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Pricing News Daily > 3/5/15

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.

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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

The Science Of Menu Design: How Restaurants Can Make You Choose A Salad Over A Cheeseburger | Fast Company

The Science Of Menu Design: How Restaurants Can Make You Choose A Salad Over A Cheeseburger | Fast Company

INCREASING PERCEIVED VALUE Restaurants already use a number of hacks to make you think the food you’re ordering is cheaper than it already is. For example, they might list an entree without using a “$” symbol in order to downplay the item’s price. A menu might stagger the alignment of prices, so patrons can’t just […]

Taxis jam Brussels in protest over possible Uber arrival | Reuters

Taxis jam Brussels in protest over possible Uber arrival | Reuters

Drivers signed up to Uber would have to be at least 21 and could only do the activity as a side job, with regular taxi drivers also able to sign up. Vehicles would have to be no older than seven years and subject to an annual check-up. “I am paying taxes, I am paying my […]

Here’s why gas prices are on the rise | Yahoo News Digest

Here’s why gas prices are on the rise | Yahoo News Digest

Gasoline prices are on the rise, even as oil continues to hover around seven-month lows. The average price of a gallon of gas has increased every day for nearly a month, according to AAA. It’s the longest streak since last spring. A 123-day streak of gas price declines began in September and ended in January. Economists […]

Another Big Reason to Think Oil Prices Aren’t Going Up Soon | Bloomberg Business

Another Big Reason to Think Oil Prices Aren’t Going Up Soon | Bloomberg Business

Oil just had its first weekly decline in a month, breaking a rally in crude prices. A bit of context: After what’s happened over the last year, “rally” seems a bit of an overstatement. One big factor that may be driving prices down this week: The U.S. is pumping so much oil it’s running out of places to stash […]

Menu descriptions an exotic language of their own | San Jose Mercury News

Menu descriptions an exotic language of their own | San Jose Mercury News

“The more expensive the restaurant, the longer the words on the menu, on average,” said Jurafsky, presenting his research Sunday in San Jose at the annual meeting of the American Association for the Advancement of Science in San Jose. Restaurants may be marketing their erudite staff — or targeting educated customers. For every extra letter […]

7 Pricing Mistakes To Avoid: Data-Based Insights from Salesforce, Uber and Kraft | Forbes

7 Pricing Mistakes To Avoid: Data-Based Insights from Salesforce, Uber and Kraft | Forbes

One of the biggest mistakes I’ve seen executives make over the years is not spending enough time thinking about their pricing models. They think about price, but not creatively enough about pricing model, which is more about how you package your prices. In an interview with Anil Kaul, the CEO of Absolutdata, which helps big […]

Identifying a Pricing Glitch Before it’s Too Late! | Crimson Hexagon

Identifying a Pricing Glitch Before it’s Too Late! | Crimson Hexagon

Price-matching… a great strategy for retailers to prevent shoppers from “showrooming” products in-store and then turning around to buy them cheaper online or from competitors. Walmart has been dabbling in the price-matching arena for a few years now, matching competitor pricing on everything from potato chips to Barbies. However, you may have heard that they […]

Google exec: It’s ‘irresponsible’ of Apple to make everything expensive | CNET

Google exec: It’s ‘irresponsible’ of Apple to make everything expensive | CNET

Osterloh’s response was to complain that Apple charged “outrageous prices.” Surely, though, Pichai and Oseterloh are aiming their disdain at the wrong target. They really should be criticizing you. It’s your fault. By you, I mean all you people who pay these allegedly outrageous and irresponsible prices for Apple products. You are being allegedly seduced […]

The Best Retail Pricing Strategies by Sector | Software Advice

The Best Retail Pricing Strategies by Sector | Software Advice

Retailers face a number of important decisions when determining how to price their goods and services. The stakes are high: Setting prices correctly can attract customers, drive sales and burnish a retailer’s reputation. Incorrectly set prices, on the other hand, can have a profoundly negative impact on sales and customer loyalty. To help make more […]

Pricer’s Points: WHY IS THERE NO BACHELOR OF PRICING!? | Alex Zveiris

Pricer’s Points: WHY IS THERE NO BACHELOR OF PRICING!? | Alex Zveiris

BACHELOR OF ECONOMICS, BACHELOR OF MARKETING…WHY IS THERE NO BACHELOR OF PRICING!? Many of my colleagues tell me that I have a very interesting job. I couldn’t agree more! A simple look at most university programs will show that you can’t learn “pricing” at school. However, you can definitely learn a lot about economics, marketing […]


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 […]

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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“Pricing is the only element in the marketing mix that produces revenue; the other elements produce costs.

– Phillip Kotler

 

Pricing Resources

Explore our archives of valuable pricing resources including:

Blog: Case Studies – Distributors | Strategic Pricing Associates (SPA)

The following are highlights from some of our distributor client case studies that will help you to learn more about the significant margin improvement with a fast ROI realized by some of the 400 distributors that have partnered with SPA. These case studies cover all aspects of SPA’s work with clients including data and analytics, sales force […]

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.

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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 the news.