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Pricing News Daily > 5/23/19

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:

Perfect Price

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.

Three Tips To Set The Price Point For Your Product Or Service | Entrepreneur

Three Tips To Set The Price Point For Your Product Or Service | Entrepreneur

Setting the price point for your product or service is one of the biggest obstacles to success when starting a business. You could have the best offering in the world, but without charging the right amount you will either lose money or lose customers. Either way, you’ll be out of business before you know it. Here are […]

 

Weekly resin report: Some processors bank on PE supply surge that will send resin prices lower | PlasticsToday

Weekly resin report: Some processors bank on PE supply surge that will send resin prices lower | PlasticsToday

So, how busy were the spot resin markets last week? Well, at mid-month, resin trading was nearly double the historic average, reports the PlasticsExchange (Chicago) in its Market Update. Polypropylene  (PP) prices inched up another cent while polyethylene (PE) prices held firm, having consolidated recent gains at slightly elevated recovery levels. With the April PE […]

 

House Drug Pricing Hearing Goes Off Script | IPWatchdog

House Drug Pricing Hearing Goes Off Script | IPWatchdog

Most Congressional hearings are morality plays designed to reach a predetermined outcome. It wasn’t hard to predict how the second hearing on drug pricing by the House Committee on Oversight and Reform was supposed to go. If the title, “HIV Prevention Drug: Billions in Corporate Profits after Millions in Taxpayer Investments” wasn’t enough of a […]

 

Prada Joins the Likes of Chanel, Hermès, and Louis Vuitton in a Global Quest for Uniform Pricing | The Fashion Law

Prada Joins the Likes of Chanel, Hermès, and Louis Vuitton in a Global Quest for Uniform Pricing | The Fashion Law

Prada plans to cut down on the number of wholesale partners stocking its products in Italy and Europe in an attempt to enjoy uniform pricing throughout the market, and to stomp out markdowns of its high fashion wares. The announcement comes amidst a larger attempt by the Milan-based brand to regain its footing after years […]

 

THE CPP SPOTLIGHT – Spring 2019 | Professional Pricing Society

THE CPP SPOTLIGHT – Spring 2019 | Professional Pricing Society

Announcing the most recent graduates with their Certified Pricing Professional Designations.  ATLANTA, GEORGIA, May 21, 2019- The Professional Pricing Society (PPS) is pleased to announce our recent Certified Pricing Professionals (CPP). Since 2003, individuals have joined the elite designation of the Certified Pricing Professional and used their knowledge to impact the field of Pricing. The […]

 

Walmart to take on Amazon Fire with trio of cheap Android tablets | ZDNet

Walmart to take on Amazon Fire with trio of cheap Android tablets | ZDNet

We’ve known for a couple of months that Walmart was preparing to inject some life into the moribund tablet market by releasing its own branded tablets, but a trio of the devices with the Onn house brand are finally arriving this week, according to Bloomberg. While Bloomberg surmises that Walmart is looking to chip away […]

 

The ‘green’ consumer has moved from fringe to mainstream, says Fair Trade USA | Confectionery News

The ‘green’ consumer has moved from fringe to mainstream, says Fair Trade USA | Confectionery News

Be clean, be green – and give back Premium chocolate has snagged an outsized role in recent years, as consumers show an increasing willingness to pay more for higher quality products – especially from producers that highlight their commitment to communities and sustainability. Clean-label chocolate in particular, which boasts simple ingredient lists free from artificial […]

 

It’s all about pricing in art | The Hindu

It’s all about pricing in art | The Hindu

It’s not easy to find out what sells and what doesn’t in art One of the most exciting parts of the Krea University’s admission process is the Krea Immersion Case, an expedition that takes short-listed liberal arts prospectives to outdoor sites and then engages them in a multi-disciplinary dialogue. The past weekend, I accompanied a […]

 

Webinar: Successful Price Increases using Market Insights | PriceBeam

Digitalization is everywhere of course. But whereas some industries are 100% digital from birth, others are still transforming from traditional consumer or industrial products to more of a digital service industry. Regardless of where your industry and company is on the digitalization path, pricing practices are severely impacted. Digitalization means increased transparency, more information,  as well as internationalization of buying and selling, but also new opportunities for value-adding and new services that can be offered and monetized.

Participants and viewers of the webinar will learn about:

  • What trends in digitalization mean for pricing.
  • Avoiding (some) pricing pitfalls when digitalizing existing offerings
  • Using digital insights to better understand opportunities
  • How to predict optimal prices for digital services using market research

The webinar will be available from the end of May 31st, 2019. If you have already signed up you will receive a link by the end of this date. Otherwise, sign up on the right and receive a link by email to view the recording.

 

 

Webinar (On-demand): Setting the Right Price on New Products or Services | PriceBeam

In this webinar PriceBeam co-founder and Chairman, Finn Hansen, together with The Pricing Coach, Mark Peacock walk viewers through various challenges around the pricing of new products or services.

This on-demand webinar covers:

  • Common challenges when creating new products or services
  • How pricing should play a more prominent role in the innovation process
  • The various steps of product development and how pricing can add value at each step
  • Different types of price research that can improve the value of the new product
  • Psychological pricing tactics to improve the introduction of the new product or service.

 

Webinar (On-Demand): Using AI To Get C-suite Attention For Pricing | Perfect Price and PPS

Pricing is high impact, but are you getting the attention you deserve? In any enterprise environment, the struggle for attention and resources is always an issue. As a pricing professional, how can you get c-suite attention for prioritizing pricing initiatives and allocating budget?

Aligning yourself with your company’s digital transformation initiatives is a great way to move pricing into the fold as a key driver. In particular, focusing on disruptive technologies like Cloud Technologies, AI, Machine Learning, and Decision Automation, can help to spark executive interest.

By choosing an AI vendor over other pre-internet vendors you’ll find more approachable budgets and rapid implementation timelines, which will aid immensely in getting executive buy-in. AI-based pricing tools, like Perfect Price, have measurable ROI and are proven to simulate pricing better than other technologies.

 

 

30th Annual Fall Conference & Workshops October 15-18, 2019 | PPS

We are excited to announce we’ll be in Las Vegas, NV for our 30th Annual Fall Pricing Conference & Workshops October 15-18, 2019! You can register now and take advantage of our Early Bird Offer.

 

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.

 

“The single most important decision in evaluating a business is pricing power,” Buffett told the Financial Crisis Inquiry Commission in an interview…

“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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