This Week in Pricing > 10/27/18

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

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Professional Pricing Society

Currently, PPS produces three major annual pricing conferences in Europe and North America. Each conference also houses a technology hall where sponsors display the latest in Pricing Solutions software. PPS also offers more than two dozen, full-day training workshops every year, taught by leaders in the pricing community. These workshops serve as the foundation for PPS’s Certified Pricing Professional (CPP) designation, our state of the art pricing certification program. Candidates may be certified after mastering a multi-stage curriculum followed by rigorous testing. Successful CPPs have acquired the core knowledge which not only places them in the top rungs of the pricing field, but also gives them the tools to enhance substantially their own careers.

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Top Headlines

Maryland asks Supreme Court to uphold law against generic drug price-gouging | Becker’s Hospital Review

Maryland asks Supreme Court to uphold law against generic drug price-gouging | Becker’s Hospital Review

Maryland Attorney General Brian Frosh is asking the U.S. Supreme Court to uphold a state law designed to combat price-gouging of generic drugs. He specifically seeks to reverse the 4th U.S. Circuit Court of Appeals’ April decision that the law violated the U.S. Constitution by attempting to regulate trade outside of Maryland, The Baltimore Sun […]

 

NTUC Income’s new insurance plan shields commuters from surge pricing on Grab when it rains, Transport | THE BUSINESS TIMES

NTUC Income’s new insurance plan shields commuters from surge pricing on Grab when it rains, Transport | THE BUSINESS TIMES

IN a move that suggests ride-hailing and surge pricing are here to stay, NTUC Income on Wednesday announced the launch of Droplet, a first-of-its-kind insurance product that protects commuters against unpredictable surge pricing on ride-hailing platforms when it rains. For now, Droplet covers only rides booked via Grab. It will be extended to other ride-hailing platforms by […]

 

What’s The Future Of MoviePass? Popular App To Be Spun Off From Parent Company | Infosurhoy

What’s The Future Of MoviePass? Popular App To Be Spun Off From Parent Company | Infosurhoy

The move came less than a week after New York Attorney General Barbara Underwood started an investigation into Helios and Matheson for possible securities fraud. Shares of Helios and Matheson Analytics have plummeted amid worries that it could be delisted by the Nasdaq. Investors responded positively to the news. Shares of Helios and Matheson gained […]

 

Workshop: Data Monetization: A Practical Roadmap for Framing, Pricing, and Selling Your B2B Digital Offers 26-Nov | Stephan Liozu, CPP

Workshop: Data Monetization: A Practical Roadmap for Framing, Pricing, and Selling Your B2B Digital Offers 26-Nov | Stephan Liozu, CPP

DESCRIPTION (Level 600 Workshop) The digital revolution promises trillions of dollars in created value by 2030. Consultants and researchers are projecting massive disruption in industrial sectors. As a result, PwC states in their DigitalIQ report that 73% of executives are investing in internet of things (IoT) and 54% in artificial intelligence (AI). ABB predicts that […]

 

Walter Williams: How you can prevent price gouging during a disaster | Greensboro.com

Walter Williams: How you can prevent price gouging during a disaster | Greensboro.com

Thirteen states — Alabama, Arkansas, Florida, Georgia, Indiana, Louisiana, Mississippi, New York, North Carolina, South Carolina, Tennessee, Virginia and West Virginia — have enacted laws to combat what is seen as price-gouging in the wake of natural disasters. Price gouging is legally defined as charging 10 to 25 percent more for something than you charged […]

 

What really matters in B2B dynamic pricing | McKinsey

What really matters in B2B dynamic pricing | McKinsey

Companies that succeed at analytics-based pricing build a strong foundation—and include their salesforce in developing it from the start. Like many of its peers, a medical-technology company was struggling to adapt to changing market dynamics. Its traditional relationship-based sales model was coming under threat from increased competition and scrutiny from hospitals, while end users, especially […]

 

Why Rent Control Is a Lightning Rod | The New York Times

Why Rent Control Is a Lightning Rod | The New York Times

What do some economists think cities should do instead? Build more housing. California is one of the nation’s most heavily regulated building markets, and has underproduced housing for decades. The state ranks 49th of 50 (above Utah) in the number of housing units per capita. Fewer homes = higher prices.Of course, this won’t do much […]

 

Drug Companies, Not ‘Middlemen’, Are Responsible For High Drug Prices | Forbes

Drug Companies, Not ‘Middlemen’, Are Responsible For High Drug Prices | Forbes

As pharmaceutical companies have faced more heat for their pricing practices, they’ve found someone else to blame: “middlemen” who extract discounts from drugmakers. But in fact, if it weren’t for middlemen like wholesalers and pharmacy benefit managers, drug prices would be even higher. When Donald Trump was running for President in 2016, he promised to […]

