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Pricing News Daily > 3/26/15

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:

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Strategic Pricing Associates

SPA is the leading provider of pricing analytics to 100′s of complex companies of all types: manufacturing, distribution, equipment, services, and software/technology products. The benefits are staggering; and they are typically accomplished in less than 90 days. Our typical client improves profitability by two to four percent of sales. SPA Clients include over 200 manufacturing companies including Parker HannifinRockwellGEExxon MobilCaterpillar as well as over 400 distributors including Harry Cooper Supply CompanyIndustrial Distribution GroupAH Harris, and ThermoFisher Scientific.

Click a link below to learn more…

Headlines

Putting Segmentation and Pricing Together | Chris Lema

Putting Segmentation and Pricing Together | Chris Lema

Why do you think airline carriers create both coach and first class? The answer comes back to profit maximization.  A single question like, “Is first class worth it?” is answered very differently by two very different kinds of people. One kind says, “Hell no. We’re all going the same place. I’m not paying 2-20x for […]

Will big data lead to price discrimination? | Agenda – The World Economic Forum

Will big data lead to price discrimination? | Agenda – The World Economic Forum

Many reasonable concerns about the rise of Big Data—the collection of very large amounts of data generated by digital activity—seem to be coming to a head due to worries about privacy as more and more information is collected on individuals. One particular concern is that businesses may use collected data to charge different prices to […]

Shoppers Claim Target Canada Cheated, Jacked Up Prices Ahead Of Sales | International Business Times

Shoppers Claim Target Canada Cheated, Jacked Up Prices Ahead Of Sales | International Business Times

A photo posted on Facebook by a bargain hunter who went to Target Canada to avail of supposed discounts from its liquidation sales has gone viral after it showed the standard-priced tags were actually lower than the actual sale price. Christina Veraldi of Ajax, Ont. said she went to Target Canada in the hopes of […]

What is … the Pay as You Feel principle? | Another Angry Voice

What is … the Pay as You Feel principle? | Another Angry Voice

The Pay As You Feel principle (also known as Pay What You Want and Pay What You Like) is a heterodox pricing strategy that puts the customer at complete discretion over the price they are willing to pay for goods or services. The most commonly used names for this pricing strategy are completely self-explanatory because […]

New York DFS Opens Inquiry Into Price Optimization | Insurance Journal

New York DFS Opens Inquiry Into Price Optimization | Insurance Journal

The DFS said in the letter that it is seeking information from insurers in order to help regulators determine whether insurers use price optimization in New York along all property/casualty insurance lines — and whether corrective actions are needed with regard to insurers’ rating practices. The letter asks insurers whether they currently use any formalized […]

Rethinking Pricing | StartupConnection

Rethinking Pricing | StartupConnection

Pricing products or services used to be a relatively straightforward process. You would: Calculate your costs Determine how much profit you wanted to make, and Add appropriate brand value. You would then tweak your pricing model a little bit with promotions, clearance sales, supply and demand considerations, seasonality, and product life cycles. You then tested […]

N.Y. Regulator Studying How Car, Other Insurance Rates Are Set | WSJ

N.Y. Regulator Studying How Car, Other Insurance Rates Are Set | WSJ

New York’s top financial watchdog warned insurers this week about charging higher prices to customers least likely to shop around, the latest state to raise questions about how the industry uses data when setting rates. Department of Financial Services Superintendent Benjamin Lawsky sent a letter to hundreds of car and property insurers asking for any […]

Airline pricing and high growth = strategy + tactics | EyeforTravel

Airline pricing and high growth = strategy + tactics | EyeforTravel

Last month Tom Bacon recommended three tools to help airlines flying new routes approach forecasting in a more strategic way. Now he turns to the challenge of pricing As airlines launch a record number of new routes in 2015, airline pricing needs to take a central role in ensuring success. Those who set prices cannot […]

Merge loyalty and pricing to drive direct hotel bookings | Tnooz

Merge loyalty and pricing to drive direct hotel bookings | Tnooz

Hotels could take this one step further and always offer better rates to every customer logging in with a loyalty account, even if it’s their first stay with the brand. Lower tiers of known customer could receive a modest discount to the public best available rate, whether that be 10%, $10 or $1 less, because […]

Pricer’s Points: A Short Story About Pricing | Brett Johnson

Pricer’s Points: A Short Story About Pricing | Brett Johnson

The ‘dark art’ of pricing your products and services is a challenge faced by all business owners. Before sharing my thoughts on the subject below, I can highly recommend reading ‘Persuade Your Customers to Pay More’ by Ian Brooks. This book is a very practical and useful guide to how we should all be thinking […]

 


This Week in Pricing > 3/22/15

Headlines
Steve Blank To Startups: Don’t Make This Common Pricing Mistake | Inc.com
– Three Tier system and Pricing overview for USA Market | Beverage Trade Network
– You Can’t Control Your Competitor | The Sales Blog
– ‘I spot and exploit pricing errors for a living’ | Telegraph
– Banning Uber’s surge pricing is a terrible idea | Business Insider
…and more

 

Events

Webcast: How Strategic Pricing Tools Can Identify Price-sensitive Products and Services | SPA

When: April 22, 2015 2:00 PM Eastern

Register to attend our webcast where an SPA client will share their journey to pricing excellence and how they are leveraging science-based strategic pricing tools to stop margin erosion by identifying price-sensitive products and services. To implement a solution that enhanced profitability, developed pricing discipline, and removed emotion from the […]

Workshop: Change Management in Pricing | Stephan Liozu

When: May 5-6, 2015

Where: Dallas, TX at the Hilton Anatole Hotel

Theories, Best Practices and a Transformational Framework More than 70% of projects fail because of the inability of organizations to change. The same goes with pricing projects and initiatives. Change in value and pricing management is challenging, sometimes tenuous, and might take a long time to […]

Conference: Manufacturing Pricing Excellence – Barcelona 2015

When: May 20-22, 2015

Where: Barcelona, Spain

Event Overview On behalf of Copperberg and the entire Pricing competence team I am delighted to announce our 3rd Annual Manufacturing Pricing Excellence conference scheduled for 20-22nd of May 2015 in Barcelona, Spain. Since our last edition in Amsterdam, together with our advisory board and delegate network we have been […]

Conference: Strategic Pricing Conference | SPA

When: June 11-12, 2015

Where: Las Vegas, NV at the Vdara Hotel & Spa at Aria

Learn how leading manufacturing and distribution executives have unlocked the keys to faster growth, stronger customer relationships, and market-leading profitability with SPA’s proven strategic pricing processes and technology. Event Overview Equal parts strategy and practical tactics, this complimentary Strategic Pricing Executive Overview event […]

 

The following is a daily-dose of pricing cartoons and quotes, enjoy…

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“The show is not selling, let’s raise prices!”

     – Ronda Helton

 

Pricing Resources

Explore our archives of valuable pricing resources including:

The List Price Question – Is it possible to charge more than list price? | Strategic Pricing Associates

“salespeople believe list price is that artificially high number which is used as a marker for future discounts” Many salespeople believe list price is that artificially high number which is used as a marker for future discounts. In their minds, it is an unnatural sin to sell anything to anybody for “list”. Part of this […]

Pricer’s Points Blog Series

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.

Check out some recent additions…

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.

Check out some recent favorites…

Pricing News LinkedIn Group

Join 1,000’s 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 t

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