This Week in Pricing > 10/20/18

pricingnews-WeeklyThis Week in Pricing is a collection of pricing focused news, thought leadership , events, jobs and professional education resources for pricers.

This Edition is brought to you by:value innoruption final 0612 rev

 

 

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…

 

Top Headlines

You Can Rent A Bugatti… For The Price Of Buying A New Car | CarBuzz

You Can Rent A Bugatti… For The Price Of Buying A New Car | CarBuzz

Want to buy a Bugatti? You’ll be looking at a seven-figure price tag. But if you can’t afford that and still want the experience of driving one of Molsheim’s finest, you can rent one. And all it’ll cost you is the small matter of about $20,000 to $25,000 per day. That’s how much, according to […]

 

The Need for a NexGen CPQ Solution | Pricing Matters

The Need for a NexGen CPQ Solution | Pricing Matters

Price optimization to unlock ROI potential The Configure-Price-Quote (CPQ) software market growth is exploding. According to Gartner, CPQ market revenue was approximately $878 million in 2016, with a 20% CAGR expected through 2020. However, CPQ is not new, and many organizations that have invested in CPQ solutions are failing to meet expected ROI. So, what’s […]

 

Avoiding the Need to Discount Starts With Prospecting [Video] | Mark Hunter

Avoiding the Need to Discount Starts With Prospecting [Video] | Mark Hunter

Are you having to discount deals to close them? Your need to discount is driven by one or two things. First is not prospecting the right people and second is the lack of creating value in the mind of the customer. If you don’t do both well there’s little chance in being able to close […]

 

The SeaChange in Pricing Research…. | Medium

The SeaChange in Pricing Research…. | Medium

Few decisions impact the bottom line of a product or service more than those involving price. Price too low and a company could be leaving significant sums on the table and risk forever scarring their brand reputation according to the popular axiom that “Price Connotes Quality”. Price too high and be prepared to revise your […]

 

Discount car rental penalised for advertising unattainable prices | CNW

Discount car rental penalised for advertising unattainable prices | CNW

OTTAWA, Oct. 11, 2018 /CNW/ – The Competition Bureau has reached an agreement with a fourth car rental company, Discount Car & Truck Rentals Ltd., to address what the Bureau views as misleading representations. As part of the agreement, Discount will review its practices to ensure they comply with the law, and will pay a $700,000 […]

 

What else is needed for price transparency to control costs? | MedCity News

What else is needed for price transparency to control costs? | MedCity News

A panel at the MedCity Engage conference in San Diego on Nov. 6 will delve into the methods companies are undertaking to improve price transparency and the potential impact that price transparency could have on lowering larger healthcare costs. As healthcare spending continues to increase, consumers are increasingly demanding more transparency into the actual price […]

 

When Your Boss Is an Algorithm | The New York Times

When Your Boss Is an Algorithm | The New York Times

Surge pricing, which multiplies prices for passengers and earnings for drivers during periods of high demand, is another form of algorithmic management that encourages drivers to relocate to certain areas at certain times. The drivers get in-app notifications, heat maps and emails with real-time and predictive information about spikes in demand. A driver who wants […]

 

Decoding The Drive To Dynamic Pricing | Forbes

Decoding The Drive To Dynamic Pricing | Forbes

We see a steak selling for $8 at the supermarket and we assume that’s what everybody else will pay. (Unless there’s a loyalty card special.) Airline passengers packed on board a flight… a different story. We assume everyone in our cabin is paying a different fare… in some instances, dramatically different fares. Our perceptions of price […]

 

Will legal industry professionals be forced to make prices clear and accessible? | Title Research

Will legal industry professionals be forced to make prices clear and accessible? | Title Research

Transparent pricing within the legal sector has been a popular topic of conversation for some time now and the latest news reveals that legal professionals could be forced to make prices easier to understand and more accessible. It has been revealed that the Legal Services Board (LSB) has approved the Solicitors Regulation Authority’s (SRA) new […]

