Pricing News Daily > 4/10/18

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:PPS Logo

 

 

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…

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Headlines

Spring House Hunt: A guide to real estate pricing terms | Boston.com

Spring House Hunt: A guide to real estate pricing terms | Boston.com

What is my home worth? It sounds like a simple question, but the answer can vary greatly, depending on why and whom you are asking. Are you selling your home and wondering what your listing price should be, or are you referring to the assessed or appraised values of your home? Words like “assessment’’ and […]

 

Fairview grad named to Trump administration post | GoErie.com

Fairview grad named to Trump administration post | GoErie.com

Dan Best, a 1987 graduate of Fairview High School, has long had an interest in controlling drug prices. The 49-year-old son of Ted and Marilyn Best now has a big platform to explore that interest. Health and Human Services Secretary Alex Azar on Friday named Best, most recently a CVS Caremark executive, to serve as […]

 

KIRO Radio hosts react to congestion pricing in Seattle | KIRO Radio

KIRO Radio hosts react to congestion pricing in Seattle | KIRO Radio

Part of Seattle Mayor Jenny Durkan’s plan to reduce traffic and greenhouse gases is to implement congestion pricing by 2021. The city will study congestion pricing in downtown neighborhoods. Results could come as early as later this year. Here’s how the hosts of KIRO Radio reacted to the news: John Curley You’re gonna be shocked, […]

 

Sanofi to Start Offering Discounts on Two Insulin Products | AJMC.com

Sanofi to Start Offering Discounts on Two Insulin Products | AJMC.com

The discount to patients comes as Sanofi, Eli Lilly, and Novo Nordisk are parties in a racketeering lawsuit where they recently acknowledged that consumers’ sticker shock over insulin prices are real. It’s just not the manufacturers’ fault, they argue, and it’s definitely not a crime. “Defendants acknowledge that pharmaceutical pricing is an important issue, especially […]

 

Cabs a letdown, commuters deal with auto’s surge pricing | Times of India

Cabs a letdown, commuters deal with auto’s surge pricing | Times of India

CHENNAI: A number of buses off the streets, meant commuters on Thursday had to turn to autorickshaws and cab aggregators. But mobility came at a cost of either time or money as only a few cabs were available and auto rickshaws surged prices. Though roads were free of rush-hour traffic, fewer public transport options called […]

 

With RBI’s near-ban announcement, cryptocurrency prices crash sharply | Business Standard News

With RBI’s near-ban announcement, cryptocurrency prices crash sharply | Business Standard News

Without saying so categorically, the Reserve Bank of India (RBI) as good as banned crypto currency on Thursday. As a result, prices of bitcoin and other crypto currencies on Indian exchanges have crashed. Bitcoin was trading at $6,950 in international market just before RBI announcement but in India on Zebpay, a leading crypto exchange, it […]

 

Cyber Risk Scoring, Automated Vehicles and Price Optimization: Read Recaps of “Hot Topic” RPM Sessions | Casualty Actuarial Society

Cyber Risk Scoring, Automated Vehicles and Price Optimization: Read Recaps of “Hot Topic” RPM Sessions | Casualty Actuarial Society

Price Optimization Continues as an Unresolved Issue As Price Optimization has gained more traction in the insurance industry, there has been a divergence of opinions regarding its use. Panelists Serhat Guven, FCAS, regional director, Willis Towers Watson, Wanchin Chou, FCAS, chief actuary of the Connecticut Department of Insurance and Birny Birnbaum, executive director of the […]

 

CVS Health Kept Drug Price Growth Nearly Flat and Improved Medication Adherence for PBM Clients in | CVSHealth

CVS Health Kept Drug Price Growth Nearly Flat and Improved Medication Adherence for PBM Clients in | CVSHealth

Although manufacturer-driven price inflation for specialty drugs measured 8.3 percent in 2017, CVS Health was able to keep specialty drug cost growth at just 3.7 percent for clients. This was achieved through effective formulary strategies, indication- and outcomes-based contracting and cost-cap based rebates. CVS Health also offers PBM clients a variety of formulary strategies, which […]

 

 

Location: New York City, NY, US

Seniority: Mid-Senior level

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Location: San Jose, CA, US

Seniority: n/a

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Events and Resources

European Pricing Summit 2018 | Finance iQ

EU Pricing Summit 2018 300x250Date: April 16-18, 2018

Location: TBD in London, England

The advent of disruptive technology, growth of e-commerce and increasing competition from global markets are just a few of the reasons why leading companies are spending time and money to develop a pricing strategy that works.

