OnDemand WTP Pricing Research

Pricing News Daily > 6/1/15

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: 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

Dynamic Pricing Can Lower Ticket Revenues If Misused | Forbes

Dynamic Pricing Can Lower Ticket Revenues If Misused | Forbes

Dynamic pricing is all the rage in analytics-based live event circles. The ticket selling system, by which prices in the primary market automatically fluctuate based on supply, demand, time, team performance, and a number of other factors, is currently employed by 21 MLB teams. In a recently released research paper finalist for the 2015 Sloan Sports Analytics […]

 

 

Are you charging your customers enough? Why companies fail at premium pricing | Financial Post

Are you charging your customers enough? Why companies fail at premium pricing | Financial Post

The problem with focusing on market share is that growth is often achieved at the expense of competitors. “Switchers” are the most difficult customers to attract, frequently requiring discounted pricing or free trials, and are also the most difficult to retain. The result is generally a temporary increase in market share that does not translate […]

 

 

Shadow Pricing, Highway Robbery, and the Price of Drugs | Medpage Today

Shadow Pricing, Highway Robbery, and the Price of Drugs | Medpage Today

It’s often difficult to pinpoint the moment a revolution starts, but when it comes to the issue of drug pricing, it’s quite possible that we’ll look back at Dec. 6, 2013, as the day that everything changed. That was the day that Gilead’s Sovaldi was approved for sale by the FDA. Sovaldi’s launch — and […]

 

 

You Can Earn As Much Or More From A Pay-What-You-Want Model As From A Fixed Price Model | Forbes

You Can Earn As Much Or More From A Pay-What-You-Want Model As From A Fixed Price Model | Forbes

Summary: We conducted a large experiment to test pricing strategies for our book and came to some very surprising findings about allowing customers to pay what they wanted. Specifically, we found strong evidence that we should let customers pay what they want, which would help us earn more money and more readers when compared with […]

 

 

J.C. Penney Facing Lawsuit Over False Sale Prices (NYSE:JCP) | sleekmoney

J.C. Penney Facing Lawsuit Over False Sale Prices (NYSE:JCP) | sleekmoney

After many years of accusations of artificially inflating prices just to mark them back down to create the appearance of a “sale” price, J.C. Penney is facing a lawsuit over the practice. J.C. Penney has been hit with a class-action lawsuit in California federal court over its pricing strategies. The lawsuit calls the company’s pricing […]

 

 

 

Lake Charles Memorial Hospital Wins Revenue Cycle Leadership Award | PR.com

Lake Charles Memorial Hospital Wins Revenue Cycle Leadership Award | PR.com

Charlotte, NC, May 23, 2015 –(PR.com)– PMMC, a leading provider of revenue cycle management solutions, awarded Lake Charles Memorial Hospital with the 2015 Revenue Cycle Leadership Award for “Bridging the Pricing Transparency Gap,” a recognition that reflects Lake Charles Memorial Hospital’s leadership and proactive approach toward price transparency. The award was formally presented to Lake […]

 

 

What Makes a Fair Offer and Asking Price? | Lubbock Avalanche-Journal

What Makes a Fair Offer and Asking Price? | Lubbock Avalanche-Journal

When you’re buying anything — and that includes a house — you want to be as informed as possible. One of the most important factors in the purchase of a home is determining what makes a fair asking price and, by extension, a fair offer — one that is more likely to be accepted. How […]

 

 

Browns fans sound off on ticket pricing tiers | 19 Action News

Browns fans sound off on ticket pricing tiers | 19 Action News

Variable pricing plans have already been implemented in other pro sports. The Cleveland Indians switched over to a similar pricing system several years ago. “Pro baseball was the first one to do this,” said Klang. “I think it’s a trick to be able to raise prices,” said Browns fan Chris Ham. “I think it’s a […]

 

 

PepsiCo tackles ‘magic’ price points | warc.com

PepsiCo tackles ‘magic’ price points | warc.com

SINGAPORE: Global brands operating in developing countries can free themselves from the restrictions imposed by “magic price points” by developing a better understanding of the perceived value of their brands to consumers, according to PepsiCo. As most transactions in these markets are on a cash basis, typically at a small store, brands have tended to […]

 

 

Pricer’s Points: Dynamic Pricing – Coming to a brick-and-mortar store near you | Jose Mendoza

Pricer’s Points: Dynamic Pricing – Coming to a brick-and-mortar store near you | Jose Mendoza

However, what is interesting from the use of beacons in retail stores is the ability to deliver dynamic pricing in the retail environment. This is fascinating as dynamic pricing was restricted to Internet stores. By developing the relevant algorithms into the beacon platform, it is possible to deliver more than coupons or store invitations in […]

 


This Week in Pricing > 5/30/15

Headlines
– The Ultimate Guide to the Psychology of Pricing | Inc.com
– Beware of These Pricing Tricks Retailers Use to Fool Your Brain | Tech Blog
– Name Your Own Price For A Plane Seat With This Brilliant New App | Conde Nast Traveler
– Discussion: UK supermarkets dupe shoppers out of hundreds of millions, says Which? | The Guardian
– Key Steps to Increasing Profitability Strategy— Determining Pricing Strategy | Weklar Business Institute

…and more

 

Events

Webcast: How to Stop Undisciplined Discounting | SPA

When: June 3 2015 2:00 PM Eastern

Register to attend our webcast where Kevin Mero, MBA, PMP, Project Manager at Equipment Depot, will share their journey to pricing excellence and how they are leveraging science-based strategic pricing tools to stop undisciplined discounting. To implement a solution that enhanced profitability, developed pricing discipline, and removed emotion from the pricing […]

Conference: Strategic Pricing Conference | SPA

When: June 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…

– – – – – – – – – – – –

“People tend to be clueless about prices. Contrary to economic theory, we don’t really decide between A and B by consulting our invisible price tags and purchasing the one that yields the higher utility, he says. We make do with guesstimates and a vague recollection of what things are “supposed to cost.””

     – William Poundstone

 

Pricing Resources

Explore our archives of valuable pricing resources including:

Training: Online Courses | Stephan Liozu

Please find below the links to several online courses prepared for Professional Pricing Society as well as free-of-charge webinars on the themes of value and pricing. SAMA: Value Quantification in Strategic Account Management (Registration Required) – 2013 SAMA: Value Quantification – Working on Economic Value Estimation (Registration Required) – 2013 Pros Pricing: is it Time […]

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.

Posted in: Pricing News Daily

Post a Comment

WP-SpamFree by Pole Position Marketing