Pricing News Daily > 3/19/18

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:PPS Logo

 

 

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…

 

Headlines

Physician Salaries, Drug Prices Help Drive High US Health Costs | MedScape

Physician Salaries, Drug Prices Help Drive High US Health Costs | MedScape

He points out that in the United States there are 2.6 physicians per 1000 citizens, compared with  Germany, where the ratio is 4.1/1000, and in Sweden, which has 4.2/1000. He adds that high prices combined with high volumes play a role in the imbalance of countries. He used an example of angioplasties, writing that the […]

 

Consumers, Wine Seller Amend Contested Deal In Pricing Row | Law360

Consumers, Wine Seller Amend Contested Deal In Pricing Row | Law360

Law360 (March 13, 2018, 8:01 PM EDT) — Consumers and online wine purveyor Wines ‘Til Sold Out floated a revised settlement Monday that will see shoppers receive credits toward future purchases to resolve a New Jersey federal court action alleging misleading price advertising after their original class action deal spurred backlash from the federal government, […]

 

Sláinte: Navigating Surge Pricing on St. Patrick’s Day Ridesharing | Saving Advice

Sláinte: Navigating Surge Pricing on St. Patrick’s Day Ridesharing | Saving Advice

One of the most lucrative nights of the year for Lyft and Uber drivers — and one of the most expensive for riders — is coming up this weekend. And even a couple of localized St. Patrick’s Day ridesharing discounts barely make a dent in surge pricing during the holiday. Both Lyft and Uber‘s surge […]

 

Customers not getting the best deal: ACCC | SBS News

Customers not getting the best deal: ACCC | SBS News

“It’s almost impossible for customers to obtain accurate interest rate comparisons without investing a great deal of time and effort,” Mr Sims told reporters in Sydney after the report’s release on Thursday. Mr Sims said banks were not competing to offer borrowers the best price, with the watchdog uncovering evidence decision makers were trying to […]

 

NYC yellow taxis mull pilot program that will allow for surge pricing | Curbed NY

The Taxi and Limousine Commission is set to vote on a pilot program that will give yellow and green taxi drivers the ability to offer customers upfront pricing, similar to how Uber and Lyft does, as well as the option to use surge pricing to determine their own rates, reports Politico. Passengers will have to […]

 

Airbnb Denies It Has Surge Pricing For The Boston Marathon | BISNOW

Airbnb Denies It Has Surge Pricing For The Boston Marathon | BISNOW

AirbnbWATCH issued a report that accuses the short-term home rental website of price gouging for Boston’s biggest sporting event. A downtown Boston apartment that normally fetches $77 per night was listed for $2K per night the weekend of the marathon. A condo that normally rented for $89 per night was asking $1,200 that weekend. Airbnb […]

 

Prescription price transparency bill gets praise | Florida Politics

Prescription price transparency bill gets praise | Florida Politics

A bill approved by the lawmakers in the final days of the 2018 Legislative Session could save Floridians some money next time they pick up a prescription. HB 351, sponsored by Deltona Republican Rep. David Santiago, aims to bring some pricing transparency to the pharmacy by giving customers the right to know if they could […]

 

Spring training jacks up the prices, mostly because it can | Golf Digest

Spring training jacks up the prices, mostly because it can | Golf Digest

Chris Gouge was sitting in the warm Arizona sun while taking in the Giants late Sunday afternoon game against the Padres at Scottsdale Stadium. He wasn’t sitting in a seat in the stands, though, but rather on a blanket on the grass berm (aka, lawn) beyond the left field fence. And the cost of the […]

 

A machine-learning approach to inventory-constrained dynamic pricing | MIT News

A machine-learning approach to inventory-constrained dynamic pricing | MIT News

Incorporating inventory constraints A main challenge to adopting Thompson sampling for revenue management is that the original method does not incorporate inventory constraints. However, the authors show that Thompson sampling can be naturally combined with a classical linear program formulation to include inventory constraints. The result is a dynamic pricing algorithm that incorporates domain knowledge […]

 

Pricing Jobs

Location: Cupertino, CA, US

Seniority: Not Applicable

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Location: New York City, NY, US

Seniority: Mid-Senior level

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Location: San Jose, CA, US

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Location: San Francisco, CA, US

Seniority: Mid-Senior level

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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.

 

Pricing News LinkedIn Group

Join over 5,000 of your peers in the our LinkedIn discussion group. The group offers a place to share the latest pricing strategy and technology, news, events, resources, thought leadership, and discuss the latest pricing related successes and failures in the news.

 

Pricing Resources

Explore our collection of valuable pricing resources including:

 

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

 

 

“People tend to be clueless about prices. Contrary to economic theory, we don’t really decide between A and B by consulting our invisible price tags and purchasing the one that yields the higher utility, he says. We make do with guesstimates and a vague recollection of what things are “supposed to cost.””

     – William Poundstone

 

 

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