OnDemand WTP Pricing Research

This Week in Pricing > 1/19/19

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:

PriceBeam

The struggle is real for B2B and B2C Pricing, Marketing, and Finance team leaders to capture fresh, reliable, and actionable Pricing Intelligence 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?

Click to learn more

Artificial intelligence is “steroids for business” | Perfect Price

Artificial intelligence is “steroids for business” | Perfect Price

After interviewing key industry CEOs, Jim Kramer of Mad Money thinks that AI is “like steroids for businesses”. Here’s 2 simple reasons why he’s right. Companies using AI for pricing dramatically outperform rivals In experiments we have done, companies using AI to manage their pricing increase revenue by 10-20% and profit by as much as […]

 

Happy Tax Files False Advertising Lanham Act Lawsuit Against H&R Block | AP News

Happy Tax Files False Advertising Lanham Act Lawsuit Against H&R Block | AP News

Since 2015, Happy Tax has utilized and advertised upfront and transparent pricing for its assisted CPA prepared tax preparation services. Happy Tax was the first notable national company to introduce this innovative pricing strategy to an industry that historically provided prices to clients after their tax returns were completed. The alleged false and misleading commercial […]

 

Could Anti-Price Gouging Laws Slow Rising Rents? | KPBS

Could Anti-Price Gouging Laws Slow Rising Rents? | KPBS

Garcetti wants the state Legislature to approve an anti-price gouging rent cap. Support of such a cap may be building. Democratic state Senator Scott Wiener of San Francisco said legislators are mulling over whether to pitch a bill as one way to deal with the state’s 3.5 million housing unit shortage over the next decade. […]

 

Uber will start charging London customers an extra 15p/mile this WEEK – here’s why | Mirror Online

Uber will start charging London customers an extra 15p/mile this WEEK – here’s why | Mirror Online

It’s the go-to taxi service for many people around the world, but Uber prices are set to increase in London this week. Uber has announced that it is adding 15p/mile onto every trip taken through the app in London. This new fee is part of the Mayor’s Clean Air Plan, and will be added from […]

 

Netflix Announces Another Price Hike – Now Taking A Beating On Social Media | Jim Heath TV

Netflix Announces Another Price Hike – Now Taking A Beating On Social Media | Jim Heath TV

Netflix is raising monthly fees for its subscribers again by between 13 percent and 18 percent, as it spends heavily on original content and international expansion. Its most popular plan will see the largest hike, to $13 per month from $11. That option offers high-definition streaming on up to two different internet-connected devices simultaneously. This […]

 

A whopping 58% of MoviePass users canceled their subscriptions last year, according to a new study (HMNY) | Times Union

A whopping 58% of MoviePass users canceled their subscriptions last year, according to a new study (HMNY) | Times Union

2018 was not a good year for MoviePass. After gaining millions of new users to the service starting in August 2017, when the company dropped its monthly price to $9.95 a month to see one movie per day, the movie-ticket subscription startup went into a tailspin in 2018. 2018 saw issues with the app, bad […]

 

This 7000-mile twin-turbo Toyota Supra just sold for $121,000 | Hagerty

This 7000-mile twin-turbo Toyota Supra just sold for $121,000 | Hagerty

A pristine 1994 Toyota Supra just sold for $121,000 on Bring a Trailer, making it the most expensive factory Supra ever sold at auction. Yes, the Supra is now officially a six-figure car. After reaching $90,000, bidding calmed for more than a day until the closing minutes when a bidding frenzy kicked the final price […]

 

iPhone pricing can’t continue to rise, says HSBC | 9to5Mac

iPhone pricing can’t continue to rise, says HSBC | 9to5Mac

Analysts last week slashed their AAPL target prices following Apple’s announcement that it would dramatically miss its own guidance for the holiday quarter, in what one of them called ‘Apple’s darkest day in the iPhone era.’ iPhone pricing has come under the microscope as many suggest this is a key factor in lengthening upgrade cycles. HSBC had […]

 

Revealed: How car rental companies are charging customers for pre-existing damage – and not actually repairing vehicles | Independent

Revealed: How car rental companies are charging customers for pre-existing damage – and not actually repairing vehicles | Independent

Volkswagen Group Ireland, which leases vehicles to a number of major car rental companies, said: “The agreements that we have with car rental companies tend to vary depending on the rental company and brand, but generally, we charge the car rental company a set price per car as a default to cover acceptable damage, but […]

 

J&J hikes US prices for a basket of drugs, including certain top-sellers | Reuters

