OnDemand WTP Pricing Research

Pricing News Daily > 4/2/19

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:

PriceBeam

B2B and B2C Pricing, Marketing, and Finance team leaders struggle to capture fresh, reliable, and actionable Willingness-To-Pay Pricing data to be able to effectively optimize all prices for all market segments GLOBALLY.

  • Are you confident that you have the right price for your existing products or services in every market?
  • Do you know what the price should be for a new product yet to be launched, or existing products into new markets?
  • Do you know what features are REALLY driving your customers willingness to pay by micro-market segment?
  • Do you have the tool to capture the data required to support REAL value-based pricing?

Click to learn more

 

Congestion pricing is approved. What does that mean for Brooklyn? | Brooklyn Eagle

Congestion pricing is approved. What does that mean for Brooklyn? | Brooklyn Eagle

After years of debate, congestion pricing in New York City was approved in the $175 billion 2020 budget hashed out by the state legislature and Gov. Andrew Cuomo on Sunday. Cuomo touted the measure, which has been discussed since the days of Gov. Nelson Rockefeller, as a means of funding and reforming the MTA and […]

 

Pricer’s Points: Five Myths About Price and Discounting | Mark Boundy

Pricer’s Points: Five Myths About Price and Discounting | Mark Boundy

I can’t think of any concepts more misunderstood than price, pricing, and discounting. An alarming number of businesses price poorly, losing out on profits as a result. We even teach falsehoods about price at the college level. Let’s discuss five myths about pricing, and its Mr. Hyde alter-ego, discounting. I usually start breathing fire on this topic, so […]

 

Here’s a rare deal: $25 tickets to three dozen concerts | Star Tribune

Here’s a rare deal: $25 tickets to three dozen concerts | Star Tribune

Mega-promoter Live Nation is offering a special deal on tickets for $25 or less for three-dozen upcoming concerts. Yes, the company that specializes in “dynamic pricing” (read prices vary by supply and demand) is featuring discounts on many upcoming Twin Cities shows, starting with Pink Floyd’s Nick Mason on Wednesday and extending to Carbon Leaf on Oct. […]

 

I booked a holiday in November but it is now cheaper. Are travel companies allowed to do this?  | This is Money

I booked a holiday in November but it is now cheaper. Are travel companies allowed to do this?  | This is Money

In November, I booked a holiday with TUI to Fuerteventura for April 2019, partly encouraged by the marketing to book early and receive a discount, as well as the limited room availability on their website. I checked its website recently and the holiday is still on offer – but for £300 less, so I contacted […]

 

ACR targets step therapy and drug pricing in new position statements | EurekAlert!

ACR targets step therapy and drug pricing in new position statements | EurekAlert!

ATLANTA – The American College of Rheumatology (ACR) has released new drug pricing and step therapy position statements that they hope legislators will consider as they continue to explore policy and regulatory options to make drugs more affordable and accessible. “We continue to emphasize these topics because they are so critical to the well-being of […]

 

New York City’s Congestion Pricing Plan a First for US | VOA

New York City’s Congestion Pricing Plan a First for US | VOA

New York will become the first U.S. city to impose congestion pricing, seen as a key weapon against global warming, following lawmakers’ approval on Monday of a state budget to fund the plan. Drivers will have to pay to drive in busy midtown Manhattan, one of the city’s five boroughs, as part of an effort […]

 

The Baltimore Sun chosen to participate in Google News Initiative Subscriptions Lab | Baltimore Sun

The Baltimore Sun chosen to participate in Google News Initiative Subscriptions Lab | Baltimore Sun

The Baltimore Sun has been named one of 10 newsrooms selected to take part in a Google initiative aimed at developing a sustainable business model for newspapers across North America through digital subscriptions. Google News Initiative’s Subscriptions Labs is a six-month experience during which newsrooms, including The Sun, will undergo a mix of quantitative and […]

 

Students express frustrations at financial aid forum | The Justice

Students express frustrations at financial aid forum | The Justice

Avery clarified that Brandeis’ financial support works by evaluating the family’s “ability to pay, not willingness to pay.” She added that if willingness to pay was considered for all students, “We would probably cover the full cost [of a lot of students’ educations].” Dean Adams, reading from his phone, asked the group to explain the […]

 

 

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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