Pricing News Daily > 4/6/18

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:value innoruption final 0612 rev

 

 

Value Innoruption Advisors

Founded by Dr. Stephan Liozu, Value Innoruption Advisors provides training and consulting resources for organizations interested in embedding value-based methodologies in their go-to-market strategies related to innovation, marketing, pricing, and sales. Value Innoruption Advisors offers two popular value and pricing management certification programs – Customer Value Modelers™ (CVM™) and Change Agent in Pricing™ (CAP™).

Click a link below to learn more…

 

Headlines

Steps taken by the Government to bring transparency in fixing prices of essential medicines | Business Standard

Steps taken by the Government to bring transparency in fixing prices of essential medicines | Business Standard

In order to have transparency, a draft version of the Price Calculation Sheets for the proposed revised price notifications, including wherever applicable, the Price to Retailer (PTR) and Moving Annual Turnover (MAT) values adopted for calculations, is uploaded on the website of NPPA for 10 clear working days to invite comments from the affected pharmaceutical […]

 

Healthcare – An expensive purchase without a price tag | Triad Business Journal

Healthcare – An expensive purchase without a price tag | Triad Business Journal

Healthcare is often one of the most expensive and important purchases an individual can make. We often hear rumblings about cost and how we must become better consumers of healthcare. But how is that possible when we really don’t know how much things actually cost? When we go to the doctor for lab work or an x-ray, there […]

 

Is it time for price transparency in healthcare? | BizTimes

Is it time for price transparency in healthcare? | BizTimes

Health economists and others have been calling for increased transparency in the cost of healthcare services for decades. But you don’t need a PhD to understand that it’s nearly impossible to stick to a budget unless you know how much your options will cost. Can you imagine shopping at a store that doesn’t show you […]

 

Retail is Reality (Part 1) | American Drycleaner

Retail is Reality (Part 1) | American Drycleaner

PRICE NOT MOTIVATOR Take the case of the retail icon JCPenney (JCP) as they went through a very visible and very publicized disastrous transition to “Lower Everyday Low Pricing.” According to a September 2013 article by Panos Mourdoukoutas writing in Forbes: “What haunts JCPenney? A strategic mistake regarding its pricing strategy — replacement of sales through […]

 

Teva, Valeant price-hike plans trigger warnings under California’s new transparency law: report | FiercePharma

Teva, Valeant price-hike plans trigger warnings under California’s new transparency law: report | FiercePharma

California is among a group of states that have taken drug prices into their own hands, with lawmakers last year passing a bill aimed at shining new light on the pricing process. Now, the state is starting to see early results. Documents obtained by Politico show that Valeant Pharmaceuticals plans a 63% price hike on a generic glaucoma […]

 

PhRMA argues early notice of price hikes won’t benefit patients | BioPharma Dive

PhRMA argues early notice of price hikes won’t benefit patients | BioPharma Dive

Dive Brief: Informing payers of looming drug price hikes hurts patients much more than it helps, industry trade group PhRMA argued in a blog post published last week. The post comes as a growing number of states are considering and passing legislation aimed at making drug pricing decisions more transparent. California’s State Bill 17 is […]

 

Fixed-Price Buying Prevents Marketers From Unlocking The Power Of Their Data | AdExchanger

Fixed-Price Buying Prevents Marketers From Unlocking The Power Of Their Data | AdExchanger

The misconception of fixed-price buying Many advertisers use private marketplaces to curate a group of premium publishers, assuming . they will get priority access to the best inventory. This is not the case anymore. Collapsing publisher waterfalls and competition through header bidding may cause fixed-price deals to compete alongside open-market bids, leaving price and yield […]

 

Grubhub delivers food for free in Charleston through April | postandcourier.com

Grubhub delivers food for free in Charleston through April | postandcourier.com

Charleston is suddenly being served by a variety of ordering and restaurant delivery companies. Quickfoxes is the original local business that continues to service a large selection of restaurants. UberEats has muscled in with delivery from national chains like McDonald’s and Papa John’s in addition to a large selection of local places. EatStreet is also […]

 

Pricing Jobs

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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

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

 

 

“There is scarcely anything in the world that some man cannot make a little worse, and sell a little more cheaply. The person who buys on price alone is this man’s lawful prey.”

     – John Ruskin

 

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