J&J hikes US prices for a basket of drugs, including certain top-sellers | Reuters

As De­mo­c­ra­tic mem­bers of Con­gress pro­posed leg­is­la­tion to curb soar­ing drug prices on Thurs­day, the world’s biggest drug­maker by rev­enue John­son & John­son $JNJ raised prices for about two dozen of its pre­scrip­tion med­i­cines, adding to the hun­dreds of price hikes al­ready ini­ti­ated by var­i­ous drug­mak­ers in 2019. Most of the in­creases on J&J’s drugs — […]

 

Dynamic Pricing Improves NHL Teams’ Bottom Lines | The Hockey Writers

Dynamic Pricing Improves NHL Teams’ Bottom Lines | The Hockey Writers

Given the NHL’s dependence on ticket sales, individual teams have looked for new sources of ticket revenue to improve their bottom lines. Their answer in recent years has been a concept called dynamic pricing or what some businesses call price optimization. Sources suggest that American Airlines was the first major company to adopt the practice […]

 

White Paper: Customer Intelligence Analytics – 10 Mistakes Firm Make | PriceBeam

White Paper: Customer Intelligence Analytics – 10 Mistakes Firm Make | PriceBeam

Ultimately, your goal with your customer intelligence analytics is to get results that are actionable. To obtain this, you need to get results that are: Statistically significant Based on all types of customers Clear of bias Click the button below to download our white paper featuring 10 mistakes companies make with Customer Intelligence Analytics. More Resources: Tip […]

 

Cathay Pacific again accidentally sells first-class tickets for a fraction of the price | ABC News (Australian Broadcasting Corporation)

Cathay Pacific again accidentally sells first-class tickets for a fraction of the price | ABC News (Australian Broadcasting Corporation)

Less than two weeks after a Cathay Pacific ticketing error led to premium seats being sold for economy fares, Cathay Pacific has accidentally sold tickets from Europe to Hong Kong for less than a tenth of their usual prices. The South China Morning Post (SCMP) reported that first-class tickets from Portugal to Hong Kong were […]

 

House Dems announce sweeping investigation of drug pricing | WCJB ABC 20

House Dems announce sweeping investigation of drug pricing | WCJB ABC 20

WASHINGTON (AP) — House Democrats announced a sweeping investigation Monday of the pharmaceutical industry’s pricing practices, jockeying for the upper hand with the Trump administration on an issue that concerns Americans across the political spectrum. Oversight and Reform Committee Chairman Elijah Cummings said he’s sent letters to 12 major drugmakers seeking detailed information and documents […]

 

Hospitals disclose standard prices, but actual costs are hazy | VTDigger

Hospitals disclose standard prices, but actual costs are hazy | VTDigger

CMS announced the pricing-rule change in August, and it took effect Jan. 1. On Thursday, Verma had a conference call with reporters to explain her agency’s rationale. As health care costs “continue to skyrocket,” Verma said, “price and quality transparency in health care is one of the top priorities for CMS and the Trump administration.” […]

 

Drug Pricing War Leads CVS And Walmart To Part Ways | The Daily Caller

Drug Pricing War Leads CVS And Walmart To Part Ways | The Daily Caller

Walmart and CVS Health’s pharmacy benefit management (PBM) division announced they’re parting ways Tuesday, and it’s a split that could disproportionately impact rural patients, health care entrepreneur Dave Chase told The Daily Caller News Foundation. The split was brought on by a pricing dispute and means that many people who have CVS Health drug plans […]

 

You can now look up charges at your local hospital. Good luck understanding them | Vox

You can now look up charges at your local hospital. Good luck understanding them | Vox

The Trump administration rang in 2019 by enacting a seemingly great health care policy: requiring all hospitals to list the price of their most common procedures on their websites. The whole idea was to make the American health care system more transparent, allowing patients to research the cost of care at thousands of hospitals across […]

 

 

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): Machine Learning & Pricing with PPS | Perfect Price

Watch CEO of Perfect Price, Alexander Shartsis, discuss machine learning and pricing with the Professional Pricing Society (PPS).

PPS is the world’s largest association of pricing professionals, and usually asks tough questions!

 

 

This PriceBeam Webinar covers how willingness to pay research can be used to successfully manage and implement price increases.

Successful price increases can deliver tremendous profits but many fail to be properly implemented whereas others anger customers unnecessarily.

In this webinar we show how insights from market research into customers’ willingness to pay can increase the likelihood of customers accepting the price increase. We also show tips for how to make the increase as big as possible as well as how to make it stick.

 

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