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Pricing News Daily > 4/16/15

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:

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Strategic Pricing Associates

SPA is the leading provider of pricing analytics to 100′s of complex companies of all types: manufacturing, distribution, equipment, services, and software/technology products. The benefits are staggering; and they are typically accomplished in less than 90 days. Our typical client improves profitability by two to four percent of sales. SPA Clients include over 200 manufacturing companies including Parker HannifinRockwellGEExxon MobilCaterpillar as well as over 400 distributors including Harry Cooper Supply CompanyIndustrial Distribution GroupAH Harris, and ThermoFisher Scientific.

Click a link below to learn more…

Headlines

The pricing renaissance: New ways to reduce risk and unlock value | McKinsey on Marketing & Sales

The pricing renaissance: New ways to reduce risk and unlock value | McKinsey on Marketing & Sales

Pricing always involves risk and uncertainty. You make the best decision you can, but you can’t tell how it will play out until you put your price in front of customers and see how they react. That’s true whether you are changing list prices, adjusting discounts, altering your negotiating posture, or introducing a new pricing […]

LET YOUR CUSTOMERS SEGMENT THEMSELVES BY WHAT THEY’RE WILLING TO PAY | IMD

LET YOUR CUSTOMERS SEGMENT THEMSELVES BY WHAT THEY’RE WILLING TO PAY | IMD

If you’re out to capture more value, one surefire tactic is to figure out a way to charge different prices to customers with different willingness-to-pay (WTP). Economists sometimes call this “price discrimination,” which sounds bad since discriminating against people is generally illegal, not to mention immoral. However, most of us encounter forms of price discrimination […]

How to Formulate A Premium Pricing Strategy | Entrepreneur

How to Formulate A Premium Pricing Strategy | Entrepreneur

Customers are constantly looking for ways to save money rather than spend more of it, so companies that position products in the premium price range may struggle. However, with the right formula, you can earn the right to charge customers more than your competitors do. If you’ve been marketing your products or services as low-cost […]

Michael Kors loses “best idea” status | Business Insider

Michael Kors loses “best idea” status | Business Insider

Michael Kors is considered an aspirational brand, with consumers paying a premium for its label. Once everyone has the product, it is no longer considered cool. Other brands that have experienced this phenomenon include Juicy Couture, Jordache, and Coach. Michael Kors also has several brands at different price points, a strategy that could easily backfire, […]

The lower prices are a result of world oil supplies growing faster than demand because of higher production | Supply & Demand Chain Executive

The lower prices are a result of world oil supplies growing faster than demand because of higher production | Supply & Demand Chain Executive

NEW YORK (AP) — Drivers will see the lowest summer gasoline prices in about 6 years, according to the Energy Department. The national average price is forecast to fall 32 percent from a year ago to $2.45 a gallon between April and September, the period when Americans do most of their driving. That would mark […]

Skimming and penetration pricing strategies a thing of the past | Dynamic Business

Skimming and penetration pricing strategies a thing of the past | Dynamic Business

Pricing products at a high price or a low price to attract consumers are no longer widely used strategies, according to new study published in Marketing Science journal. The research found that the strategies of skimming, pricing products at high prices in order to drive demand and motivate shopping for quality, and penetration, launching products […]

Pricing Strategy – Tips and Caveats for Discount Pricing | CFO Tips

Pricing Strategy – Tips and Caveats for Discount Pricing | CFO Tips

Discounts have their place, but more often than not, they are used incorrectly. Prior to offering a discount, controllers involved with establishing pricing strategy need to take the following steps: Understand your business economics. If you have a 15 percent profit margin and for a period of time you are willing to give up a […]

JSW to quote steel long product prices on daily basis now | Business Standard News

JSW to quote steel long product prices on daily basis now | Business Standard News

Faced with steep fluctuation in raw materials, steel producers have changed their strategy for fixing up selling prices of long products. To begin with JSW Steel has adopted the practice. While other long steel producers like Steel Authority of India (SAIL), Rashtriya Ispat Nigam Ltd (RINL) and Tata Steel are currently holding on the earlier […]