Many pricing leaders are wondering what direction to take their pricing strategy in and want to benchmark with other organisations to decide what is the most profitable option. But KPIs and pricing models are almost always confidential, and the majority of organisations are unwilling to disclose the facts and figures that the industry needs. The industry has a dilemma where practitioners want to have insights on new developments in strategies, but they are usually subject to commercial secret.

Given this situation, IQPC will be launching a limited-access, confidential mentoring panel as part of our European Pricing and Commercial Excellence Summit to enable our clients to obtain first-hand tips from our mentors to assist them in creating the most profitable pricing strategy.

 

Workshop: Value-Based Pricing and Differential Value Quantification | Stephan M. Liozu, CPP

Date: Tue, 1 May, 2018 | 9:00 am – 4:00 pm

Location: PPS Spring Conference | Loews Chicago O’Hare Rosemont Hotel in Chicago, IL

More firms and their pricing leaders are embarking on value-based pricing strategies every year. Research shows increased adoption from 17% of firms in 2008 to about 25-30% of firms in 2016. Part of the deployment process of value-based pricing is the implementation of the Economic Value Estimation® (EVE®) process to quantify differential value. While adoption of value-based pricing and the implementation of EVE® is increasing, pricing professionals still face difficulties in designing and executing value-based pricing strategies and particularly executing the EVE® methods across their organizations.

In this unique one-day workshop, we go through the latest science on value-based pricing and on the EVE® process. We also review how to operationalize the outcome in value-based innovation, value-based marketing and value-based selling strategies. This is a unique and powerful workshop to learn theoretical and practical dimensions of EVE® and value quantification. Participants will also receive a signed copy of the “Dollarizing Differentiation Value” book as well as an eBook called “A User’s Guide to Value Modeling.”

Attendees will learn:

  • How to operationalize value-based pricing and EVE® in your daily business and track that your approach is successful
  • How to practically link value-based pricing with value-based innovation, value-based marketing, and value-based selling
  • How to use multi-functional collaboration to accelerate deployment of value-based pricing

(Level 600 Workshop)

 

 

Workshop: Price Execution for Sustained Profitable Growth | Navdeep Sodhi

Date: Wed, 2 May, 2018 | 9:00 am – 4:00 pm

Location: PPS Spring Conference | Loews Chicago O’Hare Rosemont Hotel in Chicago, IL

DESCRIPTION

Many companies find themselves ill-prepared to handle disruption or tap into innovation opportunities due to a legacy of weak pricing execution. New product introduction, organizational redesign, big data solutions, and other strategic investments – all of these critical functions can fall short without solid price operations.  Customers frame their perception of value received or procurement risk based on their vendors’ ability to execute pricing. Given the ever-changing marketplace, even smart companies need to adapt quickly with continuous price improvement.

However, companies have far more control over their pricing operations than they realize. In the workshop Pricing Execution for Sustained Profitable Growth, we will discuss a breakthrough approach for superior execution, one that can systematically eliminate pricing-related risk or leaks to bring new profits straight to the bottom-line without alienating customers. In this workshop, our discussion will include a holistic organizational approach for keeping senior management engaged while dismantling functional silos with the spirit of continuous improvement.

Attendees will learn:

  • How to find the Hidden Pricing Factory within your organization
  • How to secure trust and organizational support with evidence-based assessment of the overall pricing capability
  • How to align pricing operations with your pricing and sales strategy

(Level 500 Workshop)

 

29th Annual Spring Pricing Workshops & Conference | PPS

640x240-Chicago-Co-Mark-banner-11.21aDate: May 1-4, 2018

Location: Loews Chicago O’Hare Rosemont Hotel in Chicago, IL

We are excited to announce we’ll be in Chicago, IL for our 29th Annual Spring Pricing Workshops & Conference May 1-4, 2018!

You can register now and take advantage of our Early Bird Offer (Buy 2 Get 1 Free, expires March 23rd).

 

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.

 

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 Resources

Explore our collection of valuable pricing resources including:

 

The following is a daily-dose of pricing cartoonsquotes, and videos enjoy…

 

 

“Pricing is the moment of truth – all of marketing strategy comes to focus on the pricing decision.”

     – Raymond Corey

 

 

Posted in: Pricing News Daily