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Pricing News Daily > 6/20/19

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:

PriceBeam

B2B and B2C Pricing, Marketing, and Finance team leaders struggle to capture fresh, reliable, and actionable Willingness-To-Pay Pricing data to be able to effectively optimize all prices for all market segments GLOBALLY.

  • Are you confident that you have the right price for your existing products or services in every market?
  • Do you know what the price should be for a new product yet to be launched, or existing products into new markets?
  • Do you know what features are REALLY driving your customers willingness to pay by micro-market segment?
  • Do you have the tool to capture the data required to support REAL value-based pricing?

Click to learn more

 

Alcohol sales in Scotland hit 25 year low after minimum unit pricing introduced | The Independent

Alcohol sales in Scotland hit 25 year low after minimum unit pricing introduced | The Independent

Alcohol sales in Scotland fell to their lowest level since records began in 1994 in the first year that ministers set a minimum price of 50p per alcoholic unit. In 2018, the volume of alcohol sold in Scotland fell 3 per cent from 2017. However this was still equivalent to 9.9 litres of pure ethanol per adult on average – or […]

 

What Bluebird Bio Gets Wrong In Pricing For Its $1.8 Million Drug | Forbes

What Bluebird Bio Gets Wrong In Pricing For Its $1.8 Million Drug | Forbes

Beta thalassemia is a blood disorder that reduces the production of hemoglobin, the key iron-containing protein essential for the transport of oxygen to cells throughout the body. The diminished flow of oxygen causes weakness, fatigue, slow growth, bone abnormalities, and other serious complications. Affected individuals with severe symptoms require frequent blood transfusions in order to […]

 

FCA strengthens position on dual pricing | Insurance Age

FCA strengthens position on dual pricing | Insurance Age

The regulator has published a fresh response to the CMA. The FCA has outlined its position on the Competition and Markets Authority (CMA) investigation into dual pricing following the government response to the study. In a statement published today, 19 June, the FCA explained that its priority was fair outcomes for all customers and that […]

 

Startup lets you rent out your own car by the hour | NZ Herald

Startup lets you rent out your own car by the hour | NZ Herald

The idea behind YourDrive is that you can rent out your car during downtime – be it while you’re at work or away for a few days. The startup has software that will suggest hourly and daily pricing based on make and model, but an owner can override it if they choose. Ellison says allowing […]

 

Higher Pricing Will Likely Drive Procter & Gamble’s Sales | Market Realist

Higher Pricing Will Likely Drive Procter & Gamble’s Sales | Market Realist

Impressive performance Procter & Gamble’s (PG) top line has taken a hit due to currency fluctuations. However, the company’s organic sales have been impressive. Procter & Gamble’s organic sales have grown at a healthy rate in the first nine months of fiscal 2019. The company posted record organic sales during the last reported quarter. Procter & Gamble’s organic […]

 

The Cost of Price Transparency: Why Some Dealers Would Rather Alienate You Forever Than Reveal the Price of an Artwork | artnet News

The Cost of Price Transparency: Why Some Dealers Would Rather Alienate You Forever Than Reveal the Price of an Artwork | artnet News

After receiving a PDF blast about a gallery’s forthcoming show of a new artist, San Francisco-based collector and arts publicist Florie Hutchinson replied to ask about prices. “Thanks so much for your interest,” came the response. “Just to warn you it is fairly unlikely there will be a painting available as we have a lot of […]

 

Harnessing Big Data For Better Pricing Results | Professional Pricing Society

Harnessing Big Data For Better Pricing Results | Professional Pricing Society

Pricing strategies, like big data, can be key to improving profits in business. According to a study conducted by McKinsey & Company, even a 1 percent price increase can translate into an 8.7 percent boost in operating profits (assuming no loss of volume). However, companies continue to fail to price their products and services appropriately, […]

 

MTA And City Move Forward On Congestion Pricing | Gothamist

MTA And City Move Forward On Congestion Pricing | Gothamist

The MTA and the city’s Department of Transportation (DOT) are moving forward with preparations for implementing congestion pricing. For now, that means issuing a “Memorandum of Understanding” (MOU) on what the next steps are to get the program up and running. This is so both agencies are on the same page when it comes to […]

 

Webinar (On-demand): 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.

 

 

“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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