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Pricing News Daily > 3/15/19

PND is a digest of pricing focused news, thought leadership, events, jobs, training and certification resources for pricing professionals.

This Edition is brought to you by:

Professional Pricing Society

Currently, PPS produces three major annual pricing conferences in Europe and North America. Each conference also houses a technology hall where sponsors display the latest in Pricing Solutions software. PPS also offers more than two dozen, full-day training workshops every year, taught by leaders in the pricing community. These workshops serve as the foundation for PPS’s Certified Pricing Professional (CPP) designation, our state of the art pricing certification program. Candidates may be certified after mastering a multi-stage curriculum followed by rigorous testing. Successful CPPs have acquired the core knowledge which not only places them in the top rungs of the pricing field, but also gives them the tools to enhance substantially their own careers.

Click a link below to learn more…

Watchdog rules Rentalcars ad misleading | Travel Weekly

Watchdog rules Rentalcars ad misleading | Travel Weekly

A car rental firm has been ordered to ensure total prices are made clear in future advertising. The advertising watchdog issued the demand while upholding a complaint against TravelJigsaw-owned Rentalcars.com. The Advertising Standards Authority stepped in after a consumer queried an advert for a £93.86 five-day car rental with further text revealing an additional €84.13 […]

 

Out of 60,000+ ‘Hamilton’ seats, how many were left unsold? | Cincinnati.com

Out of 60,000+ ‘Hamilton’ seats, how many were left unsold? | Cincinnati.com

Even more remarkable was the price of tickets. Like many businesses, Broadway in Cincinnati employs something called “dynamic pricing.” The higher the demand for tickets, the higher prices go. You’ve probably experienced the same thing while flying. You paid $500 for a ticket and the person next to you somehow managed to score the same […]

 

Tesla Model Y Pricing Predicted To Start At $45,000, Top Out At $85,000 | InsideEVs

Tesla Model Y Pricing Predicted To Start At $45,000, Top Out At $85,000 | InsideEVs

Tonight, Tesla will reveal the Model Y to the world, but ahead of that event, which we’ll be attending, J.D. Power released a new report. The report contains predictions on Model Y pricing and market size. In regards to market potential, the J.D. Power report states: Tesla’s latest SUV, the Model Y, presents one of […]

 

Amazon Drops Lowest-Pricing Rule for Third-Party Sellers | E-Commerce Times

Amazon Drops Lowest-Pricing Rule for Third-Party Sellers | E-Commerce Times

Arguments Against the MFN Clause MFNs used by online platforms can harm competition by keeping prices high and discouraging the emergence of new platform rivals through both exclusionary and collusive mechanisms, wrote Jonathan Baker and Fiona Scott Morton in a Yale Law Journal article published last year. Government enforcers in the U.S. and private plaintiffs […]

 

Metro Areas with High Healthcare Prices Have Lower Utilization | Rev Cycle Intelligence

Metro Areas with High Healthcare Prices Have Lower Utilization | Rev Cycle Intelligence

Metropolitan areas with higher healthcare prices had lower utilization of medical services and vice versa, the Health Care Cost Institute (HCCI) recently reported its latest analysis for the Health Marketplace Index series. Funded by the Robert Wood Johnson Foundation, the Healthy Marketplace Index project aims to understand the drivers of market-level variation in healthcare spending. […]

 

Google Is Moving To First-Price, But Big Questions Remain | AdExchanger

Google Is Moving To First-Price, But Big Questions Remain | AdExchanger

Google’s move to create unified, first-price auctions for publishers using Google Ad Manager doesn’t just change the auction type. It impacts pricing, header bidding, publisher floors and how publishers see AdWords demand. Under the new rules, all exchanges will bid for an impression at the same time, and Google will lose the “last look” it […]

 

Price Drop On Tesla Autopilot & Full Self Driving Creates Surge In Demand | CleanTechnica

Price Drop On Tesla Autopilot & Full Self Driving Creates Surge In Demand | CleanTechnica

After Tesla lowered the pricing of all of its new vehicles last week, Tesla offered up discounts on its newly reframed Autopilot and Full Self Driving options for existing owners as a way of compensating them for the loss in value they experienced virtually overnight. Several days later, Tesla course-corrected, opting to close half as […]

 

DirecTV Now Price Increases Confirmed, HBO in New ‘Slimmer’ Bundles | Variety

DirecTV Now Price Increases Confirmed, HBO in New ‘Slimmer’ Bundles | Variety

AT&T is overhauling its DirecTV Now pricing and packaging strategy — including hiking prices for existing customers by $10 across the board — a move that could lead to more subscriber losses for the company’s flagging pay-TV business. At the same time, AT&T is launching two new DirecTV Now packages: Plus, at $50 per month […]

 

Webinar 28-March – Optimizing International Market Launches Through Pricing Insights | PriceBeam

This webinar looks at how pricing should play an integral role in international market launches and how willingness-to-pay research can help optimize the prices in each market.

Imagine a US company wanting to export to Germany: should the German price be just the USD price converted into Euros? It could, but it is likely that German customers have a different willingness-to-pay than US customers, and thus a straight conversion would either lead to a price that is too high, or possibly too low. Both cases lead to loss of profits. So by how much should the price vary when launching there? Price research can tell you, so you don’t have to guess.

