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Pricing News Daily > 7/29/14

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-AsiaPricingProfessionals

This Edition is Sponsored by:

Asia Pricing Professionals

Asia Pricing Professionals (APP) is a not-for-profit community of pricing management practitioners. Our key objective is to raise the profile of pricing management in Asia through:

  • Organizing formal and informal meetings where we discuss the latest trends and challenges in Pricing
  • Sharing industry specific knowledge related to pricing management with interested parties
  • Building a network of industry pricing experts who are easily accessible

Click a link below to learn more…

Today’s Headlines

Exploring The Economics Of Paying What You Want | NPR

NPR’s Eric Westervelt speaks to OZY reporter Pooja Bhatia on the economics of choosing to pay any price you want. Access the audio recording here: Exploring The Economics Of Paying What You Want.

An $800 Sneaker Plays Hard to Get | WSJ

The sudden appeal of Buscemi—a year-old, $800-a-pair sneaker brand that has been snapped up by Justin Bieber, Sean “Diddy” Combs and other celebrities—marks a new chapter in conspicuous consumption. In the digital age, where nearly everything is a click away, there is growing pressure to flaunt possessions that no one else can buy. “You ain’t got […]

How to Find the Perfect Price Using Consumer Psychology | Inc.com

During a recent talk, Yammer’s director of analytics gave tips on determining prices according to not-so-predictable human behavior. … However, the offering wasn’t a failure at all. In the end–because customers consequently perceived the online and print deal to be such a good value–two thirds of The Economist‘s subscribers switched to the print and online package. There […]

10 Reasons Customers Will Pay More | Inc.com

4. Your product burnishes the buyer’s reputation. Consumers buy fancy-branded luxury goods because it makes them look and feel wealthy.  The same dynamic operates in the business world, which explains why companies are still buying high-priced, IT-intensive ERP systems. 5. Your product has a lower cost of ownership. It’s not all about price… it’s about […]

Pricer’s Points: Why the Message of Pricing Hasn’t Spread Wider | David Mok

Pricing as a profession has come a long way – from a role that has evolved out of someone’s part-time job (marketing, finance, contracting, etc.), and that wasn’t long ago, to a full-time profession accompanied by a title having the word PRICING in it. I happen to be one of those fellows who has been a part of […]

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 […]

Where Do Cocktail Prices Come From? | Serious Eats

Unlike the people who drink them, not all cocktails are created equal. Or at least that’s what their prices seem to indicate. The mixed drinks at one bar in one city might be double what they cost at a cocktail-conscious watering hole in another part of the country. … Complicating things further, there are plenty […]

Why have beer prices increased? | CNBC

If ordering a Summer Shandy seems to be tapping your wallet a little harder this year, it’s no surprise. Craft beer sales have surged—the industry, which has enjoyed double-digit production growth over the past few years, has hit $14 billion in sales—and with the sudden growth of these sometimes quirky yet very popular brews comes […]

8 Psychologically Proven Pricing Strategies that Guarantee Conversions | Advanced Web Ranking

Pricing is a marketing headache, and for good reason. It takes some pretty intense understanding of Economic Theory to price your products just right and can mean a lot when it comes to who buys your product. And if finding a perfect price isn’t enough, you have to consider packaging and presentation. We all know […]

CONDITIONAL PRICING PRACTICES AND THE LIMITS OF ANTITRUST | Truth on the Market

The Federal Trade Commission’s (FTC) June 23 Workshop on Conditional Pricing Practices featured a broad airing of views on loyalty discounts and bundled pricing, popular vertical business practices that recently have caused much ink to be spilled by the antitrust commentariat.  In addition to predictable academic analyses featuring alternative theoretical anticompetitive effects stories, the Workshop commendably included presentations by […]

Xiaomi Unveils $13 Fitness Band | The Next Web

Popular Chinese smartphone manufacturer Xiaomi has joined the wearables fray as it unveiled today its very first wearable device, a fitness band for only CNY79 ($13). The Mi Band features sensors for tracking various health metrics and can even act as an alarm clock. There’s no doubt that Xiaomi is competing mainly on price as it […]

Mars follows Hershey in raising candy prices | WCVB

Mars, the maker of M&M’s and Snickers, announced Wednesday it will raise its prices by an average of 7 percent The company said the first price increase in three years was ”to offset rising costs.” Mars did not provide an effective date for the price hike. The move comes a week after Hershey said it was […]

Pricing Quotes

One should always take a little time out to enjoy the lighter side of their profession. Enjoy the following sample from our collection of our favorite pricing related quotes.

“Price is what you pay. Value is what you get.”

Warren Buffett

“Perhaps the reason price is all your customers care about is because you haven’t given them anything else to care about”

Seth Godin

Why It’s Fair to Save a Parking Spot – For a Price | Harvard Business Review

But is this fair? Is it ok, for a fee of $2.25, to “save” a parking space that you’ve paid for? What about saving a space for a family member or friend at no charge? These answers to these questions are really subjective. I will point out, however, that it’s axiomatic for a secondary resale […]

A Complete Guide to Changing Your SaaS Pricing | Price Intelligently

If you haven’t changed your prices in the past 12 months I guarantee you’re losing money. The companies we’ve seen with the most success with revenue and adoption are reviewing pricing at least once per quarter and making tweaks or changes every 6 to 9 months. While that may seem like a lot, you need […]

Is Your Pricing Strategy Undermining Your Brand Value? | PROS

While similar luxury manufacturers also offered cars at different price points, there was no $20,000 Mercedes on the market — and with good reason. People don’t associate the Mercedes name and brand with affordable cars. As the 318ti sales dwindled, BMW learned a lesson about the relationship between price and brand, and the importance of […]

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 […]

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