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Pricing News Daily > 7/25/14

Pricing 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.

EditionSponsor-ValueInnoruptionAdvisors

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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™).

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Today’s Headlines

Want Better Customers? Stop Discounting AND Raise Your Prices! | The Sales Hunter

The question I asked was:  “What % of your customers buy due to a reduced price or some other type of a discount?”  His response? “Nearly everybody.” I then asked him why that was, and his response was that the prices his company offered were really too high compared to what they should be charging. […]

Will Your Customer Leave if You Raise Their Prices? 10 Questions to Ask Yourself. | The Sales Hunter

Nothing sends fear through a salesperson more than when a customer says something along the lines of, “We are going to take our business elsewhere if you insist on raising our price.” There are many variations of this and we’ve all heard them. I can’t begin to tell you the number of times I’ve heard […]

Restaurant Menus Spend More Money | Business Insider

1. They don’t use dollar signs. A dollar sign is one of the top things restaurants should avoid including on a menu, because it immediately reminds the customers that they’re spending money. According to research from the Cornell University School of Hotel Administration, guests given a menu without dollar signs spent significantly more than those […]

Big Box Pricing Strategies Offer Lessons for Small Business | Business News Daily

When it comes to pricing strategies, small businesses can learn a lot from their larger peers. When deciding where to shop, consumers will choose retailers they believe offer the lowest prices the majority of the time, not businesses that offer deep discounts every so often to try and lure customers, according to a new study […]

Discussion: Uber agrees to new national policy that will limit surge pricing during emergencies

The Verge Article The taxi app falls in line with numerous laws that consider dynamic pricing during storms to be illegal price gouging Uber is well known for using a dynamic model it calls surge pricing that adjusts the cost of a fare based on supply and demand. The company’s CEO, Travis Kalanick, has defended this practice, […]

Pricer’s Points | July 16, 2014

The “Pricer’s Points“ 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. This Edition is Sponsored by: Value Innoruption Advisors Founded by Dr. Stephan Liozu, Value Innoruption Advisors provides training and consulting resources […]

Life Without Cars | NYTimes

There is, however, an obvious problem: rush hour. Peak car use comes twice a day, and that would seem to dictate that we have nearly as many cars as we do now even if they’re supplied by the likes of Uber. But here’s where surge pricing comes in. If traveling during peak hours is more […]

Why Marketplace Businesses Don’t Have Subscriptions | Huffington Post

For example, imagine if Salesforce.com, the $40 billion company that bills sales teams on a subscription-as-a-service (SaaS) model, acted like a marketplace. I might log in at the end of the quarter and face surge pricing because other sales representatives are logging in at the same time. Or I might log in at 2 a.m. […]

Why People Aren’t Buying iPads Anymore | Huffington Post

Simply put, Apple refuses to budge on pricing, said Tero Kuittinen, managing director at Frank N. Magid Associates, a consulting firm. Compared to other tablets, iPads are really expensive, and that’s a sticking point. The least expensive full-sized iPad starts at $399, while the most expensive model — the iPad Air, with 128GB of storage […]

Mastering the fine art of pricing | Modern Tire Dealer

Pricing is more than a gross profit exercise, it’s a strategic exercise, a psychological exercise, a competitive exercise, and it can be a painful exercise. Pricing is everything, but pricing alone is nothing. We spend entirely too much time talking about pricing and complaining about pricing, and not enough time developing a real pricing strategy, […]

Purple Pricing back for Northwestern football games against Nebraska, Michigan | Crain’s Chicago Business

The goal is to get fans to buy tickets early, giving them the chance to select their desired seat with the assurance that people who wait to see if prices come down won’t get a better deal. In theory, the prices should reflect the real market value of tickets, or what people would otherwise be […]

Conference: 3rd Annual Pricing Conference | Asia Pricing Professionals

When: August 11-12, 2014 Where: Shangri-La Hotel Kuala Lumpur, Malaysia Asia Pricing Professionals (APP) was established in 2011 by a few pricing practitioners. Since then a huge number of companies in Asia has started focusing on pricing and today it is a well known profession, just as marketing and sales. APP has grown as well and developed […]

Blog: 7 Everyday Pricing Puzzles and Answers | Iterative Path

Charging for sharing food – A restaurant in Palo Alto charges $2 to split pasta and $3 to split an entree, because _____ (Hint: not costs) Pricing train ticket for Pigs and Sheep – In 1831, in Liverpool-Manchester railway, it cost an Irish farmer 7.5p to transport a pig but only half of it for a sheep, […]

Ageas launches dynamic pricing for van policies | Insurance Times

Underwriting director Adam Clarke said: “Dynamic pricing delivers on a number of levels.  It not only enables us to provide quotes that precisely match the individual profile of the customer, promising a fairer premium, it helps combat the rising issue of application fraud. “Since introducing dynamic pricing in private car we have seen a significant […]

High gas prices threaten thousands of jobs, billions of dollars | Australian Broadcasting Corporation

A new report warns the riches promised by exporting Australian gas may have a devastating impact on local industries, particularly manufacturing. A coalition of half-a-dozen industry groups commissioned the report by Deloitte Access Economics. The report says domestic gas prices are rapidly rising as the market links in with international prices. It warns that, if […]

Top Seven Pricing Insights for Back-to-School | Apparel Magazine

Early forecasts from the NRF suggest that shoppers will open their wallets a little more in 2014 for key back-to-school categories but also warn that consumers are likely to be more price-sensitive than ever. According to 360pi, a provider of competitive price intelligence, intense price competition during the back-to-school season is nothing new, however, today’s […]

This Week in Pricing > 7/19/14

TWIP is a recap of the week’s top pricing strategy in the news and resources for pricing professionals. We also publish a daily digest of top pricing news, strategy expert and technology leader’s thought leadership and industry news and events. This Edition is Sponsored by: Value Innoruption Advisors Founded by Dr. Stephan Liozu, Value Innoruption […]

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