Pricing News Daily > 6/12/15

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: SPA_logo_color LinkedIn 2

 

 

 

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

IVDI – The Greatest Luxury Goods Pricing Strategy You’ve Never Heard Of | Business 2 Community

IVDI – The Greatest Luxury Goods Pricing Strategy You’ve Never Heard Of | Business 2 Community

The Breakdown Essentially, the IVDI formula creates an index for any luxury product category so long as you have basic information on other brands in the same industry. This is an incredibly useful way to predict consumer thinking without having to test different price points on the shelf. In the below formula, “Ut” represents utilitarian […]

 

6 Factors That Influence Your Air Cargo Pricing Strategy | Mercator

6 Factors That Influence Your Air Cargo Pricing Strategy | Mercator

The complexity of the air cargo business demands a dynamic pricing strategy that allows carriers to quickly and efficiently adjust their rates in response to fluctuating market conditions. The carriers that learn to do this most effectively will have a distinct competitive advantage. How well is your airline using the following factors to set prices? Economic […]

 

How Do Companies Quietly Raise Prices? They Do This | WSJ

How Do Companies Quietly Raise Prices? They Do This | WSJ

When spice maker McCormick & Co. started shipping 25% less pepper earlier this year in the same packaging at about the same price, it was engaging in an age-old means of getting frugal consumers to pay more for less. Consumer-products makers have used similar tactics as a way of pushing through effective price increases for […]

How Accor Have Used Data Driven Dynamic Pricing to Triple Conversions (Video) | Hotel News Resources

How Accor Have Used Data Driven Dynamic Pricing to Triple Conversions (Video) | Hotel News Resources

80% of the data available today was created in the last 18 months. “Big data” is now creating more headaches for travel brands than solutions. The answer is “fast data”. In this video presentation Agnes Roquefort, SVP Revenue Management, Accor, explains how it is not the amount of data which counts, but having the right […]

 

Jets To Implement Dynamic Pricing For Season-Tickets; Browns Also Change Pricing Model | SportsBusiness Daily | SportsBusiness Journal | SportsBusiness Daily Global

Jets To Implement Dynamic Pricing For Season-Tickets; Browns Also Change Pricing Model | SportsBusiness Daily

The NFL Jets have informed season-ticket holders that they will be “using a variable-pricing plan for home games this season,” according to Kimberley Martin of NEWSDAY. The team “utilized variable pricing for individual game tickets last season, but this is the first time they’re using it … Read complete article here: Jets To Implement Dynamic […]

 

Controversy brewing around hospital pricing legislation | Boston Business Journal

Controversy brewing around hospital pricing legislation | Boston Business Journal

One of the state’s most prominent unions is looking to upend the health care applecart with a legislative proposal that would regulate the prices negotiated between insurers and hospitals. The bill, filed in the Massachusetts Senate by State Sen. Benjamin Downing with the support of health care workers union 1199SEIU, seeks to create a range […]

 

The Price is Right – OR IS IT? | Retail Leader

The Price is Right – OR IS IT? | Retail Leader

Setting prices is one of the trickiest aspects of CPG retailing. How do you develop a strategy that will deliver a good return but won’t turn customers away? Recognizing the challenges inherent in the pricing equation is the first step on the road to optimization, industry experts say. “One of the biggest challenges is the […]

Five Pricing Principles for Startups | Appster

Five Pricing Principles for Startups | Appster

How to price your product is among the most important and difficult decisions you can make. Your pricing strategy can affect both your revenue, profitability and your user growth, all of which are at the core of defining a startup. There are no definite answers to resolve the pricing question, however, there some principles to […]

 

Does the Price of Your Product “Feel Right” to Consumers? | Brooks Bell

Does the Price of Your Product “Feel Right” to Consumers? | Brooks Bell

In a competitive environment, determining the optimal price for a product or service is a complex business problem—and it’s made more difficult by the reality consumers struggle to determine or remember the price of common products. This challenge has been exploited for our entertainment on The Price is Right for decades, but it can be a […]

 

Pricer’s Points: A Short Story About Pricing | Brett Johnson

Pricer’s Points: A Short Story About Pricing | Brett Johnson

The ‘dark art’ of pricing your products and services is a challenge faced by all business owners. Before sharing my thoughts on the subject below, I can highly recommend reading ‘Persuade Your Customers to Pay More’ by Ian Brooks. This book is a very practical and useful guide to how we should all be thinking […]

 

Looking for news related to Pricing Psychology?

Search through our ever growing database of top pricing articles on Pricing Psychology. You can also find the latest on other “Hot Topics” in the news via the drop down list added under the “News” navigation menu. Examples of the latest follows… Think of Pricing as One Element of Persuasion (Video) | Inc.com Valerie Casey, founder […]

This Week in Pricing > 6/6/15

Headlines
– For The Pricing Of New Cholesterol Lowering PCSK-9 Drugs, Does Dose Size Matter? | Forbes
– How Bunnings’ prices are designed to nail customers | The New Daily
– Woolworths faces multimillion-dollar hit from private label price cuts, brokers say | The Sydney Morning Herald
– Penetration Pricing: How Costco and Kroger Co Dominate Grocery Retail | The Motley Fool
– Is demand pricing coming to Disneyland? | LA Times

…and more

Events

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 […]

16th Silicon Valley Pricing Forum | Simon-Kucher & Partners

When: June 24, 2015

Where: Palo Alto, CA at the Four Seasons Hotel

We cordially invite you to our 16th Silicon Valley Pricing Forum. Simon-Kucher & Partners is “the world leader in giving advice to companies on how to price their products” (BusinessWeek). Our projects have helped clients across a wide range of industries to achieve significant improvements in profitable growth. Build connections with fellow senior leaders in […]

Webcast: Improving Margins Through a More Strategic Approach to Pricing | SPA

When: July 15 2015 2:00 PM Eastern

Register to attend our webcast where a SPA client will share their journey to pricing excellence and how they are leveraging science-based strategic pricing tools to improve margins through a more strategic approach to pricing. To implement a solution that enhanced profitability, developed pricing discipline, and removed emotion from the […]

Webcast: Increasing Prices and Margins Without Sacrificing Sales Volume | SPA

When: August 12 2015 2:00 PM Eastern

Register to attend our webcast where a SPA client will share their journey to pricing excellence and how they are leveraging science-based strategic pricing tools to increase prices and margins without sacrificing sales volume. To implement a solution that enhanced profitability, developed pricing discipline, and removed emotion from the pricing […]

Webcast: How to Change the Pricing Culture in Your Company | SPA

When: September 23 2015 2:00 PM Eastern

Register to attend our webcast where a SPA client will share their journey to pricing excellence and how they are leveraging science-based strategic pricing tools to change the pricing culture in their company. To implement a solution that enhanced profitability, developed pricing discipline, and removed emotion from the pricing […]


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

– – – – – – – – – – – –

“Consumers rarely respond to the lower prices enough to offset lower margins.”

     – KURT JETTA

Pricing Resources

Explore our archives of valuable pricing resources including:

4 Things Retailers Should NOT Do this Holiday Season | Wiser

Don’t Engage in A Price War It’s the holidays, and you know that shoppers will be looking for the lowest price. Sales and low prices will be everywhere, and it will be tempting to match every low price you see. However, this can lead to a price war and cut into your profit, depleting your […]

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