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Pricing News Daily > 7/16/19

PND is a digest of pricing focused news, thought leadership, events, 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.

Spark’s electric cars now available to rent in Bucharest at double the price of an electric scooter | Business Review

Spark’s electric cars now available to rent in Bucharest at double the price of an electric scooter | Business Review

Spark, a Lithuanian startup that is also present in Bulgaria, was launched officially in Romania on Wednesday. The company offers electric car rentals which are similar to electric scooter rentals, with payment by the minute. Users must install the app and upload the necessary documents (driver license, bank account), without the need of a deposit. […]

 

4 ways to rethink airline RM in a personalised world | EyeforTravel

4 ways to rethink airline RM in a personalised world | EyeforTravel

Travel suppliers were early adopters of analytical tools for demand forecasting and pricing, but the drive to personalisation is making RM work harder. Tom Bacon explains Revenue management (RM) has certainly always been highly quantitative – requiring unique statistical and business-analytical skills to optimise use of sophisticated systems. Today, however, personalisation drives RM to ever-higher […]

 

Price Controls Best Way to Cut Health Costs, Economists Say | Medpage Today

Price Controls Best Way to Cut Health Costs, Economists Say | Medpage Today

WASHINGTON — Are price controls really the best solution to lower healthcare costs? “I’m a card-carrying economist — my card may be revoked, [but] I’ll just say ‘Yes,’” said Dan Polsky, PhD, professor of health economics at Johns Hopkins University in Baltimore, speaking Monday at an event on U.S. health spending sponsored by the Robert […]

 

Medicare price lookup tool good model for private market | Fox Business

Medicare price lookup tool good model for private market | Fox Business

A true free market relies on open, fair competition. In order to achieve this, an informed consumer Opens a New Window. is required. They must be fully aware of the choices they have at their disposal and how much they cost Opens a New Window. , so they can properly weigh their options. At that […]

 

Endless Traffic, Mass Confusion, Ride-Share Price Gouging Creating Chaos At LaGuardia Airport | CBS New York

Endless Traffic, Mass Confusion, Ride-Share Price Gouging Creating Chaos At LaGuardia Airport | CBS New York

NEW YORK (CBSNewYork) – A multi-billion dollar construction project at LaGuardia Airport is causing more than a minor inconvenience. Many travelers have to take another trip before they head home and many are now complaining of price gouging. On the Sunday night after July 4th, frustrated passengers fresh off a flight thought the long line […]

 

Whole Foods grocery prices haven’t notably decreased since Amazon acquisition, study finds | Consumer Affairs

Whole Foods grocery prices haven’t notably decreased since Amazon acquisition, study finds | Consumer Affairs

In the two years since Amazon acquired Whole Foods, the average cost of groceries for Prime members who shop at chain has dropped a mere ten dollars, according to a study released Wednesday by Gordon Haskett Research Advisors. After purchasing Whole Foods in 2017 for $13.7 billion, Amazon set out to help the notoriously pricey […]

 

Hotels Face Growing Backlash Against Resort Fees | Consumer Reports

Hotels Face Growing Backlash Against Resort Fees | Consumer Reports

Hotels that levy resort fees—daily charges for using the hotel’s facilities—are under growing pressure to disclose them more clearly or include them in their advertised room price. Karl A. Racine, the attorney general for Washington, D.C., announced Tuesday that his office had filed suit against hotel giant Marriott International, accusing it of “price deception” in the […]

 

Tshwane under fire by Nersa for failing to submit electricity pricing study | Pretoria News

Pretoria – The City of Tshwane on Thursday came under fire for failing to submit a study regarding its assessment of electricity pricing it implemented on July 1. This transpired at Sierra Burghers Park Hotel in Pretoria, where the National Energy Regulator of South Africa (Nersa) hosted the public hearing regarding the City’s proposed application […]

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.

 

15th Annual European and Global Pricing Workshops & Conference November 27-29, 2019 in Berlin, Germany | PPS

We are excited to announce we’ll be in Berlin, Germany for our 15th Annual European and Global Pricing Workshops & Conference to be held November 27-29, 2019!

 

“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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