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Pricing News Daily > 3/4/15

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.

This Edition is brought to you by:

Wiser

Wiser provides a complete suite of solutions to give retailers, brands, and manufacturers the edge to stay both competitive and most importantly, profitable. Wiser’s flagship product is WisePricer, a full-featured dynamic pricing and merchandising engine that monitors, analyzes and reprices retail products in real-time. WisePricer enables retailers to boost profit margins and revenue, price with confidence, and improve merchandising through powering the development of a sound pricing strategy. Wiser also offers a MAP monitoring solution, WiseMapper, for brands and manufacturers to monitor and protect their pricing across the thousands of retailers selling their products.

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Headlines

Pricing for Profitability – Understanding the Pocket Margin | Deloitte CFO – WSJ

Pricing for Profitability – Understanding the Pocket Margin | Deloitte CFO – WSJ

Identifying and Leveraging Pocket Information While the analytic tools exist to identify costs at a pocket level, the data is often widespread and incomplete, and frequently siloed. Sales executives typically worry about revenue and the commissions associated with it; supply-chain professionals care about containing fuel and other factors; manufacturing wants the lowest unit costs; marketing […]

Is My Price Too High or My Customers Too Cheap? | The Sales Hunter

Is My Price Too High or My Customers Too Cheap? | The Sales Hunter

This is a question I get asked a lot. Recently, I was sitting in a room of salespeople discussing ways to grow the business, and one salesperson was adamant the easiest way to grow sales would be to cut prices. The argument was based on how the prices he was being asked to sell at […]

Oil Prices Up 3% on News of Economic Growth in Europe, but Supplies Rise | NY Times

Oil Prices Up 3% on News of Economic Growth in Europe, but Supplies Rise | NY Times

HOUSTON — The global benchmark price for oil rallied above $60 a barrel on Friday for the first time in 2015, but analysts warned that growing stockpiles were hanging over the market and could easily force prices back down. Traders bid up both the global Brent and American benchmarks about 3 percent after reports of […]

Here Are The Big Winners And Losers Of Low Oil Prices | Business Insider

Here Are The Big Winners And Losers Of Low Oil Prices | Business Insider

America and its friends benefit from falling oil prices; its most strident critics don’t IN EARLY October the IMF looked at what might happen to the world economy if conflict in Iraq caused an oil-price shock. Fighters from Islamic State (IS) were pushing into the country’s north and the fund worried about a sharp price […]

Excited by Lower Energy Prices? Depends on Your Industry | WSJ

Excited by Lower Energy Prices? Depends on Your Industry | WSJ

Expectations about energy prices are generally not being built into pricing plans, either. In most of the industries surveyed, less than 25% of CFOs said their energy price expectations are affecting their own companies’ pricing plans. In contrast, 60% of energy/resources CFOs indicate their energy price expectations are affecting their own companies’ pricing plans, as did 48% of CFOs from […]

Can you steal the best pricing techniques from restaurants? | nuSchool

Can you steal the best pricing techniques from restaurants? | nuSchool

So, when we sit in at a restaurant and see the dollar sign next to the price, our mind immediately thinks ‘How can we protect our money? Let’s order a cheaper dish! “. But when the dollar sign does not appear next to the price, this mechanism isn’t activated as much and we concentrate on […]

How Technology is Tricking You Into Tipping More | Nir Eyal

How Technology is Tricking You Into Tipping More | Nir Eyal

My taxi pulled up to the hotel. I got out my credit card and prepared to pay for the ride. The journey was pleasant enough but little did I know I was about to encounter a bit of psychological trickery designed to get me to pay more for the lift. Chances are you’re paying more, […]

Tinder launches premium service that costs twice as much for people over 30 | Mashable

Tinder launches premium service that costs twice as much for people over 30 | Mashable

“We’ve priced Tinder Plus based on a combination of factors, including what we’ve learned through our testing, and we’ve found that these price points were adopted very well by certain age demographics,” Pambakian told Mashable. “Lots of products offer differentiated price tiers by age, like Spotify does for students, for example,” she added. “Tinder is […]

More Consumers Becoming Aware of Price Optimization | Superior Access Insurance Services (SAIS)

More Consumers Becoming Aware of Price Optimization | Superior Access Insurance Services (SAIS)

“Comparison shopping for car insurance now matters more than ever,” Amy Bach, who heads United Policyholders, a San Francisco-based nonprofit consumer advocate, told the site. “Not just because insurers are charging more to consumers who don’t, but also because there really are differences between what competing insurers charge and deliver.” When rising prices pose a […]

Discussion: Some Apple Watch pricing math | The Loop

Discussion: Some Apple Watch pricing math | The Loop

There’s been a lot of speculation about potential pricing for the highest tiered Apple Watch, the Apple Watch Edition line. John Gruber has been writing about Edition pricing on Daring Fireball. He initially thought that $5,000 was a ceiling for the Edition entry model, then moved his target up to $10,000, even suggesting that $20,000 […]


This Week in Pricing > 3/1/15

Headlines
– 6 Reasons Why Selling on Price Does Not Work | The Sales Hunter
DISCOUNTING: Be Proactive, Be Selective, Be Timely | Arts Hacker
Should price optimization be Illegal? | Quoted
Insurance Industry Needs Better Arguments for ‘Price Optimization’ | Insurance Journal
US banks said to face manipulation probe over metals pricing | Livemint
J.P. Morgan in talks with Justice Department over auto loan pricing | MarketWatch
…and more

Events

Webcast: Stopping Margin Erosion with Pricing Technology | SPA

When: March 11, 2015 2:00 PM Eastern

Register to attend our webcast where Brandon Liebhard, Vice President at Hodell-Natco Industries, 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 […]

Seminar: The Value-based Pricing of Innovation | Stage-Gate International

When: April 14-15, 2015

Where: Washington DC

Are you capturing the value of your innovation? Firms are pouring billions in innovation investments every year with the goal of creating differentiation and competitive products and services. Many, however, forget two critical elements in the innovation management process: the clear definition and measurement of […]

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 […]

 

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

 

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“There is scarcely anything in the world that some man cannot make a little worse, and sell a little more cheaply. The person who buys on price alone is this man’s lawful prey.”

– John Ruskin

 

Pricing Resources

Explore our archives of valuable pricing resources including:

Blog: Case Study – EverythingTruckParts.com | Wiser

I love WisePricer for the simple Bigcommerce integration & the ability to quickly update product pricing. Wiser helps us remain competitive while achieving our ROI goals as they relate to both the cost of using WisePricer & our overall profitability. JOHN MOORE EVERYTHINGTRUCKPARTS.COM OWNER WHO EverythingTruckParts.com EverythingTruckParts.com offers thousands of light, medium, and heavy-duty truck parts […]

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.

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