 

High iPhone prices are driving buyers to older models, early data suggests | AFR

High iPhone prices are driving buyers to older models, early data suggests | AFR

Apple may be paying a high price for the very high price tag it put on its latest generation of iPhones. An analysis of more than 500,000 online shopping visits in Australia and in the US suggests that, while there’s an unprecedented level of interest in the new iPhone XS and iPhone XS Plus, the cost […]

 

Pricing Practitioners: Are you winning the data intelligence game? | Pricing Matters

Pricing Practitioners: Are you winning the data intelligence game? | Pricing Matters

PPS Fall Session to Showcase Intelligent Data-Driven Pricing Strategies Today, commercial pricing success demands new ways of managing data. Pricing organizations are tasked with managing increasingly large and complex data sets coming from diverse sources that change rapidly. As a result, there is a failure to operationalize pricing strategy over a long-term horizon. Pricing organizations […]

 

Under pressure, drugmakers give an inch on DTC drug ads | BioPharma Dive

Under pressure, drugmakers give an inch on DTC drug ads | BioPharma Dive

Dive Insight: In adopting new voluntary principles, PhRMA is making a concession to calls from the White House and lawmakers to be more upfront with drug prices. But its cooperation only goes so far, as the trade group will continue to resist placing prices in ads directly. “Our industry is taking a new approach to […]

 

 

 

More Headlines

Trump signs bills aimed at increasing drug price transparency | CNNPolitics

Trump signs bills aimed at increasing drug price transparency | CNNPolitics

Washington (CNN) – President Donald Trump signed two pieces of legislation into law on Wednesday that aim to inform consumers about drug prices. Both measures, the Know the Lowest Price Act and the Patient Right to Know Drug Prices Act, aim to end the drug industry’s so-called gag orders of pharmacists, which prevent them from […]

 

Taylor Swift hits high note in battle against ticket touts | Financial Times

Taylor Swift hits high note in battle against ticket touts | Financial Times

After missing out on an estimated $150m in sales to touts on her 2015 tour, Ms Swift, equal parts musician and entrepreneur, hatched a plan with Ticketmaster to stamp out resales. For the tour supporting her latest album, Reputation, she initially only sold tickets to those who registered weeks ahead of time through Ticketmaster’s new technology, […]

 

Pinnacle warns of ‘intensified competition’ in grocery as Conagra deal nears | Food Dive

Pinnacle warns of ‘intensified competition’ in grocery as Conagra deal nears | Food Dive

Still, Brittany Weissman, an analyst at Edward Jones, told Food Dive last week that the deal was good for Conagra. The company in recent years has jettisoned its private label business and frozen potato company Lamb Weston to focus on its core brands, using M&A to bulk up in areas such as snacking and frozen where it already […]

 

US Shoppers Are Still Driven By Saving a Buck | eMarketer Retail

US Shoppers Are Still Driven By Saving a Buck | eMarketer Retail

A new National Retail Federation (NRF) study examines what it is calling “value shoppers,” the 89% of US consumers who frequent discount retailers. With a figure that high, this behavior transcends gender, region, income and age. Compared with five years ago, 63% of respondents said they buy more items on sale now. But where are […]

 

The Cost of Translation: Pricing your Project | Linguistica International

The Cost of Translation: Pricing your Project | Linguistica International

The cost of translation work is not something that’s particularly easy to define. Every project is different, so we have to provide a tailored quote to meet the particular needs of each client. There are a number of factors that we consider when drawing up a quote that provides excellent value for you but also […]

 

U.S. core inflation trails estimates as used-car prices tumble | Bond Buyer

U.S. core inflation trails estimates as used-car prices tumble | Bond Buyer

A gauge of underlying U.S. inflation was below estimates in September as used-vehicle costs fell and housing rents cooled, signaling that price gains may remain close to where Federal Reserve policy makers want them amid an outlook for continued gradual interest-rate hikes. Excluding volatile food and energy costs, the core consumer price index rose 2.2% […]

