OnDemand WTP Pricing Research

This Week in Pricing > 1/12/19

TWIP is a digest of pricing focused news, thought leadership, events, jobs, training and certification resources for pricing professionals.

This Edition is brought to you by:

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™).

Click a link below to learn more…

Life Cycle Pricing: Capturing Value Throughout the PLC | PriceBeam

Life Cycle Pricing: Capturing Value Throughout the PLC | PriceBeam

Far too many companies fail to develop a long-term life cycle pricing strategy that is continuously adjusted across the product life cycle (PLC). Typically, the savvy company will conduct extensive pricing research to find the a launch price that is aligned with their target group’s willingness-to-pay, but then fails to re-evaluate the pricing continuously. This is […]

 

Dynamic Pricing: The Secret Weapon Used By The World’s Most Successful Companies | Forbes

Dynamic Pricing: The Secret Weapon Used By The World’s Most Successful Companies | Forbes

Uber, Amazon and Airbnb all have one thing in common — aside from rapid growth, creating entirely new markets and crushing their competition. All three price dynamically using advanced artificial intelligence (AI) and machine learning. Leading companies know that in today’s digital marketplace, dynamic pricing is a key driver for growth and success. But what […]

 

Book: Monetizing Data – A Practical Roadmap for Framing, Pricing & Selling Your B2B Digital Offers | Stephan M. Liozu & Wolfgang Ulaga

Book: Monetizing Data – A Practical Roadmap for Framing, Pricing & Selling Your B2B Digital Offers | Stephan M. Liozu & Wolfgang Ulaga

Summary: The Digital revolution promises trillions of dollars in created value by 2030. Consultants and researchers are projecting massive and disruptive disruption in entire industrial sectors. As a results, PwC reports in their DigitalIQ report that 73% of executives say that they are investing in internet of things (IoT) and 54% in artificial intelligence. ABB […]

 

Beer Prices at Alabama-Clemson National Title Game Are Insane | 12up

Beer Prices at Alabama-Clemson National Title Game Are Insane | 12up

When you go to a major sporting event, some price-gouging is to be expected for concessions and apparel. But this is just crazy. If you planned on going to the ​Alabama-Clemson College Football Playoff National Championship game tonight at Levi’s Stadium in Santa Clara, you may want to pre-game in your hotel room beforehand. That is, unless don’t mind paying […]

 

Pricing News Advertising Programs | PricingHub

Pricing News Advertising Programs | PricingHub

Pricing News is a well-respected pricing industry resource dedicated to increasing the awareness of the power of effective pricing strategy and technology. We offer a network of online resources and industry specific publications that curate pricing thought leadership, pricing successes and failures in the news, professional development events, and other high-value pricing related resources. Our […]

 

 

Pricer’s Points: Create impact with pricing analytics | Loon Lee Spielmann

Pricer’s Points: Create impact with pricing analytics | Loon Lee Spielmann

How can pricing professionals provide value-added business reviews? Generate actionable analytics and insights Provide simulations and impact analysis Price review By combining the right sets of data and KPI, e.g. Price realization with sales data, you might just get a slightly different picture. Price realization provides indication of how well executed prices meet price targets. […]

 

Drugmaker Won’t Put Price in TV Ads, But Patients Can Look It Up | Bloomberg

Drugmaker Won’t Put Price in TV Ads, But Patients Can Look It Up | Bloomberg

Eli Lilly & Co. won’t put the price of its prescription drugs in television ads, as the Trump administration has called for pharmaceutical companies to do, but will instead offer patients a link to a website with information about prescription costs. Starting Tuesday morning, the Indianapolis-based maker of popular diabetes treatments will start airing television […]

 

Bye bye Bitcoin? | Dhaka Tribune

Bye bye Bitcoin? | Dhaka Tribune

The reasons cryptocurrencies could enter a more extreme death spiral Back in December 2017, when its price reached close to $20,000, Bitcoin looked like it had finally disrupted financial markets with the potential to enter the mainstream. A year later and things look quite different. Bitcoin is now steadily trading below $4,000 and has been […]

 

