OnDemand WTP Pricing Research

This Week in Pricing > 11/3/18

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:

 

Vistaar

Vistaar is leading SaaS software provider that enables companies to optimize pricing, promotion, configuration, and rebate management.  Our solutions are powered by predictive models leveraged by machine learning that deliver profitable growth and maximize shareholder value.  Our world-class customer base spans a broad range of industries throughout the Global 2000 and includes: manufacturing, beverage alcohol, retailers, and many others.

 

Top Headlines

Research Reveals Disconnect Between Retailers and Consumers on Pricing | WWD

Research Reveals Disconnect Between Retailers and Consumers on Pricing | WWD

Apparently, shoppers’ views of price points are completely different from those of the executive leaders behind the brands and products they buy. Research released today at the WWD Apparel and Retail CEO Summit by technology solution provider First Insight Inc. reveals that there’s a “significant disconnect between senior retail executives and consumers” regarding low prices. […]

 

Pricer’s Points: To Capture Your Value, You Must Communicate Your Value | Tim Williams

Pricer’s Points: To Capture Your Value, You Must Communicate Your Value | Tim Williams

The work and solutions provided by your firm have likely created millions of dollars of value for your clients. How much of that value have you captured? When we leave money on the table, it’s not just because we have under-priced the work. It’s also because we have under-communicated our value. Worse still, we have […]

 

Injunctions granted against two western Kentucky businesses accused of price gouging | Tristate Homepage

Injunctions granted against two western Kentucky businesses accused of price gouging | Tristate Homepage

Preliminary injunctions have been granted against two western Kentucky companies accused of price gouging after Hurricane Florence in North Carolina. In the first suit, Nicholas Downey and Henderson-based Action Tree Pros will be forbidden from conducting tree removal services in North Carolina. In the second suit, Scott Lacey, Randy Shannon, and Scotts Tree Services will be […]

 

History can help re-frame California’s current rent control debate | UCLA

History can help re-frame California’s current rent control debate | UCLA

In less than two weeks, as the nation heads to the polls after a contentious mid-term election season, California voters will cast their votes on Proposition 10. The hotly debated measure would repeal the Costa-Hawkins Rental Housing Act, which froze municipal rent control laws across California and made them a matter of state, rather than […]

 

Price war – The frantic pace of price changes | KnowTechie

Price war – The frantic pace of price changes | KnowTechie

Retail, whether online or at a physical store, is becoming increasingly competitive. Online stores forced traditional retailers to lower prices to stay competitive. Now, many brick & mortar chains are using the same pricing technology as online retailers and the price war is becoming a vicious cycle. The Increasing Frequency of Price Changes Online and […]

 

Pricer’s Points: Subscription Monetization | Felix Krohn

Pricer’s Points: Subscription Monetization | Felix Krohn

The “Subscription Economy” is a term originally coined by Zuora CEO, Tien Tzuo, and since then picked-up by many media, describing a trend throughout most industries where traditional pay-per-products/services offerings are moving toward subscription-based business models and, consequently, transactional revenues are shifting to recurring revenues. This Subscription Economy has emerged due to select changes in […]

 

Uber launches ‘Ride Pass’ subscription service | Business Insider

Uber launches ‘Ride Pass’ subscription service | Business Insider

Uber said on Tuesday that it started offering a subscription service, called Ride Pass, that allows users to guarantee set prices for a monthly fee. The service is available in Los Angeles, Austin, Orlando, Denver, and Miami, an Uber representative told Business Insider, adding that it costs $24.99 a month in Los Angeles and $14.99 […]

 

The true madness of a viral wing pricing scheme | The Verge

The true madness of a viral wing pricing scheme | The Verge

If you’ve been on Twitter in the past week, you may have seen this bewildering wing menu. I saw it a few days ago, and it has consumed my thoughts in every unoccupied moment since. We know nothing of where it came from or why, although it’s probably safe to assume it’s a wing place. […]

 

MyTaxi advocates ‘surge pricing’ for Irish taxi market | Irish Times

MyTaxi advocates ‘surge pricing’ for Irish taxi market | Irish Times

Allowing taxi drivers to raise fares during peak periods, such as in the run-up to Christmas, on Saturday nights and in situations where public transport is unavailable, could help get people home quicker, boost public safety and encourage more people to work in the industry. This is according to MyTaxi’s Irish country manager, Alan Fox, […]