 

Cost-effectiveness doubts could hit Shire’s Takhzyro launch | Evaluate

Cost-effectiveness doubts could hit Shire’s Takhzyro launch | Evaluate

Vertex’s cystic fibrosis therapies can step aside – there are some new contenders for the dubious honour of being the least cost-effective drug. An analysis by the US Institute for Clinical and Economic Review (Icer) has concluded that Shire’s hereditary angioedema drugs Cinryze and Takhzyro are among the priciest it has ever evaluated. This could be […]

 

Pricing formula, a vital need says Pharma industry chief | Sunday Observer

Pricing formula, a vital need says Pharma industry chief | Sunday Observer

A pricing formula ultimately benefits the consumers by ensuring that the brands they wish to buy will be available on the shelf, and making it sustainable to import it. It will also ensure that the quality of medicines will not be compromised, says President of the Sri Lanka Chamber of Pharmaceutical Industry (SLCPI), Shyam Sathasivam. […]

 

More petrol pump pain as fuel prices surge in Perth | PerthNow

More petrol pump pain as fuel prices surge in Perth | PerthNow

MOTORISTS are battling the bowser, with the annual cost of filling the tank shooting up by an average of $140. Perth continued to edge towards record fuel prices this week, with petrol stations jacking up prices to a whopping 167.9¢ a litre on Tuesday and Wednesday. That’s a record for the year to date according […]

 

5 tips for hoteliers on how to manage pricing | Travel Daily Media

5 tips for hoteliers on how to manage pricing | Travel Daily Media

To make a property generate the maximum amount of revenue possible, you need to get your pricing strategy right. The aim of the game is to make optimum pricing decisions day in, day out, which is a real challenge in a fluid market. Fortunately for revenue managers there are some tried and tested price management […]

 

WHY THE REAL ESTATE IN NY IS NOT GOING VERY WELL? | Medium

WHY THE REAL ESTATE IN NY IS NOT GOING VERY WELL? | Medium

As you can see I decided to take into consideration some of the apartments, all of them Condo as the type of Building, in Manhattan, exactly in NoMad Area. The Common Charges, in annual terms, are not high. Indeed, its average price is less than $2,000. Despite this, just taking care of the RETAX (Real […]

 

Should I Publish My Prices On My Website? | Klood

Should I Publish My Prices On My Website? | Klood

Many businesses spend hours debating whether or not to publish their prices online. So what’s the answer? My invariable advice is that you should always be open and transparent in your pricing. People on your website want to know. Think about the last purchase you made. Once you’d set your sights on the product or […]

 

Uber plans to spend $10 million lobbying for new congestion pricing taxes on drivers | Daily Mail Online

Uber plans to spend $10 million lobbying for new congestion pricing taxes on drivers | Daily Mail Online

Uber has vowed to spend $10 million lobbying city governments across the U.S. to institute so-called ‘congestion pricing’ taxes on drivers. The company, which has already aggressively pursued a congestion pricing law in New York City, announced the three-year lobbying plan last month, saying it would pursue such policies in other cities. In a statement, […]

 

NJ gives OK for medical marijuana dispensaries to post price info | Press of Atlantic City

NJ gives OK for medical marijuana dispensaries to post price info | Press of Atlantic City

Medical marijuana patients can now shop products and know how much it’s going to cost due to new changes in the state program’s policies around price transparency. New Jersey’s six operating medical marijuana facilities can now publicly post their product prices on their websites and social media after state officials said that patients in the […]

 

Yapta Powers Airfare Price-Tracking Services for Direct Travel Clients

Yapta Powers Airfare Price-Tracking Services for Direct Travel Clients

DENVER & SEATTLE–(BUSINESS WIRE)–Oct 15, 2018–Direct Travel, Inc., one of the top travel management companies in the U.S., and Yapta, the leader in airfare and hotel price tracking services, have announced an agreement to make Yapta’s Intelligent Price Tracking technology available to all Direct Travel corporate customers. After a successful launch with select clients, Direct […]\