Value Pricing Changes the Rules of the Game | Simon Kucher & Partners

Value Pricing Changes the Rules of the Game | Simon Kucher & Partners

Value pricing is gaining recognition as the superior pricing strategy for both new and existing offers. Companies understand the importance of moving away from the cost-plus pricing approach and aim to set prices that customers are willing to pay based on how they perceive value. However, many struggle to overcome the obstacles that developing and […]

 

Pricer’s Points: The 6 things you need to know to price your product/service | Marcelo Ambrosio de Góes

Pricer’s Points: The 6 things you need to know to price your product/service | Marcelo Ambrosio de Góes

Pricing is one of the most relevant components related to the well-functioning of your business. You might remember McCarthy’s 4P’s from marketing: price, promotion, place and product. A good business does the four well, but pricing is easily the most flexible marketing component where you want to spend some time to boost sales and maximize […]

 

Surge pricing coming to your favorite restaurant | Houston Chronicle

Surge pricing coming to your favorite restaurant | Houston Chronicle

Surge pricing may come soon to a restaurant near you. Most of us know surge pricing from ride-hailing companies that charge more for a taxi ride when ridership spikes. The idea is simple economics when demand exceeds supply, prices go up. The higher prices, though, also shift the supply and demand curves. Higher prices encourage […]

 

Activist wants Dollar Tree to raise prices [Video] | WRDW

Activist wants Dollar Tree to raise prices [Video] | WRDW

CNN — Have you ever wondered how the Dollar Tree is still able to continue selling everything in its stores for just a single dollar after all these years? According to one activist investor, it’s because the store has lowered the value of the products it sells. When you think about it, they sort of […]

 

Disneyland Resort tickets and parking prices are going up again, as much as 25% | Los Angeles Times

Only months before the opening of its $1-billion Star Wars expansion, the Disneyland Resort announced price increases of up to 25% for daily tickets, annual passes and parking. The increases, which took effect Sunday, come less than a year after the resort adopted price hikes of up to 18%. Under the latest increases, the cheapest […]

 

Ticket Demand for Alabama-Clemson Title Game at All-Time Low | Bloomberg

Ticket Demand for Alabama-Clemson Title Game at All-Time Low | Bloomberg

Demand for tickets to college football’s national title game is at an all-time low, as travel costs and match-up fatigue weigh on fans of both Alabama and Clemson. Prices for tickets to Monday’s College Football Playoff title game at the San Francisco 49ers home in Santa Clara, California, have dropped more than 50 percent since […]

 

JP Morgan preview – price hikes come back with a bang in 2019 | Evaluate

JP Morgan preview – price hikes come back with a bang in 2019 | Evaluate

If 2018 was the year of biopharma pricing temperance it looks like the industry is back to business as usual for 2019. Several biopharma companies rang in the New Year with price hikes, and investors will watch out for more at next week’s JP Morgan healthcare conference. The conference, often described as the barometer for the year ahead, […]

 

 

How Are Hospitals Posting Their Prices, and Is It Helpful? | D CEO Healthcare

How Are Hospitals Posting Their Prices, and Is It Helpful? | D CEO Healthcare

The Public Health Act was enacted as part of the Affordable Care Act, which requires hospitals to make a public list of the hospital’s standard charges starting this year, but the posted price doesn’t tell the full story. Insurance, a person’s health, and the negotiated rate between insurers and providers complicates the out-of-pocket payment, the posted […]

 

Hospitals vary in publishing CMS chargemaster prices | Modern Healthcare Transformation Hub – Modern Healthcare

Hospitals vary in publishing CMS chargemaster prices | Modern Healthcare Transformation Hub – Modern Healthcare

Price transparency stumbled out of the gate last week as hospitals complied with a new CMS requirement to publish their lengthy list of retail charges for individual services and diagnosis-related groups in online spreadsheets by the first of the year. Some hospitals, such Northwestern Memorial in Chicago, posted a link to their charges right on […]

 

Webinar: Pricing in New Product Development – From Afterthought to Integral Part of the Process | PriceBeam

This webinar looks at how pricing can and should play a more integral role in New Product Development (NPD) instead of being an afterthought once the product is already designed and produced.