 

Funeral Homes Respond To Pricing Violations | WKAR

Funeral Homes Respond To Pricing Violations | WKAR

Coping with the death of a loved one is stressful, and the cost of a funeral might not be the first thing on your mind. In order to make shopping around for funeral services easier, the Federal Trade Commission requires funeral homes to give people pricing information early in the process. But in the eyes […]

 

Congestion Pricing Would Cut Weekly Express Bus Commute Times By Hours: Report | Streetsblog NYC

Congestion Pricing Would Cut Weekly Express Bus Commute Times By Hours: Report | Streetsblog NYC

Money is time. The proposed congestion pricing plan to create $1.5 billion in new funding for the MTA would also have the side benefit of saving express bus commuters up to two hours per week on their horrendously long commutes, a new report by the Riders Alliance reveals. All commutes on MTA express buses would […]

 

 

More Headlines

Lack of price transparency, consolidation, reimbursements & more: 4 key issues facing ASCs | Becker’s ASC Review

Lack of price transparency, consolidation, reimbursements & more: 4 key issues facing ASCs | Becker’s ASC Review

Almost every other industry has price transparency, and it is time for healthcare to catch up, said Stephen Blake, JD, CEO of Arlington, Texas-based Central Park ENT & Surgery Center. “We need to bend the cost curve. Price transparency should be our culture. Every other industry has the capability. We shouldn’t be the only industry […]

 

Oil and Gas Model stability as pressure on oil prices rises | IHS Markit

Oil and Gas Model stability as pressure on oil prices rises | IHS Markit

Research Signals – October 2018 Oil prices may be in for a wild ride as geopolitical and economic shocks threaten to spill over into markets. IHS Markit has raised its outlook on Brent and WTI prices in 4Q 2018 while noting that the next 18 months will be plagued by escalating tensions with Saudi Arabia, […]

 

Lowering Drug Prices in 3 Easy Pieces | American Council on Science and Health

Lowering Drug Prices in 3 Easy Pieces | American Council on Science and Health

The Trump administration made three proposals last week to influence drug prices, the good, the bad and the ugly. Ending a gag rule on pharmacists is good, the plan to put the “list” price of drugs on those direct to consumer (DTC) pharmaceutical ads is bad, and the consideration of basing US drug prices on […]

 

H&R Block announces upfront, transparent prices for all tax prep | NASDAQ

H&R Block announces upfront, transparent prices for all tax prep | NASDAQ

KANSAS CITY, Mo., Oct. 29, 2018 (GLOBE NEWSWIRE) — H&R Block (NYSE:HRB) will offer upfront, transparent prices starting in January for in person and online tax preparation. This represents an important shift in the tax industry, and a significant improvement in the experience for consumers. H&R Block clients can know the price before tax preparation […]

 

Pricing: How deep do you discount? | Source Global Research

Pricing: How deep do you discount? | Source Global Research

How much do you have to discount your consulting fee rates for if you want to have an impact on buying behaviour? 5%? 10%? 20%? Research we carried out five years ago suggested that small price cuts make no difference, except perhaps to the procurement manager who has the lonely and thankless task of demanding […]

 

Coal pricing drives Union Pacific Q3 revenue despite fall in carloads: company | S&P Global Platts

Coal pricing drives Union Pacific Q3 revenue despite fall in carloads: company | S&P Global Platts

Houston — Coal pricing has been a primary factor driving revenue growth in the Union Pacific’s third quarter earnings despite a 3% fall in coal and coke carloads, railroad executives said Thursday. In addition, increased fuel surcharge revenue along with a 6% increase in volume were primary drivers of revenue growth, Robert Knight, UP VP […]

 

Healthcare price growth significantly outpaces inflation | Modern Healthcare

Healthcare price growth significantly outpaces inflation | Modern Healthcare

Healthcare prices continue to rise across the country, according to a new study. Over a five-year period, healthcare prices increased in 111 out of 112 metro areas analyzed by the Health Care Cost Institute. The outlier was Durham-Chapel Hill, N.C., where prices dropped 5% from 2012 to 2016, HCCI’s analysis of 1.78 billion commercial health […]

 

