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Pricing News Daily > 7/19/19

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:

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

 

Marriott CEO rejects ‘drip pricing’ allegation, defends its resort fees [Video] | Yahoo Finance

Washington D.C. Attorney General Karl Racine, who is accusing the hotel giant of “drip pricing,” or charging consumers hidden fees, shouldn’t expect a quick settlement in his lawsuit against Marriott (MAR). Instead, the attorney general should expect an extended backyard brawl — done via the courts, naturally. “It’s frustrating of course because we have had […]

 

Uber accidentally charges riders 100 times more than advertised fare price | New York Daily News

Uber accidentally charges riders 100 times more than advertised fare price | New York Daily News

Talk about surge pricing! Uber passengers in several cities across the country took to Twitter to complain of a glitch that charged riders 100 times more than advertised fares, costing some thousands of dollars for trips that should have only been a few bucks. In one of the worst cases, Aaron Himelman said his wife […]

 

Kamala Harris Takes Aim at ‘Price-Gouging’ Drug Companies | The Fiscal Times

Presidential candidate Sen. Kamala Harris (D-CA) rolled out a proposal Tuesday to lower drug prices by cracking down on pharmaceutical firms. The plan is similar to proposals from both fellow presidential candidate Sen. Bernie Sanders (I-VT) and President Trump, which would empower the federal government to set reimbursement levels for some drugs. Under Harris’s proposal, […]

 

The Race To Zero: Price Wars In The Asset Management Industry | Seeking Alpha

The Race To Zero: Price Wars In The Asset Management Industry | Seeking Alpha

Summary Price wars in the asset management business have driven commissions to zero in both the direct investing and managed portfolio segments. Charles Schwab’s price leadership in robo advisory has its advantages in terms of cross-selling and generational capture, but it faces risks related to upsetting industry pricing and alienating advisors. Industry players such as […]

 

Hershey Stock Has 1 Less Bear on the Street as Candy Prices Rise | Barron’s

Hershey Stock Has 1 Less Bear on the Street as Candy Prices Rise | Barron’s

Buy Hershey candy, but not the stock. That is the overwhelming consensus of Wall Street. Less than 20% of analysts covering the iconic candy company rate the shares a Buy, far lower than the 55% average for stocks in the Dow Jones Industrial Average. Still, Hershey (ticker: HSY) stock rose about 3% on Wednesday after […]

 

Tesla’s New Pricing Scheme Proves Simpler Is Better | Inc.com

Tesla’s New Pricing Scheme Proves Simpler Is Better | Inc.com

Tesla has streamlined its pricing on the Model S and Model X. And there’s something to be said for that. The car company on Tuesday removed the Standard Range versions of its Model S and Model X, effectively eliminating the two cheapest versions of its popular cars. The move means the base model Model S […]

 

More Than 25% of Consumers Willing to Pay More Than $10 a Month for $6.99 Disney + | Multichannel

More Than 25% of Consumers Willing to Pay More Than $10 a Month for $6.99 Disney + | Multichannel

A new consumer survey reveals that more than a quarter of U.S. internet users are willing to pay significantly more than the $6.99 a month Disney will charge for its upcoming SVOD service, Disney +. According to the GlobalWebIndex survey of 2,504 U.S. internet consumers ages 16-64, most (2,155) described themselves as “Disney Fans.” And […]

 

Your Guide to Perfectly Pricing a Product | Business 2 Community

Your Guide to Perfectly Pricing a Product | Business 2 Community

Knowing how to price a product perfectly is essential. It’s vital to ensure you are not overcharging your way out of the market or undercharging your way into your profit margins. Yet, despite how important it is to get the pricing right, it’s surprising how many online store owners wing it. If you’re just copying […]

 

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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