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Pricing News Daily > 7/28/14

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.

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Whether you’re in sales, marketing, product management or a pricing professional, it’s important to stay up-to-date on the latest practices and research in B2B pricing—and get fresh perspectives and ideas that can help make your business (and career) more profitable.

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Today’s Headlines

This Week in Pricing > 7/26/14

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: Asia Pricing Professionals Asia Pricing Professionals (APP) is a […]

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 […]

Isn’t it Time to Start Standing Up for High Prices? | Capterra

If prospects and customers choke over premium prices, they may be taking their cue from their salesperson. According to recent research by The Brooks Group, one in three sales reps think their prices are too high. Really, people? If you don’t believe in your price, who will? If you’re among the nonbelievers, you have three choices: You […]

A Super-Simple Way to Make Your Prices Seem Lower… With One Catch | Neuromarketing

Want to make your prices seem lower without actually changing them? I’ve got a research-based technique that will do exactly that, with one small catch: your prices will only look lower to your male customers. In a study titled Are Men Seduced by Red? The Effect of Red Versus Black Prices on Price Perceptions, researchers in the U.K. […]

How Starbucks can raise prices for your coffee and get away with it | Quartz

How this price increase has impacted its sales (if at all) remains to be seen—the company reports earnings on Thursday, and the price hike took effect when the quarter was basically finished. (Though management may shed light on it and the broader issue of higher input costs during its accompanying conference call.) For her part, Piper Jaffray’s Regan […]

Paper: Pricing on Purpose – How to Implement Value Pricing in Your Firm, Parts I-III | IFAC

Part I explains the rationale and underlying theories that support the switch from hourly to value pricing. Part II dicusses early challenges and practical steps to take when beginning to transition your accounting practice to a pricing model based on value. Part III outlines the 8 steps an accounting practice or firm should take to […]

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 […]

Consumer Price Index goes up on back of gas prices | Fortune

Increase was driven largely by a spike in the cost of gasoline. Consumer prices ticked up slightly in June, driven largely by a spike in the cost of gasoline. The Consumer Price Index rose 0.3% on a seasonally adjusted basis, according to a news release from the Bureau of Labor Statistics. Over the past 12 […]

Chipotle Traffic Jumps Even After Price Increase | Fox Business

Chipotle Mexican Grill Inc (CMG), one of the top-performing U.S. restaurant operators, on Monday reported a nearly 26 percent jump in quarterly profit after traffic to the burrito chain surged despite a menu price increase. Based on last quarter’s gains, Chipotle raised its forecast for same-restaurant sales growth, calling for an increase in the mid-teen […]

When Staples Offered Items for a Penny, State Workers Ordered Kleenex by the Pound | WSJ

Big box retailer Staples scored a major contract to sell office supplies to the State of New York. But a penny-pricing arrangement on some items, and some savvy procurement agents, meant NYS made out like a bandit — and left Staples wondering what went wrong. Staples Inc. SPLS +0.18% made the State of New York quite a promise: Buy […]

Who Wins With Dynamic Discounts? | PYMNTS.com

The digitization of payments between businesses opens up a whole world of possibilities with respect to invoicing and payment terms. Dynamic pricing –  where a buyer and supplier establish terms to accelerate payment in return for a reduced price or discount on the acquired goods or services – is one of those options. Knowing how […]

Organic food pricing – High versus low to stimulate purchases | Food Navigator

Low cost organic products are more likely to be repurchased but a high price strategy could prove more effective in encouraging cross-purchasing across ranges, finds research. … High pricing for cross-purchases Medium price plans were most common for the organic food category, the researchers said, and tended to broadly succeed. “If consumers find a price […]

US dairies dealing with ‘new and different’ SMP pricing dynamic | Dairy Reporter

US skim milk powder (SMP) prices are now determined by global movements, not domestic events – a change our commodities expert John Geuss describes as “a new and different dynamic.”  The US dairy industry has always been a domestic industry. Milk was produced in the US, processed in the US, and consumed in the US. The […]

Book: Collection of the Best Pricing Books and E-books

As a service to pricing professionals, we have compiled a collection of the best pricing focused hard-copy books and e-books available. The entries for each book are tagged by subject matter, include the author(s), publisher, date of publication, a picture of the front cover, and a brief summary. For your convenience, we have also included a […]

Northwestern Game – Purple Pricing Outcomes | Perfect At Football BlogSpot

In 2013 Northwestern introduced “Purple Pricing” for two home football games (and two home basketball games). In 2014, the Nebraska and Michigan football games have been selected for Purple Pricing. There are some really interesting things about this economic model, and I want to touch on what it means for Husker fans planning on coming […]

Is the Value of Your Services in Sync With Your Rates? | Noobpreneur

Setting appropriate prices is one of the trickiest aspects of doing business for any size outfit, but the risks you assume by pricing incorrectly are even more significant when you’re an entrepreneur. Set prices too low and you could erode your business’s financial viability. Price too high, and you could fold because of low demand […]

Sales Effectiveness – Your Negotiated B2B Pricing is Not Elastic! | PROS

It’s a concept that’s easily understood – lower prices should cause new customers to buy and existing customers to buy more, while higher prices should cause fewer new customers to buy and existing customers to buy less. Economists even have a fancy name for this customer/price interplay – price elasticity. Price elasticity is the demand […]

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