Answering Your Questions about the IPI Drug Pricing Model | HHS

Answering Your Questions about the IPI Drug Pricing Model | HHS

How will this model affect patient access? Could this change my Medicare benefits? The IPI model does not include any restrictions on patient access or choice of drugs. This stands in marked contrast to proposals that would impose formularies in order to negotiate down drug prices. Given the size of the U.S. drug market and […]

 

Prestige Imports: How much it costs to lease a Pagani Huayra Roadster  | CNBC

Prestige Imports: How much it costs to lease a Pagani Huayra Roadster  | CNBC

A Pagani Huayra Roadster is expensive — the price starts at $2.6 million. If you don’t have that kind of cash upfront, you can lease one, but that’s not cheap either. “The majority of our clients are going ahead and writing a check to buy the car on the spot,” Brett David, CEO of Prestige […]

 

Government urged to set up fuel pump pricing watchdog | theHRD

Government urged to set up fuel pump pricing watchdog | theHRD

What we pay to fill up our cars vans and trucks isn’t regulated at all. And having no government overseer or impartial pricing body means that how, when and why forecourt prices rise, and fall remains a closely guarded secret. Howard Cox, Founder – FairFuelUK. FairFuelUK along with hundreds of MPs and their constituents want […]

 

The ‘vendors’ in HHS’ new drug pricing plan sound an awful lot like PBMs, experts say  | FierceHealthcare

The ‘vendors’ in HHS’ new drug pricing plan sound an awful lot like PBMs, experts say  | FierceHealthcare

Despite railing against the role of middlemen—namely pharmacy benefit managers—in rising drug prices, the Trump administration appears poised to introduce some of its own into the Part B program. The Department of Health and Human Services unveiled its International Pricing Index (IPI) model last week, which aims to bring down the costs of pharmaceuticals in […]

 

Online grocery shopping, spend poised to climb | Supermarket News

Online grocery shopping, spend poised to climb | Supermarket News

More than half of U.S. consumers are projected to be shopping online for groceries next year, and those who do are expected to boost their spending, according to KPMG’s 2018 Grocery Retail Consumer Perception Survey. Of more than 2,000 grocery customers polled, 48% currently do some or all of their grocery shopping online and 59% […]

 

‘Dynamic pricing’ takes hold in Japan | NHK World – Japan

‘Dynamic pricing’ takes hold in Japan | NHK World – Japan

An increasing number of businesses in Japan are setting prices of their goods and services based on the level of demand. The practice is known as “dynamic pricing.” Tickets for Japanese professional baseball games were recently sold this way through the Internet. Visitors to the home stadium of the Fukuoka SoftBank Hawks paid different prices […]

 

Call for ‘surge pricing’ for taxi fares to be allowed… | News Talk

Call for ‘surge pricing’ for taxi fares to be allowed… | News Talk

There are calls for taxis drivers to be allowed raise fares during peak periods like the run-up to Christmas or weekends. MyTaxi confirmed to the Irish Times that they are in talks with the National Transport Authority about increased flexibility around pricing. Under current regulations, taxi drivers are restricted in the amount they can charge […]

 

Understanding Value-Based Pricing in Business | See Girl Work

Understanding Value-Based Pricing in Business | See Girl Work

Good freelancers price by the value they provide to their clients. Pricing by value emphasizes quality and benefits, not quantity or speed. Here’s how to implement a value-based pricing strategy. Since I started my freelance content writing business a little over a year ago, I’ve gone through several iterations of my pricing strategy. At first, […]

 

CLIP of the month: Does orphan drug pricing pose an antitrust problem? | The CLIP Board

CLIP of the month: Does orphan drug pricing pose an antitrust problem? | The CLIP Board

Both the US and EU have therefore sought to incentivise companies to develop orphan drugs. For example, in the US, the Orphan Drugs Act 1983 provides tax credits for clinical research into rare diseases, and the EU’s Horizon 2020 scheme provides funding of around €900 million for collaborative projects related to rare diseases. Although more […]

 

Utah lawmakers question prescription drug pricing, talk importation from Canada | KSL

Utah lawmakers question prescription drug pricing, talk importation from Canada | KSL

Dr. Marc Babitz, deputy director at the health department, told lawmakers that Canadian importation would mean a lot of new responsibilities for Utah, including possible creation of an agency or office to oversee, administer and distribute imported drugs. He also said the state would have to prove there is a market for it, that enough […]

 