 

Northern Territories minimum unit pricing faces backlash | The Shout

Northern Territories minimum unit pricing faces backlash | The Shout

The Northern Territory became the first jurisdiction to introduce minimum unit pricing (MUP) on 1 October, as part of the Northern Territory Alcohol Harm Minimisation Plan 2018-19, and retailers are already facing consumer backlash. Attorney-General and Minister for Justice, Natasha Fyles, issued a media statement suggesting that some retailers may have been unfairly marking up […]

 

The War Between Car Sharing And Rental Companies Just Escalated. Here’s Why You Should Care | Forbes

The War Between Car Sharing And Rental Companies Just Escalated. Here’s Why You Should Care | Forbes

Since you mentioned consumer protection, let me ask the question: What’s in this for customers? There’s a federal law that says a car rental company can’t rent a car to a customer — or even sell a car from its fleet – that has an open federal safety recall. Peer-to-peer car rental customers don’t comply […]

 

The main issue with prescription drug price transparency | Axios

The main issue with prescription drug price transparency | Axios

Expect more big moves on prescription drug pricing today. Driving the news: HHS Secretary Alex Azar is giving a “major policy address” on drug prices this afternoon. Politico reported Friday that the administration would formally propose new regulations this week requiring drugmakers to include their sticker prices in their advertising, similar to the way they […]

 

Pharma bends on US pricing debate | Evaluate

Pharma bends on US pricing debate | Evaluate

Disclosing prices to consumers looks like a fait accompli, although the details are still being debated. Icer, meanwhile, could open the door to biopharma’s early participation in cost-effectiveness reports. If you can’t beat them, join them. That seems to be the guiding principle behind the biopharma sector’s overtures on drug pricing this week, offering a […]

 

Pinterest adds dynamic pricing, product recommendations for style and home decor | Venture Beat

Pinterest adds dynamic pricing, product recommendations for style and home decor | Venture Beat

Just in time for the holidays, Pinterest is announcing a slew of changes to make it easier for people to shop on its website and mobile app. First up, the company is phasing out its Buyable Pins — pins served up by retailers that allowed users to buy products without leaving Pinterest — and replacing […]

 

‘Airline Pricing’ Coming To Northwest Ski Areas | OPB

‘Airline Pricing’ Coming To Northwest Ski Areas | OPB

A popular Pacific Northwest ski resort is moving to airline-style ticket pricing this season. The cost of lift tickets at Mount Hood Meadows in Oregon will rise and fall daily based on demand. What the ski industry calls “dynamic pricing” was pioneered by major resorts in Colorado, Utah and California. It has been slow to spread […]

 

Drugmakers may have to disclose prices of medicine in television ads | The Washington Post

Drugmakers may have to disclose prices of medicine in television ads | The Washington Post

The nation’s top health official proposed on Monday that pharmaceutical companies be required to include the list price of medicines in television advertisements to consumers — the boldest in a series of efforts by the Trump administration to curb rampant drug spending. Under a major change laid out by Health and Human Services Secretary Alex […]

 

Drug-Price Transparency Won’t End the Patent Games | Bloomberg

Drug-Price Transparency Won’t End the Patent Games | Bloomberg

The laws regulating generic drugs were built on an important compromise. Companies would get a certain amount of time to have a monopoly on a new drug to reward them for doing the expensive research that resulted in the drug. But once that time had expired, generics would be allowed on the market, giving the […]

 

Mt. Hood Meadows starts demand-based pricing to offset ‘peak day’ problems | KATU

Mt. Hood Meadows starts demand-based pricing to offset ‘peak day’ problems | KATU

MT. HOOD, Ore. – Skiers and snowboarders hitting the lifts at Mt. Hood Meadows will see a change in price on daily lift tickets as they change to a “dynamic pricing” model. The pricing will be like demand-based price systems used by airlines or hotels. If more people are buying tickets, the price will go […]