 

‘We have not misled investors’: MoviePass denies wrongdoing in N.Y. fraud investigation | WLTX

‘We have not misled investors’: MoviePass denies wrongdoing in N.Y. fraud investigation | WLTX

Helios and Matheson Analytics Inc., the parent company of subscription-based movie ticketing service MoviePass, is denying claims that it misled investors about its finances amid a fraud investigation. The company said in an email on Wednesday that it is “fully cooperating” with the probe opened by New York Attorney General Barbara Underwood. “We are aware of the […]

 

Ola, Uber drivers off the road over base fare hike | The Hindu

Ola, Uber drivers off the road over base fare hike | The Hindu

Around 200 drivers staged a protest outside Uber’s office in Kurla in the afternoon. Sunil Borker, secretary of the transport wing, MRRSK, said when protesters reached the Uber office, it was closed. “Hence, drivers decided to go on a strike. All the drivers will be offline till the companies come forward to have a dialogue […]

 

Women Are Charged $100,000 More for the Same Products as Men. Here’s What You Can Do to Stop It | Inc

Women Are Charged $100,000 More for the Same Products as Men. Here’s What You Can Do to Stop It | Inc

When it comes to being a woman, the struggle is real. There’s the gender pay gap. There’s the gross underrepresentation of women in executive positions, and on conference stages. Data revealed that women founders only received two percent of venture capital funding in 2017. And now, according to a pricing study conducted by the New York City Department […]

 

 

 

More Headlines

WLTP ‘artificially inflating’ used car prices, says Shoreham Vehicle Auctions | Fleet Industry News

WLTP ‘artificially inflating’ used car prices, says Shoreham Vehicle Auctions | Fleet Industry News

Used vehicle prices are being artificially inflated post-WLTP as competition hots up for ex-fleet and nearly-new stock, says Shoreham Vehicle Auctions (SVA). The company predicts they are likely to stay this way until spring next year as the used car market continues to thrive and manufacturers continue to iron out their WLTP challenges. … This […]

 

iPhone XR is Apple’s strategy to disrupt itself with features and price before others do, says analyst | 9to5Mac

iPhone XR is Apple’s strategy to disrupt itself with features and price before others do, says analyst | 9to5Mac

While the analyst note mentions that it’s still of course worthwhile for Apple to make its high-end iPhones, Lam says that the XR is Apple’s way of disrupting itself before others have an opportunity to. While there is still strong demand for premium smartphone products, the marketers at Apple understand that most consumers will not […]

 

How enterprises use dynamic pricing algorithms with AI, CRM | Tech Target

How enterprises use dynamic pricing algorithms with AI, CRM | Tech Target

Dynamic pricing, a strategy in which prices for things like hotel rooms, airline tickets, computer hardware and basically anything on Amazon change minute by minute, has been around for years. What’s new is AI-assisted dynamic pricing algorithms hard-wired into CRM platforms, giving Salesforce and Microsoft Dynamics users the ability to automate real-time pricing according to […]

 

Hyundai CMO Evans: ‘94% of customers like or love our car-buying process’ | The Drum

Hyundai CMO Evans: ‘94% of customers like or love our car-buying process’ | The Drum

The finding was one of a few discussed by Dean Evans, Hyundai North America’s chief marketer at the JD Power Automobile Marketing Roundtable in Las Vegas. After piloting the program in Houston, Dallas, Atlanta and Miami in 2017, Evans took the program nationwide across 330 dealerships. In a keynote to automobile marketers, Evans spoke on […]

 

Surge in online data turning used-vehicle sales into a buyer’s market | Windsor Star

Surge in online data turning used-vehicle sales into a buyer’s market | Windsor Star

TORONTO — The balance of power in the used car market is shifting towards shoppers as improved data and online offerings create more opportunities to push for the best price. A fast-evolving online marketplace is providing more intelligence on the fair value of cars, said Cliff Banks, a Detroit-based auto retail expert. “I don’t know […]

 

Priced out of flats, now moved on in their vans: Bristol’s rent crisis | The Guardian

Priced out of flats, now moved on in their vans: Bristol’s rent crisis | The Guardian

Brian Meekle’s caravan is parked beside the M32 motorway that cuts through the eastern half of Bristol. Meekle has been living there for the past two months because he doesn’t earn enough from the 33-to-45-hour weeks he works at a nearby retail warehouse to pay the rent for a flat. “The rents in Bristol have […]

 

How to spot price gouging in Austin after water boil notice [Video] | KVUE

How to spot price gouging in Austin after water boil notice [Video] | KVUE

If you’re planning to make a trip to the story to buy water, it’s important to remember that price gouging is illegal. If the store is charging more than it normally would, make sure you report it. Read complete article here: How to spot price gouging in Austin after water boil notice | kvue.com.