The NBA is selling lower-priced versions of League Pass | Digiday

The NBA is selling lower-priced versions of League Pass | Digiday

The NBA is diversifying its subscription product, NBA League Pass, to offer more lower-cost pricing options outside its core $200 package. This season, the NBA started selling access to a full game for $6.99, through the NBA’s app, League Pass and B/R Live, a streaming service operated by Bleacher Report. Starting later this year, it […]

 

Uber Introduces PyML: Their Secret Weapon for Rapid Machine Learning Development | Towards Data Science

Uber Introduces PyML: Their Secret Weapon for Rapid Machine Learning Development | Towards Data Science

Uber has been one of the most active companies trying to accelerate the implementation of real world machine learning solutions. Just this year, Uber has introduced technologies like Michelangelo, Pyro.ai and Horovod that focus on key building blocks of machine learning solutions in the real world. This week, Uber introduced another piece of its machine […]

 

Orocobre seeing ‘psychology’ change in lithium pricing | MiningNews

Orocobre seeing ‘psychology’ change in lithium pricing | MiningNews

Orocobre achieved a new record quarterly sales price of US$14,699 per tonne (free-on-board) in the September quarter, above June’s record of $13,653/t. Managing director Richard Seville said he expected December quarter pricing to be lower, but pricing for the half shouldn’t be materially lower than what was achieved in the June half. He told analysts […]

 

New insurance to guard against price surges on ride-hailing apps when it rains | TODAYonline

New insurance to guard against price surges on ride-hailing apps when it rains | TODAYonline

SINGAPORE — To deal with a big peeve among users of ride-hailing applications, a new insurance product promises protection against price surges for rides during wet weather. Called Droplet, the new product by insurer NTUC Income offers users up to 60 per cent of their fares or cancellation fees back if it was raining at […]

 

France Plans Congestion Pricing for Big Cities | CityLab

France Plans Congestion Pricing for Big Cities | CityLab

The charges laid out by the proposed law are fairly modest. Cities of over 100,000 residents would be permitted to charge cars €2.50 (about $2.87) each time they enter a congestion-controlled zone; larger vehicles could be charged up to €10 ($11.50). All charges would be paid online, though the exact method is not stipulated and […]

 

Trump adds a global pricing plan to wide attack on drug prices, but doubts persist | Salon

Trump adds a global pricing plan to wide attack on drug prices, but doubts persist | Salon

President Donald Trump’s new pledge to crack down on “the global freeloading” in prescription drugs had a sense of déjà vu. Five months ago, Trump unveiled a blueprint to address prohibitive drug prices, and his administration has been feverishly rolling out ideas ranging from posting drug prices on television ads to changing the rebates that […]

 

Can Cognitive Biases be Used to Fix Prices? | Entrepreneur India

Can Cognitive Biases be Used to Fix Prices? | Entrepreneur India

How should we price our product? Should we start low, deliver value and then demand a higher price? Or should we start high? Price-Quality Heuristic Most people are aware of price-quality heuristic, maybe not by that name. Heuristics, simply put, are the mental shortcuts that people employ to make quick judgements. Price-quality heuristic is the […]

 

Drunkards association unhappy with increase in price of beer (Video) | YEN

Drunkards association unhappy with increase in price of beer (Video) | YEN

The Ghana Drunkards Association has threatened to embark on a demonstration against government if prices of alcoholic beverages are not reduced. According to them, the price of beer has shot up in recent weeks without any tangible reason, making it difficult for them to enjoy themselves. President of the Ghana Drunkards Association, Moses Onyah, popularly […]

 

B2B’s payment challenges extend to pricing | PaymentsSource

B2B’s payment challenges extend to pricing | PaymentsSource

If only the B2B buying process were as simple as ordering a pair of shoes online. You’d find, say, a fleet of 18-wheelers, configured exactly how you want them, in the exact models you need. With a click of a button, you’d have an exact quote ready to go. In less than a few minutes, […]

 

US pricing plan slammed for imposing “foreign price controls” | PMLiVE

US pricing plan slammed for imposing “foreign price controls” | PMLiVE

President Trump’s latest plan to bring down the cost of medicines in the US has drawn fire from the drug industry, which claims it will undermine access to medicines for some of the country’s neediest people. Last week, Trump unveiled proposals to bring US prices for drugs covered by Medicare Part B – which covers […]

 

 

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…

 

 

“For me, it’s not about price. It’s about necessity, quality, and usefulness.

     – Fergie