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Pricing News Daily > 3/16/18

pricingnews-DailyPricing News Daily is a digest of top pricing strategy in the news, strategy expert and technology leader’s thought leadership, industry news and events, and resources for pricing professionals, business owners, creative professionals, and independent contractors.

 

This Edition is brought to you by:SPOSEA logo JPG

 

SPOSEA B.V.

SPOSEA B.V. drives increased profitability for SAP users by SIMPLIFYING SAP’s Price Data Optimization, Management and Execution. We provide the SAP ecosystem with enterprise-wide Price Management that increases margins through optimized prices. Our family of products includes BrightPrice Optimizer, BrightPrice Manager, BrightPrice DealManager, and BrightPrice MarketDynamics. We provide out of the box solutions for effectively managing Pricing in SAP. SPOSEA is headquartered in Eindhoven, the Netherlands, and has offices in San Francisco, California and Walldorf, Germany.

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Headlines

Airline anguish: Ticket prices could soar for some with ‘Big Brother-like’ tactics | Fox Business

Airline anguish: Ticket prices could soar for some with ‘Big Brother-like’ tactics | Fox Business

“Big Brother” could be taking to the skies across America, causing airline ticket prices to soar for some passengers – and fall for others – as major carriers eye a new pricing platform. However, in a letter to the Federal Trade Commission (FTC), Sen. Chuck Schumer (D-NY) called for an investigation into ways airlines could […]

 

Bottling Fine Wine, With Notes Of Data | PYMNTS.com

Bottling Fine Wine, With Notes Of Data | PYMNTS.com

Giving Traders More Confidence One of the reasons behind traders’ previously low confidence in wine trading marketplaces was a lack of objective, transparent and trackable data on factors like pricing and scarcity, he added. Statistics by any source – including data on certain varietals’ pricing, or how many bottles of a wine were left unconsumed […]

 

Dynamic pricing is driving sales for value brand CostSaver | Travelweek

Dynamic pricing is driving sales for value brand CostSaver | Travelweek

CostSaver’s dynamic pricing model allows agents to book clients on a GIT (Guided Independent Tour) as opposed to FIT (Fully Independent Travel) with savings of up to 25% when choosing GIT over FIT, adds Paunic. Prices start at $111 per day and the lineup includes Europe and Britain, the USA and Canada, and Central and […]

 

Can Airlines Use the Internet to Offer Discriminatory Pricing? | Travel Market

Can Airlines Use the Internet to Offer Discriminatory Pricing? | Travel Market

This past weekend, Schumer called the airlines’ ability to mine more data “Big Brother meets Big Business,” and said “it is a frightening combo for already-price-badgered airline travelers.” “The airlines have already monetized every single inch of the plane: smaller seats, less food, charges for carry-ons, and so the thought that they or others within […]

 

Governor signs drug price transparency bill | PortlandTribune

Governor signs drug price transparency bill | PortlandTribune

Gov. Kate Brown has signed into law a bill that requires pharmaceutical manufacturers to publicly disclose reasons for steep increases in drug prices. Several other states, including California, have taken similar measures as the prices of drugs have skyrocketed without an apparent reason. House Bill 4005 won bipartisan sponsorship and overwhelming support in both the […]

 

Airbnb Claims ‘Price Gouging’ by Detroit Hotels During NCAA Games This Weekend | Deadline Detroit

Airbnb Claims ‘Price Gouging’ by Detroit Hotels During NCAA Games This Weekend | Deadline Detroit

Deadline Detroit contacted the two named sites, both part of the Marrioitt group, for a chance to discuss rate changes during peak booking periods. Sales and marketing directors Scott Stinebaugh of the Westin on Washington Boulevard and Judy Booth at the riverfront Marriott didn’t return voice messages left early Wednesday afternoon. A communications team member […]

 

Uber Singapore Launches GrabHitch-like Uber Commute | Vulcan Post

Uber Singapore Launches GrabHitch-like Uber Commute | Vulcan Post

If You’re Familiar With GrabHitch, Uber Commute Is The Same Thing Just like competitor Grab’s service GrabHitch, Uber Commute is a peer-to-peer product that allows riders to pre-book rides with drivers who are open to sharing their daily commute. As for its pricing structure, Uber states that according to regulations, fares are limited only to […]

 

Lowe’s is having a ‘Black Friday’ sale right now—yes, in March | AZ Central

Lowe’s is having a ‘Black Friday’ sale right now—yes, in March | AZ Central

If you’re living in New England like us, it may feel like you’re currently stuck in a snow globe. But still doesn’t mean it’s too early to be thinking about upgrading your outdoor living space for spring. Right now, Lowe’s is having a Spring Black Friday Sale with huge deals on everything for your garden […]

 

Pricing Jobs

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Events and Resources

Webcast: Pricing Strategy Execution With Certainty 20-March | PPS and Navdeep Sodhi

Date: March 20, 2018

Time: 10:00 am Eastern

Changes in the external environment are inevitable. Companies react by rushing into strategic initiatives to defend revenues or grow profits only to realize that pricing execution is a bottleneck. Whether entering new markets — digital or traditional, major recalls, mergers or acquisitions, large-scale reorganization, or breakthrough technology, companies need be ready for unexpected pricing challenges. Rather than yield price control, companies should inspect and validate their pricing operations prior to launching any major initiative.

