Pricing News Daily > 4/26/18

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.

 

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Vistaar

Vistaar is leading SaaS software provider that enables companies to optimize pricing, promotion, configuration, and rebate management.  Our solutions are powered by predictive models leveraged by machine learning that deliver profitable growth and maximize shareholder value.  Our world-class customer base spans a broad range of industries throughout the Global 2000 and includes: manufacturing, beverage alcohol, retailers, and many others.

 

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Headlines

Pricing: Does Fortune Favor the Bold or the Prepared? | Paul Greifenberger

Pricing: Does Fortune Favor the Bold or the Prepared? | Paul Greifenberger

With every sales bid, there are new data that can be used to improve pricing. Yet, much of this potential remains untapped. Why? Because data gaps and uncontrolled sales cycle data variables are significant roadblocks. Find out how Vistaar’s leading edge pricing practices and price science techniques can help you overcome the roadblocks. It’s worth the effort because […]

 

New technology will cut New York state’s emissions and utility bills | Crain’s New York Business

New technology will cut New York state’s emissions and utility bills | Crain’s New York Business

The right smart-home technologies can make these investments go further. Utilities, including Con Edison and National Grid, have innovated and enticed many customers to participate in efficiency programs. In addition, smart thermostats are foundational for other energy services such as demand response and dynamic pricing. Of course, the broader the engagement and participation, the greater […]

 

Complete Energy Democratization Is Coming. Let’s Get Ready. | Shift NewCo

Complete Energy Democratization Is Coming. Let’s Get Ready. | Shift NewCo

The underlying problem is that there aren’t many financial incentives for customers to buy smart meters (most customers who do have smart meters were required by their state, or were heavily subsidized, to install them). At present, smart meters don’t matter for most customers because they don’t make a difference to cost. Most customers are […]

 

Google and Amazon trump social influencers | Enterprise Times

Google and Amazon trump social influencers | Enterprise Times

Google and Amazon the starting point for shoppers Search engines are now the start point for many shoppers. According to the survey Google (32%) and Amazon (33%) are the start point for shoppers. This will worry retailers who have invested in their own applications. If consumers are not starting with the app they have built […]

 

Express Scripts Targets New Migraine Drugs to Change U.S. Pricing Dynamic | P&T Community

Express Scripts Targets New Migraine Drugs to Change U.S. Pricing Dynamic | P&T Community

The largest U.S. manager of prescription benefits is telling drug-makers that the current pricing model is broken and is taking aim at Amgen and other makers of new migraine medicines to try and fix it, according to a Reuters report. Express Scripts told Reuters it is pressing them to forego the usual strategy of setting […]

 

App cab commuters wary of surge-pricing burden | Times of India

App cab commuters wary of surge-pricing burden | Times of India

KOLKATA: The price burden has become heavier for appcab commuters nowadays as surge pricing prevails for the better part of the day and it has become difficult to figure out when and why it prevails. Also, it has become next to impossible to gauge whether surge fare prevails at a particular time as the apps […]

 

To work, dynamic pricing must be transparent | Travel Weekly

To work, dynamic pricing must be transparent | Travel Weekly

In the nearly three years I’ve been on the Travel Weekly staff, no story I’ve written has resonated as widely as my Feb. 19 report about the onset of dynamic pricing in the airline industry. Within two weeks of publication, the story had spawned coverage in sources as wide-ranging as Travel + Leisure, the Chicago […]

 

Colorado bill relies on transparency to lower health care prices, critics say it might not work | Denver Post

Colorado bill relies on transparency to lower health care prices, critics say it might not work | Denver Post

Let’s say you need a colonoscopy. (Sorry about that.) And let’s also say you know there’s one hospital in Colorado that quotes a price of more than $5,000 for the procedure and several that quote a price of around $1,500 and a couple more that come in with prices under $1,000. Would you choose to […]

 

 

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Events and Resources

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: Successful Transformation for Strategy Optimization | Stratence Partners

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

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

Most organizations have objectives to improve their results for profit, volume and market share, but not all of them are really leveraging the most powerful lever for attaining these goals.

In Successful Transformation for Strategy Optimization, Commercial Effectiveness, and Pricing Excellence, pricers will learn the concepts, best practices and methodologies that have been proven effective in creating successful pricing transformation journeys. We will review these tactics by examining five real-world business case studies from across five different industries (Pharma, Heavy Machines, Distribution, Software Services, and Banking) and diverse global markets (Germany, France, Sweden, Italy, and UK). We will then use the lessons learned in these transformation examples to help attendees identify key challenges, solutions and recommendations for their own unique pricing transformation journeys.

Join us in moving beyond the theory as we connect with case studies from top professionals in different industries on their transformation journey to extract lessons learned.

Attendees will learn:

  • The concepts, best practices, and methodologies proven successful in transformation journeys
  • From 5 real world business cases across diverse industries and global markets
  • To expose key challenges and obtain pragmatic and successful solutions, insights and recommendations

(Level 300 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

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!

 

 

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

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

 

 

“With the price of life these days, you’ve got to get everything for free you can.”

     – Carl Rogers

 

 

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