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Pricing News Daily > 3/29/19

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…

 

Outcomes-based Pricing Not A Panacea For High Priced Drugs | Forbes

Outcomes-based Pricing Not A Panacea For High Priced Drugs | Forbes

In the battle over the pricing of new drugs, manufacturers and payers have sought to come up with novel approaches to pricing that can be tolerated by both parties. One such approach has been to provide a type of money-back guarantee for expensive new drugs. In what are called outcomes-based agreements, prices are agreed to […]

 

Over $10 to Drive in Manhattan? What We Know About the Congestion Pricing Plan | The New York Times

Over $10 to Drive in Manhattan? What We Know About the Congestion Pricing Plan | The New York Times

Driving in Manhattan may never be the same again. It could soon cost more — well over $10 — to drive into the busiest neighborhoods, from 60th Street in Midtown all the way to the Battery. The fees will be part of a new congestion pricing plan that is expected to be adopted as early […]

 

NFL Not Considering Las Vegas Super Bowl Yet, Price Gouging Concerns | Oakland News Now

NFL Not Considering Las Vegas Super Bowl Yet, Price Gouging Concerns | Oakland News Now

As the one who formed Oakland’s only bid to host the Super Bowl, and for Super Bowl 39 in 2005, I asked my source how the NFL would deal with the problem of price gouging. Nose bleed increases in Las Vegas Strip hotel prices, and the resort fee that tops $40 a day at some […]

 

Gartner predict real-time pricing in store for top retailers | Tamebay

Gartner predict real-time pricing in store for top retailers | Tamebay

In what will hardly be a surprise for online merchants, Gartner predicts that by 2025, the top 10 global retailers by revenue will leverage contextualised real-time pricing through mobile applications to manage and adjust in-store prices for customers. Real-time pricing is already a key tool for marketplace sellers through repricing software and, with many omnichannel […]

 

Research identifies new e-reader pricing strategy | Phys.Org

Research identifies new e-reader pricing strategy | Phys.Org

From Alexa to iTunes to Google Home, for the past few years, tech heavy hitters such as Amazon, Apple, and Google have been building strategic product combinations designed to lure in customers and lock down their loyalty. Now, new research released by Hui Li, assistant professor of marketing at the Tepper School of Business, suggests […]

 

How price sheets have compared in recent years | Resource Recycling News

How price sheets have compared in recent years | Resource Recycling News

For decades, a pricing index has reported prices for recyclables in Canada’s most populous province. The group behind the sheet recently evaluated how it compares with other market reports. The Continuous Improvement Fund (CIF), an Ontario, Canada group funded by producers and municipalities, publishes a sheet showing how much money recovered fibers, plastics, metals and […]

 

Business Models in the Age of IoT: Enabling Usage-Based Pricing | IoT For All

Business Models in the Age of IoT: Enabling Usage-Based Pricing | IoT For All

The Internet of Things has transformed our world (mostly for the better), and it certainly goes hand in hand with the usage-based or consumption-based pricing. Businesses know that usage-based pricing appeals to the end-customers due to the low cost of entry. This allows them to drive sales volumes and higher revenues. However, usage-based billing and […]

 

6 Orange County funeral homes lack price transparency online, violating state law, coalition says | Orange County Register

6 Orange County funeral homes lack price transparency online, violating state law, coalition says | Orange County Register

Progress is being made When the consumer groups began their compliance checks earlier this year, 23 funeral homes appeared to be violating the law. But knowledge of the survey has apparently encouraged most of them to begin listing prices. The coalition started its compliance surveys in Orange County but plans to expand throughout the Golden […]

 

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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