 

Parking meter surge pricing around Wrigley Field for games and concerts to end this year | Chicago Tribune

Parking meter surge pricing around Wrigley Field for games and concerts to end this year | Chicago Tribune

A two-year experiment on raising parking meter prices around Wrigley Field during Cubs games and concerts will end this year, Wrigleyville’s alderman said Monday. Ald. Tom Tunney, 44th, said local businesses were tired of being the only ones in the city where “surge pricing” was in place. He said he will stop the program at […]

 

 

Prices are becoming more uniform and that’s to Amazon’s advantage | Digital Commerce 360

Prices are becoming more uniform and that’s to Amazon’s advantage | Digital Commerce 360

While e-commerce is driving retailers to change prices more frequently, it is also leading to more uniform pricing across online and offline retailers, according to a new National Bureau of Economic Research working paper by Alberto Cavallo, Harvard Business School professor. Those conditions are giving consumers less reason to comparison shop since it’s unlikely they’ll find a […]

 

EU negotiators agree ‘dynamic pricing’ of electricity | EURACTIV

EU negotiators agree ‘dynamic pricing’ of electricity | EURACTIV

Energy companies with more than 200,000 clients will be obliged to provide households with at least one offer comprising dynamic price contracts, under an EU-level agreement reached behind closed doors last week, EURACTIV.com has learned. European Union legislators made headway on a proposed overhaul of EU electricity market rules, striking an agreement on “aggregators” – or […]

 

Is Costco’s Same-Day Fresh Food Delivery Worth It? | Consumer Reports

Is Costco’s Same-Day Fresh Food Delivery Worth It? | Consumer Reports

What We Found For our particular market basket of fresh food, we found: • Costco’s member pricing for delivery was 31 percent higher, on average, than what it charged members in its warehouse (see chart below). Costco says those higher prices reflect the cost of service and delivery; unlike with other delivery services, you pay no […]

 

Grab eyes lowering cap on surge pricing during the holidays | Inquirer News

Grab eyes lowering cap on surge pricing during the holidays | Inquirer News

Grab Philippines said on Monday that it might lower its surge pricing cap at the start of the Christmas season to meet passenger demand. Leo Gonzales, Grab Philippines public affairs, said during the launch of a safety roadmap that the surge rate of the ride hailing company may be as low as 1.4 times during the holiday […]

 

Tokyo Steel to hold product prices steady for 9th straight month | Reuters

Tokyo Steel to hold product prices steady for 9th straight month | Reuters

TOKYO, Oct 22 (Reuters) – Tokyo Steel Manufacturing Co Ltd , Japan’s top electric-arc furnace steelmaker, on Monday said it would hold steel product prices steady in November amid rising local inventory in steel sheets and weaker prices abroad. This will mark the ninth straight month that Tokyo Steel has kept prices unchanged. It last […]

 

Agreements And Algorithms Can Add Up To Antitrust Liability – Anti-trust/Competition Law | Mondaq

Agreements And Algorithms Can Add Up To Antitrust Liability – Anti-trust/Competition Law | Mondaq

Last week in a hearing before the Senate Subcommittee on Antitrust, Competition Policy, and Consumer Rights, Assistant Attorney General (AAG) Makan Delrahim announced that the Department of Justice (DOJ) is pursuing criminal charges against competitors who allegedly engaged in a price-fixing scheme facilitated by the use of search algorithms. While he did not reveal further […]

 

Henderson firms accused of hurricane price-gouging | Courier & Press

Henderson firms accused of hurricane price-gouging | Courier & Press

HENDERSON, Ky. – Two Henderson firms are being accused of price gouging in North Carolina in the wake of Hurricane Florence. North Carolina Attorney General Josh Stein has filed two separate price gouging lawsuits involving tree removal in the Wilmington, N.C. area, according to a press release from the North Carolina Department of Justice. In the first suit, […]

 

Price gouging after disasters is illegal | Murfreesboro Post

Price gouging after disasters is illegal | Murfreesboro Post

Tennessee law helps protect consumers against “price gouging” after disasters. Q. What exactly is “price gouging?” “Price gouging” happens when businesses sharply and unreasonably raise the prices of their goods and services after an event such as a natural disaster or an act of terrorism. Higher prices are not automatically “price gouging” and may be […]

 

Drug industry too resistant to pricing transparency | Toledo Blade

Drug industry too resistant to pricing transparency | Toledo Blade

Health and Human Services Secretary Alex M. Azar II pointed out that car-makers have to display a sticker price in the interest of transparency. Drug-makers should have to play by the same rules — especially when some prescriptions cost almost as much as a used car. If the proposed rule applied to commercials you watch […]

