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Pricing News Daily > 8/6/19

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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Legally Yours ahead of its time with fixed fee and value-based pricing | Centre for Legal Innovation

Legally Yours ahead of its time with fixed fee and value-based pricing | Centre for Legal Innovation

Legally Yours ahead of its time with fixed fee and value-based pricing Karen Finch saw the writing on the wall years ago. That’s why in 2015, she joined, and then became a co-founder of Legally Yours, a venture that is decidedly not a law firm, but an automated online legal marketplace that connects clients to […]

 

Corey Taylor Says Streaming Services Are Pricing Artists Out Of Careers | Kerrang!

Corey Taylor Says Streaming Services Are Pricing Artists Out Of Careers | Kerrang!

Corey Taylor has spoken out about the negative effects of streaming on bands, and how it’s “pricing artists – old and new – out of careers”. Initially provoking Corey’s comments, member of Bruce Springsteen And The E Street Band Nils Lofgren posted a photo on Twitter over the weekend of one of his royalty cheques for […]

 

Tyson Foods hits record high after beating estimates, prepares for China profit boost | Reuters

Tyson Foods hits record high after beating estimates, prepares for China profit boost | Reuters

The Justice Department said in June it launched a criminal probe related to price-fixing allegations against Tyson and other poultry processors, which the companies have denied. Slideshow (3 Images) Tyson subsequently received a grand jury subpoena from the Justice Department “seeking additional documents and information related to the chicken industry,” the company said in a […]

 

Tyson posts mixed 3Q gains; price-fixing inquiry disclosed | Arkansas Online

Tyson posts mixed 3Q gains; price-fixing inquiry disclosed | Arkansas Online

Tyson Foods Inc. posted third quarter earnings Monday that rose from last year’s results, but not as high as executives wanted. Tyson’s beef and prepared foods businesses bolstered earnings, while chicken and pork lagged behind for the quarter. The nation’s largest meatpacker reported a net income of $676 million, or $1.84 per share, in the […]

 

Used diesel cars not in ‘major pricing difficulty’, says Cazana | Market Insight

Used diesel cars not in ‘major pricing difficulty’, says Cazana | Market Insight

July 2019 brought with it much discussion around the decline in used car performance despite a level of decline which will remain a moot point. There has also been a plethora of comments on the performance of dealer groups nationwide and the City and markets have watched carefully as the half-year financial results of the […]

 

Ibiza, the restaurant that changed wine pricing in Houston, is closing | HoustonChronicle

Ibiza, the restaurant that changed wine pricing in Houston, is closing | HoustonChronicle

Back in 2001, thirtysomethings Charles Clark and Grant Cooper were out-of-the-box-thinking game-changers when they opened their Ibiza Food & Wine Bar. They remain so today, having announced this morning — still some 6½ months before the fact — that they will close the long-popular restaurant south of downtown on Louisiana Street. The final day of […]

 

Tourism: An end to dual pricing? Tourism minister talks of stimulus measures | Thailand Visa Forum

Tourism: An end to dual pricing? Tourism minister talks of stimulus measures | Thailand Visa Forum

Thailand could be seeing the beginning of the end to a subject that angers many visitors and residents in the kingdom. Dual pricing for foreigners and tourists. Thailand’s new Minister for Tourism and Sports Pipat Ratchakitprakarn was speaking to Thai reporters about what needs to be done to stimulate the tourism sector. He said that […]

 

What is a Diaper Worth? An Example of Value and Pricing | Drew Boyd

What is a Diaper Worth? An Example of Value and Pricing | Drew Boyd

When it comes to pricing a product, one principle rises above the rest.  A price is inextricably linked to the value a customer places on that product. If a customer thinks a product is worth the price you’ve set, they will purchase it. And the more they value the product, the higher the price you […]

 

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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