While old-fashioned market research would have taken months and cost a small fortune, PriceBeam’s cloud-based willingness-to-pay solution changes all that. Not only can it deliver results in just a few days, but it is also very cost effective as it runs via the cloud. Furthermore, PriceBeam’s price research is available in 109 countries world-wide.

 

Pricing in the Age of AI: What You Need To Do Now | Perfect Price Breakout Session at PPS Spring Conference

Artificial intelligence, machine learning, and automation are rapidly transforming every part of global commerce — including pricing. From retail giants like Amazon to on-demand services like Uber to leading airlines, hotels, and car rental agencies, forward-thinking companies are using AI to turn data into massive returns. This rapid shift is creating opportunities and confusion. To remain competitive in an increasingly AI-driven world, immediate action is critical.

This presentation focuses on the latest generation of AI technologies currently being utilized by companies around the world to match their supply with ever-evolving consumer demand, given changing marketplace factors and consumer behaviors.

ATTENDEES WILL LEARN

  • How companies can develop an AI pricing strategy and get buy-in from their entire organization
  • How to build a framework for their unique needs, or leverage existing frameworks for success
  • How to create consistently achievable revenue goals with AI pricing

 

Value-Based Pricing& the Quantification of Differentiation Value | Stephan Liozu Workshop at PPS Spring Conference

More firms and their pricing leaders are adopting value-based pricing every year. Research shows increased adoption of this progressive pricing orientation moving from 17% in 2008 to about 25-30% in 2018. Part of the deployment process of value-based pricing is the implementation of the Economic Value Estimation (EVE®) process to quantify differentiation value before it can be communicated to customers and capture from them. While adoption of value-based pricing is increasing, pricing professionals still face difficulties across their organizations. In fact, the EVE® process can be fairly mechanical and, with proper training, can be understood fairly rapidly. The challenge remains therefore what to do with the value models and calculated data.

In this unique workshop, we review the latest science on value-based pricing and the EVE® process. We also review how to operationalize the outcome in value-based innovation, value-based marketing and value-based selling strategies.

ATTENDEES WILL LEARN

  • How to operationalize value-based pricing and EVE® in your day-to-day business
  • How to practically link value-based pricing with innovation, marketing, and selling
  • How to respond to challenges in deploying the EVE® and value quantification process

 

30th Annual Spring Workshops & Conference May 7-10, 2019 | PPS

We are excited to announce we’ll be in Atlanta, GA for our 30th Annual Spring Pricing Workshops & Conference May 7-10, 2019! You can register now and take advantage of our Early Bird Offer (Buy 2 Get 1 Free, expires March 29th).

 

Webinar (On-Demand): Pricing in New Product Development – From Afterthought to Integral Part of the Process | PriceBeam

This webinar looks at how pricing can and should play a more integral role in New Product Development (NPD) instead of being an afterthought once the product is already designed and produced.

Participants and viewers will learn about:

  • How to use pricing and willingness-to-pay research to create new products or services that have higher success rates once launched
  • How to integrate willingness-to-pay research in the product design process
  • How to better understand what prospective customers actually value, and what they don’t value
  • How to test different concepts for market viability and ability to achieve solid prices in the market place.

 

Webinar (On-Demand): Machine Learning & Data – The Latest Pricing Opportunity | PPS and Vistaar

In today’s ever-evolving world, data and software driven strategies are imperative to creating sustained commercial success.

Computers are more adept than humans at sorting through data with complex variables such as frequently fluctuating costs, rapidly evolving pricing models, and shifting customer priorities. Modern pricing software solutions, powered by advanced algorithms and machine learning techniques, enable businesses to constantly analyze data on an unparalleled scale and drive decision making based on data.

In this PPS webinar, Vistaar’s Director of Product Management, Dushyant Zutshi, discusses how advanced algorithms and machine learning techniques drive intelligent pricing and sales strategies for success in the data-driven world.

 

Webinar (On-Demand): Machine Learning & Pricing with PPS | Perfect Price

Watch CEO of Perfect Price, Alexander Shartsis, discuss machine learning and pricing with the Professional Pricing Society (PPS).

PPS is the world’s largest association of pricing professionals, and usually asks tough questions!

 

Webinar (On-Demand): Value-Based Pricing foundation done right – Conjoint Analysis | PriceBeam

Value-Based Pricing is considered a superior strategy for most industries and businesses. But it also requires a solid foundation of data and market insights. In this webinar we will take an in-depth look at the powerful insights that can be created through price research, in particular using conjoint analysis

Participants and viewers will learn about:

  • How Value-Based Pricing can be supported with price research
  • Different price research methods
  • How Conjoint Analysis can provide powerful insights and support for a Value-Based Pricing strategy
  • Tips and tricks for running a conjoint analysis price research project.

 

Explore our collection of valuable pricing resources including:

 

Pricing News on LinkedIn

Join 1,000’s of your peers in the our LinkedIn discussion group. The group features informative pricing strategy and technology focused news, events, resources, thought leadership, cartoons, quotes, and discussions about the latest pricing strategy, tactics, and tech successes and failures in the news.

 

 

“The single most important decision in evaluating a business is pricing power,” Buffett told the Financial Crisis Inquiry Commission in an interview released by the panel last week. “If you’ve got the power to raise prices without losing business to a competitor, you’ve got a very good business. And if you have to have a prayer session before raising the price by 10 percent, then you’ve got a terrible business.”

     – Warren Buffett

Posted in: Pricing News Daily