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Pricing News Daily > 6/24/19

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:

Professional Pricing Society

Currently, PPS produces three major annual pricing conferences in Europe and North America. Each conference also houses a technology hall where sponsors display the latest in Pricing Solutions software. PPS also offers more than two dozen, full-day training workshops every year, taught by leaders in the pricing community. These workshops serve as the foundation for PPS’s Certified Pricing Professional (CPP) designation, our state of the art pricing certification program. Candidates may be certified after mastering a multi-stage curriculum followed by rigorous testing. Successful CPPs have acquired the core knowledge which not only places them in the top rungs of the pricing field, but also gives them the tools to enhance substantially their own careers.

Click a link below to learn more…

Ask a freelancer: value-based pricing | Millo

Ask a freelancer: value-based pricing | Millo

Millo Mastermind is a great place to talk shop about the business side of freelancing. We’re all great designers, writers, illustrators and artists, but the thought of contracts and pricing and scope creep can send even the most battle-tested freelancers running back to full-time employment. That’s why we decided to create a space dedicated to […]

 

Pricing by Performance: It’s time to stop the race to the bottom | Tamebay

Pricing by Performance: It’s time to stop the race to the bottom | Tamebay

Chris from Chris Turton Ecommerce is an ecommerce and marketplace consultant passionate about understanding how online businesses tick. He writes from experience and tries to answer questions from sellers to improve and share his knowledge. Today, Chris shares his experience of pricing by performance to maximise margins. Pricing by Performance So, your competitor is beating […]

 

White House vets foreign drug pricing idea; Trump creates Right to Try confusion | S&P Global Market Intelligence

White House vets foreign drug pricing idea; Trump creates Right to Try confusion | S&P Global Market Intelligence

Health and Human Services has sent its proposal to test an international drug pricing index model to the White House Office of Management and Budget for review, signaling the administration is serious about pursuing the idea. The administration in October 2018 initially issued an advance notice of proposed rulemaking — a bureaucratic mechanism used to […]

 

How dynamic pricing algorithms can increase gross profit by +10% | Towards Data Science

How dynamic pricing algorithms can increase gross profit by +10% | Towards Data Science

The Oil & Gas sector in Brazil has been facing challenges due to the economic crisis and the technological revolution. These are the main pain points: 1. The fuel resale segment is in a context of restrained margins by both sides of the supply chain: • The upstream segment reduces gas stations margins through increased […]

 

Expedia Pricing Tactics Powered By AI and Reams of Data, Says CEO | WebProNews

Expedia Pricing Tactics Powered By AI and Reams of Data, Says CEO | WebProNews

Expedia Pricing Tactics Powered By AI and Reams of Data We sit on reams of data with 750 million visits to Expedia Group properties every single month. That just gives us an incredible amount of understanding around what travelers are looking for, how we can tailor our search results, how we can tailor the recommendations […]

 

Despite cap on pricing import of medical devices rises | Rediff.com

Despite cap on pricing import of medical devices rises | Rediff.com

For items that are under price control, such as cardiac stents, imports have not slowed down. Of the two product categories that include stents as items of import, one grew 35 per cent to Rs 1,610 crore, while another grew marginally (1 per cent) to Rs 289.7 crore. Knee implant, another item under price control, […]

 

Selling fast: the hidden world of online pricing | RTE

Selling fast: the hidden world of online pricing | RTE

CNBC explainer on how airlines price tickets Bait and switch One of the oldest tactics in pricing practice, the bait and switch approach is very effective online. Online sellers can offer a wide range of prices across any category, to make it inviting to prospects to come in and browse. Once engaged, customers often find that the […]

 

How Customer-Driven, Pay-As-You-Go Pricing Changes Everything | OpenView

How Customer-Driven, Pay-As-You-Go Pricing Changes Everything | OpenView

Some SaaS companies still have the pricing strategy that their founder picked after a thirty minute whiteboarding session five years ago; those startups subist but rarely thrive. After fifteen years of running Logikcull, a Series B legal tech startup (and OpenView portfolio company), I’ve learned a lot about the art and science of pricing, particularly […]

 

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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