 

Which one is better between Uber and Lyft? | MobileAppDaily

Which one is better between Uber and Lyft? | MobileAppDaily

Price Comparison: Lyft and Uber People prefer ride-sharing services because they find this means of transportation more cost efficient than other modes of transport. But what would you still travel with these services if they unexpectedly increased your ride charges? In the above images, we have described the whole process of facing an increase in […]

 

Trump health agenda: Transparent drug prices, lower insurance costs | USA Today

Trump health agenda: Transparent drug prices, lower insurance costs | USA Today

Price transparency is an FDA priority FDA Commissioner Dr. Scott Gottlieb told me that the focus at FDA has been to create more product competition both through “more efficient routes for generics to enter the market” as well as among branded medications. Paving the way for innovation brings more novel medications to market  “so that patients can […]

 

‘They might get more tickets:’ Some concerned after passage of proposal to raise parking rates | FOX6 Now

‘They might get more tickets:’ Some concerned after passage of proposal to raise parking rates | FOX6 Now

“There’s going to be surge pricing, where you could be paying a lot more than what you’ve paid before. I voted against it. I’m strongly opposed to it,” said Alderman Tony Zielinski. Alderman Zielinski, who is running for mayor, said he believes close to $2 million of additional revenue expected will be used to fund […]

 

Feds, Big Pharma issue competing price transparency plans | Modern Healthcare

Feds, Big Pharma issue competing price transparency plans | Modern Healthcare

The war of words between Big Pharma and the Trump administration over soaring drug prices escalated last week with a pair of dueling news releases. Hours before the CMS issued a proposed regulation on price transparency, the trade group Pharmaceutical Research and Manufacturers of America announced modifications to its voluntary guidelines on direct-to-consumer advertising. Mainly, […]

 

P&G shares surge on strong results, higher product prices | Reuters

P&G shares surge on strong results, higher product prices | Reuters

The maker of Tide detergent and Oral-B toothpaste had told retailers during the quarter it planned to raise prices on “several products” in U.S. home care, oral care and personal care, Chief Financial Officer Jon Moeller said on a call to discuss earnings. On Thursday, Nestle (NESN.S) and Unilever (ULVR.L),< UNc.AS>, two of the world’s […]

 

Energy Stocks Open Higher As Oil Surge Raises Prices | Nasdaq

Energy Stocks Open Higher As Oil Surge Raises Prices | Nasdaq

Energy stocks are set to open broadly higher, lifted by encouraging earnings results from oilfield services bellwether Schlumberger and stronger broader index futures and rising oil prices . Schlumberger’s third-quarter profit rose 18.2 percent on higher oilfield services demand and the company said it expects the current pipeline bottlenecks in the Permian basin to be […]

 

Pricing boosts Nestle in Waters, the Americas | Food Business News

Pricing boosts Nestle in Waters, the Americas | Food Business News

VEVEY, SWITZERLAND — Pricing actions paid off for Nestle S.A. in its Americas zone and its Waters business through the first nine months of the year. An increase in pricing, which reflected inflation in commodity and freight costs, had a positive effect of 0.6% as the Americas (A.M.S.) zone reported organic sales growth of 1.4%. […]

 

Letter: Make drug pricing transparent for Ohioans | The Columbus Dispatch

Letter: Make drug pricing transparent for Ohioans | The Columbus Dispatch

I respond to the Oct. 10 Dispatch editorial “Medicaid in need of transparency and oversight” regarding drug pricing. As a former administrator in Ohio’s Medicaid office, I was privy to meetings with both the pharmacy staff and pharmacy companies. Frequently I saw staff members agree with basically whatever the companies wanted. As a taxpayer and […]

 

Is a Kansas City Star subscription worth $846? | Kansas City Business Journal

Is a Kansas City Star subscription worth $846? | Kansas City Business Journal

Poynter reports that a Star subscriber got an annual renewal notice that asked him to pay $846.66 a year for his subscription. The subscriber, who is a retiree in an upscale part of the metro, asked the Star’s sales team to discount the cost, suggesting the newspaper reduce the rate to the $600-something his neighbor […]

 

Report: 5G Smartphone Costs Will Require Return to Subsidy Pricing | Telecompetitor

Report: 5G Smartphone Costs Will Require Return to Subsidy Pricing | Telecompetitor

The power of 5G won’t be cheap, Strategy Analytics points out in a new report about 5G smartphone costs. The phones are expected to sell for more than $1,000 ($750 wholesale) when they are introduced sometime next year, according to the analyst firm, which adds that 5G device prices will decline at a much slower […]

 

 

Events and Resources

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…

 

 

“Successful pricing is an art, not a science.”

     – John I. Leahy