We will discuss how price and profit are dependent not only on external causes but also on the company’s internal operations and readiness for any eventuality. We will discuss a step-wise approach AARTI TM to help prepare your pricing operations for successful deployment.

Attendees will learn how to:

  • Assess challenges and perception gaps
  • Analyze the source and size of challenges
  • Recommend a prioritized plan to improve trust and speed to value capture
  • Train key stakeholders to understand shared objectives as well as their own roles and responsibilities to…
  • …Implement with certainty.

 

 

Workshop: Value-Based Pricing and Differential Value Quantification | Stephan M. Liozu, CPP

Date: Tue, 1 May, 2018 | 9:00 am – 4:00 pm

Location: PPS Spring Conference | Loews Chicago O’Hare Rosemont Hotel in Chicago, IL

More firms and their pricing leaders are embarking on value-based pricing strategies every year. Research shows increased adoption from 17% of firms in 2008 to about 25-30% of firms in 2016. Part of the deployment process of value-based pricing is the implementation of the Economic Value Estimation® (EVE®) process to quantify differential value. While adoption of value-based pricing and the implementation of EVE® is increasing, pricing professionals still face difficulties in designing and executing value-based pricing strategies and particularly executing the EVE® methods across their organizations.

In this unique one-day workshop, we go through the latest science on value-based pricing and on the EVE® process. We also review how to operationalize the outcome in value-based innovation, value-based marketing and value-based selling strategies. This is a unique and powerful workshop to learn theoretical and practical dimensions of EVE® and value quantification. Participants will also receive a signed copy of the “Dollarizing Differentiation Value” book as well as an eBook called “A User’s Guide to Value Modeling.”

Attendees will learn:

  • How to operationalize value-based pricing and EVE® in your daily business and track that your approach is successful
  • How to practically link value-based pricing with value-based innovation, value-based marketing, and value-based selling
  • How to use multi-functional collaboration to accelerate deployment of value-based pricing

(Level 600 Workshop)

 

 

Workshop: Price Execution for Sustained Profitable Growth | Navdeep Sodhi

Date: Wed, 2 May, 2018 | 9:00 am – 4:00 pm

Location: PPS Spring Conference | Loews Chicago O’Hare Rosemont Hotel in Chicago, IL

DESCRIPTION

Many companies find themselves ill-prepared to handle disruption or tap into innovation opportunities due to a legacy of weak pricing execution. New product introduction, organizational redesign, big data solutions, and other strategic investments – all of these critical functions can fall short without solid price operations.  Customers frame their perception of value received or procurement risk based on their vendors’ ability to execute pricing. Given the ever-changing marketplace, even smart companies need to adapt quickly with continuous price improvement.

However, companies have far more control over their pricing operations than they realize. In the workshop Pricing Execution for Sustained Profitable Growth, we will discuss a breakthrough approach for superior execution, one that can systematically eliminate pricing-related risk or leaks to bring new profits straight to the bottom-line without alienating customers. In this workshop, our discussion will include a holistic organizational approach for keeping senior management engaged while dismantling functional silos with the spirit of continuous improvement.

Attendees will learn:

  • How to find the Hidden Pricing Factory within your organization
  • How to secure trust and organizational support with evidence-based assessment of the overall pricing capability
  • How to align pricing operations with your pricing and sales strategy

(Level 500 Workshop)

 

European Pricing Summit 2018 | Finance iQ

EU Pricing Summit 2018 300x250Date: April 16-18, 2018

Location: TBD in London, England

The advent of disruptive technology, growth of e-commerce and increasing competition from global markets are just a few of the reasons why leading companies are spending time and money to develop a pricing strategy that works.

Many pricing leaders are wondering what direction to take their pricing strategy in and want to benchmark with other organisations to decide what is the most profitable option. But KPIs and pricing models are almost always confidential, and the majority of organisations are unwilling to disclose the facts and figures that the industry needs. The industry has a dilemma where practitioners want to have insights on new developments in strategies, but they are usually subject to commercial secret.

Given this situation, IQPC will be launching a limited-access, confidential mentoring panel as part of our European Pricing and Commercial Excellence Summit to enable our clients to obtain first-hand tips from our mentors to assist them in creating the most profitable pricing strategy.

29th Annual Spring Pricing Workshops & Conference | PPS

640x240-Chicago-Co-Mark-banner-11.21aDate: May 1-4, 2018

Location: Loews Chicago O’Hare Rosemont Hotel in Chicago, IL

We are excited to announce we’ll be in Chicago, IL for our 29th Annual Spring Pricing Workshops & Conference May 1-4, 2018!

You can register now and take advantage of our Early Bird Offer (Buy 2 Get 1 Free, expires March 23rd).

 

This blog series provides a forum for pricing professionals to share their insights and experience. Our guest bloggers share their knowledge about specific product or industry challenges, geographic complexities, strategies, tactics, and technologies.

 

Top Discussions

This blog category offers a collection of top pricing related conversations on LinkedIn or in the comments section of pricing related blogs and articles.

 

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Pricing Resources

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The following is a daily-dose of pricing cartoonsquotes, and videos enjoy…

 

 

“The bitterness of poor quality remains long after the sweetness of low price is forgotten”

     – Benjamin Franklin

 

 

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