 

Study blames Uber/Lyft for San Francisco traffic, Uber/Lyft blames Amazon, propose surge pricing | Boing Boing

Study blames Uber/Lyft for San Francisco traffic, Uber/Lyft blames Amazon, propose surge pricing | Boing Boing

A new report from the San Francisco County Transportation Authority attributes the majority (51%-73%) of the prodigious 2010-2016 increase in San Francisco traffic congestion on Uber and Lyft; the rideshare companies dispute the finding and say that it’s really down to increased Amazon Prime delivery vehicles and Lyft has offered to work with the city […]

 

Alleviate concerns about reference-based pricing disruption | BenefitsPRO

Alleviate concerns about reference-based pricing disruption | BenefitsPRO

As more employers seek out alternatives to high cost health care, solutions like reference-based pricing, also called metric-based pricing, are becoming more mainstream. It can be a complex concept that may be misunderstood by employers, but as a broker, you can make your clients aware of this exciting solution. Reference-based pricing offers substantial savings, and […]

 

Surge in spot power prices proves stressful for Flick Electric customers | Stuff

Surge in spot power prices proves stressful for Flick Electric customers | Stuff

Power retailer Flick Electric has customers experiencing such high spot prices many are opting to switch services – but at least one other retailer is refusing to take them on as customers. The company, which offers power at wholesale prices – also called spot prices – said the surge would continue to hit their customers’ wallets in the […]

 

Cost of blood pressure drug surges in U.S. after recall | Physician’s Weekly

Cost of blood pressure drug surges in U.S. after recall | Physician’s Weekly

NEW YORK (Reuters) – Prices for two dosages of the blood pressure drug valsartan rose more than any other drug in the United States in September, following a recall of much of the drug’s supply. Chinese pharmaceutical ingredient manufacturer Zhejiang Huahai Pharmaceuticals recalled valsartan from consumers in the United States in July after finding traces […]

 

 

 

Events and Resources

Fall Pricing Workshops & Conference | PPS

Date: October 23-26, 2018

Location: Renaissance Dallas Addison Hotel in Addison, TX

Please make plans to join us and well over 450 of your peers for the best event anywhere. We will be in Dallas, TX,October 23-26, 2018.

Don’t miss out on the Early Bird Discount (When 2 people from the same firm register at the same time (item of equal or lesser value), the 3rd registrant can attend FREE of charge). Offer expires September 14th!

 

14th Annual PPS European & Global Pricing Conference & Workshops | PPS

Date: November 28-30, 2018

Location: Mövenpick Hotel Amsterdam City Centre in Amsterdam, Netherlands

The Professional Pricing Society team and I are very proud to announce that we will be returning to Amsterdam for our next great event – The 14th Annual PPS European & Global Pricing Conference & Workshops held 28-30 November.

Conference keynotes, breakout sessions, and networking opportunities highlight the conference day on 30 November; While 28-29 November will be used for workshop days to help you enhance your pricing knowledge.

 

This blog series provides a forum for pricing professionals to share their insights and experience. Our guest bloggers share their knowledge about specific product or industry challenges, geographic complexities, strategies, tactics, and technologies.

 

Top Discussions

This blog category offers a collection of top pricing related conversations on LinkedIn or in the comments section of pricing related blogs and articles.

 

Pricing News LinkedIn Group

Join over 5,000 of your peers in the our LinkedIn discussion group. The group offers a place to share the latest pricing strategy and technology, news, events, resources, thought leadership, and discuss the latest pricing related successes and failures in the news.

 

Pricing Resources

Explore our collection of valuable pricing resources including:

 

The following is a daily-dose of pricing cartoons, quotes, and videos enjoy…

 

 

“Product Pricing is aligned to the way customers want to acquire their solutions and are delivered via different delivery models including appliances, the cloud, or as on-premise software solutions.

     – N. Robert Hammer