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Pricing News Daily > 3/28/19

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:

Vistaar

Vistaar is leading SaaS software provider that enables companies to optimize pricing, promotion, configuration, and rebate management.  Our solutions are powered by predictive models leveraged by machine learning that deliver profitable growth and maximize shareholder value.  Our world-class customer base spans a broad range of industries throughout the Global 2000 and includes: manufacturing, beverage alcohol, retailers, and many others.

 

What’s new at Miami Open in new home at Hard Rock Stadium? | Miami Herald

What’s new at Miami Open in new home at Hard Rock Stadium? | Miami Herald

Tennis fans, beware. You may not need to win the Miami Open singles championship check of $1.3 million to afford the expense of attending the tournament at its new Hard Rock Stadium digs. But winning the lottery would help. Do whatever you can to avoid paying the unconscionable, rip-off parking fee of $40. Yes, these […]

 

Kater, Vancouver’s first-ever ride-hailing app, will launch next week | Hilltop Monitor

Kater, Vancouver’s first-ever ride-hailing app, will launch next week | Hilltop Monitor

Unlike Uber, Kater says it won’t use “surge pricing”, the practice of hiking prices when demand for rides is high. Instead, she said that burden would fall on the cabinet-appointed provincial regulator, the Passenger Transportation Board, to approve any applications for ride-hailing services like Uber or Lyft. “In order to be fully operational we had […]

 

State Assembly ‘Ready To Go Forward On Congestion Pricing,’ Speaker Says | Gothamist

State Assembly ‘Ready To Go Forward On Congestion Pricing,’ Speaker Says | Gothamist

A day after several state legislators held an anti-congestion pricing rally in Manhattan, Assembly Speaker Carl Heastie told reporters that congestion pricing would be included in the budget that is due to be passed by this Sunday. “We’re at the point where the Assembly members understand the need to fund the MTA,” Heastie said, according […]

 

Pink tax event to be held on March 28 for Women’s History Month | The Daily Nebraskan

Pink tax event to be held on March 28 for Women’s History Month | The Daily Nebraskan

An event covering gender inequity in retail pricing will close out the celebration of Women’s History Month at the University of Nebraska-Lincoln. University Housing’s Multicultural Awareness and Diversity Education committee will host “The Pink Tax” event in the Harper Dining Center conference room on Thursday, March 28 from 6 to 8 p.m. Matt Papa, MADE’s […]

 

Apple announces ‘Apple Arcade’ game subscription service | Mashable

Apple announces ‘Apple Arcade’ game subscription service | Mashable

At long last, Apple’s getting into the games. This is more Xbox Game Pass than Stadia, an important distinction. Subscribers get access to a library of “more than 100” games, a curated list that’s meant to be highlighted by an abundance of exclusive titles. This isn’t a streaming service, it’s important to note. Where Google’s […]

 

Broadband pricing controversy shows compromise needed | InternetNZ

Broadband pricing controversy shows compromise needed | InternetNZ

InternetNZ is calling on Internet Service Providers and Chorus to reach an agreement on reasonable pricing for fibre unbundling — and quickly. Today, Chorus announced prices for their proposed unbundled fibre services. Some ISPs are claiming the price is too high and this will result in less benefit — and higher prices — for Internet […]

 

Apple TV subscription service gets skeptical treatment | Yahoo! Finance

Apple TV subscription service gets skeptical treatment | Yahoo! Finance

Apple did not disclose how much Apple TV+ will cost – the consensus expects it to undercut Netflix’s $12.99 entry price tag. Jefferies Group, in a research note on Tuesday, said it will have to be a lot cheaper than Netflix to get much traction, especially in an era when consumers may already feel over-subscribed to digital subscriptions. […]

 

NC State Football Look To Optimize Ticket Pricing, Fan Experience in 2019 | Front Office Sports

NC State Football Look To Optimize Ticket Pricing, Fan Experience in 2019 | Front Office Sports

Most athletic departments and professional teams face a fairly simple question: How can you make as much as possible from ticket sales while filling the stadium? North Carolina State University (NC State) examined this question with their football program during the 2018 season. NC State began a partnership with Old Hat back in October to […]

 

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.

 

Workshop: Pricing Innovation – Setting the Right Price for New Products or Services | PriceBeam

Join PriceBeam and The Pricing Coach on the 24th of April from 8:00 to 10:00 am – some of the best pricing experts who will offer in-depth analyses in the pricing of new and innovative products. Finn Helmo Hansen will present “Using Market Research to Price Innovation. Setting the right price for new products or services.” Mark Peacock will present “How smarter pricing strategies can maximise revenues & profits and deliver better customer value.”

Pricing is quickly becoming a key factor in product development. Sign up for this event and see how the changes in pricing will help you prepare.

 

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

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