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Pricing News Daily > 8/21/19

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?

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‘Free roads are not really free’: Can cities make Congestion Pricing equitable? | Smart Cities Dive

As cities look to congestion pricing to help unclog gridlocked streets, questions of who should be charged and how much they should pay are swirling.

New York City will be the first U.S. city to charge drivers a congestion toll — applicable in Manhattan’s business district below 60th Street — in late 2020 or early 2021 after years of debate. Meanwhile, the likes of Seattle and Los Angeles are in varying stages of studying their own plans. And in each city, there are a number of thoughts on how to administer the program and divvy up the funds raised.

Some have suggested that certain groups be exempt from a toll altogether, while others have advocated for a system of rebates and credits for low-income drivers. Questions of where the revenue from congestion pricing should be spent also come into discussions of equity, especially when considering investments in public transit, infrastructure or air quality improvements.

Read complete article here:

‘Free roads are not really free’: Can cities make congestion pricing equitable? | Smart Cities Dive.

 

How to increase prices without the fear of losing clients | Mark Wickersham

Most accountants and bookkeepers are too cheap.

But, when I tell people this, I find that most people are so afraid of losing clients, that they haven’t put their prices up in years.

That’s crazy!

If you have ever felt like you are working excessively hard and you aren’t making enough money to show for it – this is probably the reason.

I did a video on this topic. You can watch it here.

You need to increase your prices. You deserve to increase your prices. So, I’m going to share with you this simple process for increasing your prices without losing clients.

Menu Pricing

It’s called Menu Pricing.

Let’s imagine that you decide you want to increase the average price across your business by 20%.

You need to give your client three choices.

Read complete article here:

How to increase prices without the fear of losing clients.

 

XRP Pricing Goes Live On New Nasdaq Website as U.S. Secretary Of State Supports Crypto | BitRss

After a long waited period, the world’s third largest cryptocurrency by market cap, XRP, is now featured in a new development bordering around US giant stock exchange market.

According information reaching Today’s Gazette, the pricing of Ripple token, XRP, has been made live on the new Nasdaq website, new.nasdaq.com.
Per the information made available on the website, the data indexing of XRP went live on August 16th 2019.

This is coming few months after the American stock exchange market announced its decision to list XRP price index on its platform. Through its alliance with Brave New Coin, a New Zealand-based blockchain data and research firm, Nasdaq in April declared that it would be offering Ripple (XRP) index level information on its global data service starting from May 1st.

Read complete article here:

XRP Pricing Goes Live On New Nasdaq Website as U.S. Secretary Of State Supports Crypto.

 

Why Marriott’s New Dynamic Pricing May Not Leave Bonvoy Members Joyous | Skift

Hotel megabrand Marriott is introducing peak and off-peak pricing to its award charts this September, which will dramatically affect the way in which its Bonvoy members spend points. Announced last week, the new pricing slides award night prices up and down as a function of current hotel demand — so that August reservation in Maui may cost 15 percent more and the December booking in Grand Forks 15 percent less.

Marriott follows countless industry peers in moving to more of a dynamically based pricing system for its awards. Delta broke ground in this field two years back by allowing its award-seat prices to float with demand and seasonality.

Read complete article here:

Why Marriott’s New Dynamic Pricing May Not Leave Bonvoy Members Joyous – Skift.

 

CRTC Wholesale Broadband Pricing Decision Threatens Canada’s Broadband Future | Crwe World

CALGARY, Alberta, Aug. 21, 2019 (GLOBE NEWSWIRE) — Shaw Communications Inc. today said there will be long-term negative consequences to Canadians from the CRTC’s decision to dramatically reduce federally regulated wholesale broadband prices charged to third party internet providers.

“We cannot understand the CRTC’s rationale for drastically reducing the wholesale broadband rates available to third party internet resellers,” said Brad Shaw, CEO of Shaw Communications. “In time, this decision will be seen as short-sighted, and have negative far-reaching consequences for consumers and for the future investment required to build network capacity in all parts of Canada.”

As a result of the reduced wholesale rates, which the CRTC requires to be applied retroactively to January 2017, Shaw will incur a one-time charge of approximately $10 million in its fourth quarter results for fiscal 2019.

Read complete article here:

Crwe World | CRTC Wholesale Broadband Pricing Decision Threatens Canada’s Broadband Future.

 

Apple TV+ Cost: Tech Giant Reportedly Eyes $9.99 Price Point | Observer

Timing is everything. On Monday, we explored how we would handle the missing details surrounding Apple’s forthcoming streaming service, Apple TV+, including the still unknown cost and launch date of the platform. Today, we may have been given an answer on the former.

Apple is reportedly “weighing” a $9.99 per month cost following a free trial, Bloomberg reports. Given the disparity in library size between Apple, which will house exclusive originals and little to no licensed back catalogs of content, and its well stocked streaming competition, this seems high on a relative value proposition. For reference, Disney plans to launch Disney+ at $6.99 per month; the ad-supported version of Hulu costs $5.99 per month, while the ad-free version runs at $11.99 per month; Amazon Prime costs $12.99 per month; and Netflix’s standard plan (it’s most popular tier) is $12.99 per month. At Apple’s current price point, its hit rate of success for quality content is going to have to be very high.

Read complete article here:

Apple TV+ Cost: Tech Giant Reportedly Eyes $9.99 Price Point | Observer.

 

BIO CEO Warns About Government Pricing Measures at CLSA Event | BioSpace

When it comes to potential pricing controls of the pharmaceutical industry, Jim Greenwood, chief executive officer of BIO, grimly stated that “nothing good” was going on in the halls of power in Washington, D.C.

Addressing a crowd of stakeholders at the California Life Sciences Association’s “An Evening with Thought Leaders,” Greenwood noted that with national elections on the horizon, pricing rhetoric will intensify from candidates in both political parties. Several bills have been bandied about in Congress, but few pieces of legislation have moved forward due to the political divisions between the two chambers. Greenwood also pointed to some setbacks the White House has experienced regarding some of the plans it has put forth to bring down prices of drugs supported by the federally funded Medicare and Veterans programs.

Since before he was sworn in as president, Donald Trump has decried the list prices of prescription drugs. In 2017, he infamously said the pharmaceutical industry was “getting away with murder” when it comes to the list prices for drugs. Trump has used his Twitter feed to browbeat companies over price increases, such as Pfizer, and also flexed the power of the executive order. Trump has used or threatened to use executive orders multiple times to reign in pricing.

Read complete article here:

BIO CEO Warns About Government Pricing Measures at CLSA Event | BioSpace.

 

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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