Participants and viewers will learn about:

  • How to use pricing and willingness-to-pay research to create new products or services that have higher success rates once launched
  • How to integrate willingness-to-pay research in the product design process
  • How to better understand what prospective customers actually value, and what they don’t value
  • How to test different concepts for market viability and ability to achieve solid prices in the market place.

The webinar will be available from January 17th, 2019, at 2p.m. BST, 3p.m. CET, 9am ET.

 

Chicagoland Pricing Professionals Network Event – January 23 2019

DATE: January 23, 2019

TIME: 5:30 PM – 8:30 PM CST

LOCATION: DePaul Center, 1 East Jackson Blvd, Room 11013 (11th floor), Chicago, IL 60604

OVERVIEW 

Join the Chicagoland Pricing Professionals Network for conversation and refreshments! This is a great opportunity to help you learn from pricing experts and your peers about the latest in pricing and how things are done in other organizations. Here’s what you can expect:

  • 30 minute talk on the latest teaching topics in the world of pricing
  • 30 minute talk from Dave Barkules, Director of Pricing and Sales Strategy at Cars.com
  • 60 minutes of networking and refreshments with Chicagoland Pricing Professionals

You will meet pricing professionals, pricing recruiters, pricing consultants, and pricing software providers, as well as peers in sales, marketing, finance, and more.

 

Webinar (On-Demand): Value-Based Pricing foundation done right – Conjoint Analysis | PriceBeam

Value-Based Pricing is considered a superior strategy for most industries and businesses. But it also requires a solid foundation of data and market insights. In this webinar we will take an in-depth look at the powerful insights that can be created through price research, in particular using conjoint analysis

Participants and viewers will learn about:

  • How Value-Based Pricing can be supported with price research
  • Different price research methods
  • How Conjoint Analysis can provide powerful insights and support for a Value-Based Pricing strategy
  • Tips and tricks for running a conjoint analysis price research project.

 

Webinar (On-Demand): Machine Learning & Data – The Latest Pricing Opportunity | PPS and Vistaar

In today’s ever-evolving world, data and software driven strategies are imperative to creating sustained commercial success.

Computers are more adept than humans at sorting through data with complex variables such as frequently fluctuating costs, rapidly evolving pricing models, and shifting customer priorities. Modern pricing software solutions, powered by advanced algorithms and machine learning techniques, enable businesses to constantly analyze data on an unparalleled scale and drive decision making based on data.

In this PPS webinar, Vistaar’s Director of Product Management, Dushyant Zutshi, discusses how advanced algorithms and machine learning techniques drive intelligent pricing and sales strategies for success in the data-driven world.

 

Webinar (On-Demand): Best Practices in Car Rental Pricing | Perfect Price

Founder and CEO of Rate Highway, Michael Meyer, discuss best practices for managing rates with Alex Shartsis, co-founder and CEO of Perfect Price.

Topics include:

  • 3 key actions the most successful companies do with prices every day.
  • How to calculate lost profits from inadequate pricing strategies.
  • The science behind rates and how your team can get started–even in Excel.
  • Utilization and where you should manage it–and where you should let it manage itself.
  • The limits of reservation platform built-in revenue management tools and how to overcome them.
  • How to leverage your own data to find lost profit–even if you’re not in a competitive market.

 

30th Annual Spring Workshops & Conference May 7-10, 2019 | PPS

We are excited to announce we’ll be in Atlanta, GA for our 30th Annual Spring Pricing Workshops & Conference May 7-10, 2019! You can register now and take advantage of our Early Bird Offer (Buy 2 Get 1 Free, expires March 29th).

 

Explore our collection of valuable pricing resources including:

 

Pricing News on LinkedIn

Join 1,000’s of your peers in the our LinkedIn discussion group. The group features informative pricing strategy and technology focused news, events, resources, thought leadership, and discussions about the latest pricing strategy, tactics, and tech successes and failures in the news.

 

 

“The single most important decision in evaluating a business is pricing power,” Buffett told the Financial Crisis Inquiry Commission in an interview released by the panel last week. “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