 

How Jewelry Resale Prices Are Determined | Jewelry Notes

How Jewelry Resale Prices Are Determined | Jewelry Notes

Selling jewelry can seem like an overwhelming process when it is done for the first time, and understanding pricing is essential. You may have heard the story of someone buying a brand new car from a dealer and then driving it off the lot. When the car is being sold secondhand years down the road, it […]

Pricer’s Points: PRICING – 7 TIPS FOR THE PROFIT MAKER | Jacob Jones

Pricer’s Points: PRICING – 7 TIPS FOR THE PROFIT MAKER | Jacob Jones

DA VINCI DELIGHT – ART & SCIENCE UNITED Good pricing capability needs a blend of left and right brain application, creative and scientific, to deliver sustainable value. The skill is to manage the tension between what is ‘Value’ and what is ‘Price’. Two Circles believe that competing on value derives a greater long-term return than implementing a […]

 


This Week in Pricing > 4/12/15

Headlines
– Marketers defy theorists’ advice on pricing strategies for consumer tech products – study | Marketing Magazine
– Is ‘Demand Pricing’ at Parking Meters Like Uber’s Surge Pricing? | Boston Magazine
– If It’s “FREE” to the Customer, Are You Really Selling? | The Sales Hunter
– How Low Should You Go? | NRF
– What Happens When You Try To Fool Customers | Forbes
…and more

 

Events

Webcast: How Strategic Pricing Tools Can Identify Price-sensitive Products and Services | SPA

When: April 22, 2015 2:00 PM Eastern

Register to attend our webcast where an SPA client will share their journey to pricing excellence and how they are leveraging science-based strategic pricing tools to stop margin erosion by identifying price-sensitive products and services. To implement a solution that enhanced profitability, developed pricing discipline, and removed emotion from the […]

Workshop: Change Management in Pricing | Stephan Liozu

When: May 5-6, 2015

Where: Dallas, TX at the Hilton Anatole Hotel

Theories, Best Practices and a Transformational Framework More than 70% of projects fail because of the inability of organizations to change. The same goes with pricing projects and initiatives. Change in value and pricing management is challenging, sometimes tenuous, and might take a long time to […]

Conference: Manufacturing Pricing Excellence – Barcelona 2015

When: May 20-22, 2015

Where: Barcelona, Spain

Event Overview On behalf of Copperberg and the entire Pricing competence team I am delighted to announce our 3rd Annual Manufacturing Pricing Excellence conference scheduled for 20-22nd of May 2015 in Barcelona, Spain. Since our last edition in Amsterdam, together with our advisory board and delegate network we have been […]

Conference: Strategic Pricing Conference | SPA

When: June 11-12, 2015

Where: Las Vegas, NV at the Vdara Hotel & Spa at Aria

Learn how leading manufacturing and distribution executives have unlocked the keys to faster growth, stronger customer relationships, and market-leading profitability with SPA’s proven strategic pricing processes and technology. Event Overview Equal parts strategy and practical tactics, this complimentary Strategic Pricing Executive Overview event […]

 


 

The following is a daily-dose of pricing cartoons and quotes, enjoy…

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

     – Carl Rogers

Pricing Resources

Explore our archives of valuable pricing resources including:

Blog: Case Studies – Distributors | Strategic Pricing Associates (SPA)

The following are highlights from some of  our distributor client case studies that will help you to learn more about the significant margin improvement with a fast ROI realized by some of the 400 distributors that have partnered with SPA. These case studies cover all aspects of SPA’s work with clients including data and analytics, sales force […]

Pricer’s Points Blog Series

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.

Check out some recent additions…

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.

Check out some recent favorites…

Pricing News LinkedIn Group

Join 1,000’s of your peers in the our LinkedIn discussion group. The group offers a place to share the latest pricing strategy and technology, news, events, resources, thought leadership, and discuss the latest pricing related successes and failures in the news.

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