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Pricing News Daily > 4/3/19

PND is a digest of pricing focused news, thought leadership, events, jobs, training and certification resources for pricing professionals.

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The Perfect Price AI platform makes millions of pricing decisions for forward-thinking companies around the world. Our cloud-based service allows customers to quickly anticipate and react to changes in demand in real-time – enabling them to maximize revenues, profit, and utilization.

Its machine learning leverages proprietary data – the biggest competitive advantage–to increase average rates, utilization, and profit.

Perfect Price works with forward-thinking companies in industries ranging from rental car and airline to sports clubs and gas stations.

 

Elias: The Early Death Wish of Journalism | The Dartmouth

Elias: The Early Death Wish of Journalism | The Dartmouth

We all know the feeling — you’re scrolling through Facebook and you find that New York Times article you just have to read. Perhaps it’s about how unlovable Theresa May is, or breaking news that Donald Trump does have terrible cardiovascular health. You eagerly click on the article and BAM! You’ve been hit with the […]

 

Uber puts a larger fare if it knows you will pay | Tech Juice

Uber puts a larger fare if it knows you will pay | Tech Juice

The surge pricing on the popular ride-hailing service is not as simple as some people might have thought. According to a new report from Forbes, Uber, the US-based ride-sharing service, charges a larger fare if, through machine learning and artificial intelligence, it gets to know that the users would be willing to pay the increased […]

 

Uber Expands Ride Pass to 20 More U.S. Cities | Future Car

Uber Expands Ride Pass to 20 More U.S. Cities | Future Car

Consumers that don’t have an automobile and rely on ride-sharing companies like Uber and Lyft to get around can attest to how greatly prices can differ depending on traffic, weather, and surge pricing. Last October, Uber came out with a subscription service that allowed consumers willing to pay $14.99 a month to lock in flat […]

 

Your Smartwatch Could Now Cost More Than Your Smartphone | The Motley Fool

Your Smartwatch Could Now Cost More Than Your Smartphone | The Motley Fool

Apple (NASDAQ:AAPL) caused a stir when it priced the iPhone X at $1,000, but after it became a big hit, thousand-dollar smartphones from Samsung (NASDAQOTH:SSNLF), Oppo, and others quickly became the norm. And Huawei just unveiled its next-generation 5G folding smartphone. Cost? $2,600. Although these high-priced flagship phones garner a lot of attention, what’s gone […]

 

Trump Administration Announces Long-Awaited Rebate Changes: One Safe Harbor Eliminated, Two Others Created | P&T Community

Trump Administration Announces Long-Awaited Rebate Changes: One Safe Harbor Eliminated, Two Others Created | P&T Community

It is no surprise that the Trump administration did what it had been promising to do for the past year: tear up the get-out-of-jail-free card from the federal anti-kickback law, which PBMs have been enjoying since 1991. That “safe harbor” allows PBMs to take rebates from drug manufacturers in return for favorable placement of products […]

 

Fulham’s ticket pricing strategy is dim, short-sighted and shameful | iNews

Fulham’s ticket pricing strategy is dim, short-sighted and shameful | iNews

Supporters can accept their team playing badly. They can just about stomach the desperately poor defending and even the failed transfers, although there are valid questions to ask of a catastrophic period of recruitment under Tony Khan, de facto decision maker at Craven Cottage and son of the owner. They cannot have been too shocked […]

 

Lyft just had a lousy day but that’s its own problem, not the stock market’s | CNBC

Lyft just had a lousy day but that’s its own problem, not the stock market’s | CNBC

Lyft may have launched with a frothy stock price in a not so frothy stock market. The ride share company’s freshly minted stock, after an initial surge, fell below its offer price on its second day of trading Monday, a warning that other hyped unicorns may have to be more conservative about their price in […]

 

Council Post: How To Make Your Agency’s Pricing Structure More Profitable (Without Losing Clients)

Council Post: How To Make Your Agency’s Pricing Structure More Profitable (Without Losing Clients)

A much faster path to profitability is to readdress your agency’s pricing structure. Finding the right pricing structure for your agency can be complicated. It can be hard to know whether you should charge per hour or per project and what each of those prices would be. However, by reevaluating your pricing structure to account […]

 

 

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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