This Week in Pricing > 11/4/17

pricingnews-WeeklyThis Week in Pricing is a recap of the week’s best pricing focused news, strategy expert and technology leader’s thought leadership, industry news and events, and resources for pricing professionals.

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Top Headlines

Why wait? eBay Black Friday 2017 deals start this week | TechRadar

Why wait? eBay Black Friday 2017 deals start this week | TechRadar

eBay deals on Black Friday 2017 may not be here for a few more weeks, but the retail site is getting into the savings spirit early with some scary good sales the day after Halloween. And that’s just the beginning. You see, eBay wants you to be a “first-minute” shopper this year by saving big […]

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Who has the lowest Halloween candy prices this year? | WCPO Cincinnati, OH

Who has the lowest Halloween candy prices this year? | WCPO Cincinnati, OH

Halloween candy season is here. But where should you buy it? 9 on Your Side checked bags of snack size candy at Walmart, Walgreens, CVS, Target, Meijer, and Kroger. We found slight price differences, though if you are buying 5 or more bags, the savings can really add up. Kroger has small bags of snack […]

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Halloween spending will hit a record high. Here are a few tricks to save. | USA Today

Halloween spending will hit a record high. Here are a few tricks to save. | USA Today

1. Costumes Tis the season for costly costumes. Americans are expected to shell out around $3.4 billion on Halloween attire. Men, on average, spend more than women. ($96 vs. $77.) But before you pull a Wednesday Addams and dress like everyone else, here are a few tips for frugal shoppers. Pop-up shops and Halloween-themed stores […]

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Can oil prices go above $60? U.S. shale output a pivotal factor | USA Today

Can oil prices go above $60? U.S. shale output a pivotal factor | USA Today

Oil prices flirted with $60 per barrel a few weeks ago, but stopped short of that key psychological threshold and quickly retreated. What will it take to break above $60? Brent hit $59.77 per barrel on Sept. 26, but was back to $55 per barrel a few days later. There are many reasons why oil […]

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Regal to Test Demand-Based Movie Ticket Pricing | Variety

Regal to Test Demand-Based Movie Ticket Pricing | Variety

The Regal Entertainment Group exhibition chain will test demand-based pricing for film tickets in several markets early next year through its partnership with mobile ticketing app maker Atom Tickets. The move could lead to higher prices for blockbusters and lower prices for unsuccessful films. Three-year-old Atom, backed by Disney, Fox, and Lionsgate, has been pushing […]

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Road pricing report pinpoints traffic hotspots ahead of public consultations | CTV Vancouver News

Road pricing report pinpoints traffic hotspots ahead of public consultations | CTV Vancouver News

“It’s time to have a conversation about new ways of approaching this issue,” Allan Seckel, chair of the independent commission, said in a news release. “Our research shows Metro Vancouver residents are open to new ideas. The fact is, we already pay some forms of mobility pricing – such as gas taxes or transit fares […]

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Rapid flurry of new drug pricing leaves no room for public debate | TheHill

Rapid flurry of new drug pricing leaves no room for public debate | TheHill

Unfortunately, rather than celebrating these advances, we are left in shock at the cost. In August, Novartis announced the price of their CAR-therapy — a form of treatment primarily for blood cancers like leukemia and lymphoma — was $475,000 per patient based (although they may offer a refund for patients who do not benefit from […]

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Apple Inc.’s Brilliant Apple Watch Series 3 Pricing Strategy | The Motley Fool

Apple Inc.’s Brilliant Apple Watch Series 3 Pricing Strategy | The Motley Fool

While I’m impressed with the Apple Watch Series 3, something that might be just as impressive is Apple’s pricing strategy for the product line. Allow me to explain. Apple doesn’t charge that much extra for cellular All of the higher-end Apple Watch Series 3 watches — that is, the variants with stainless steel as well […]

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Shopper highlights Walmart price inconsistencies | WAFF-TV

Shopper highlights Walmart price inconsistencies | WAFF-TV

HUNTSVILLE, AL (WAFF) – Price matching can save consumers the trouble of traveling to different stores, but some stores don’t even price match their own items. This is true for retail giant Walmart, however, it depends on the location and not necessarily what the item may be. WAFF 48 News stopped at five Huntsville area locations to […]

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Pricer’s Points: B2B SaaS Pricing: New dog, old tricks? | Mrinal (MG) Gurbaxani

Pricer’s Points: B2B SaaS Pricing: New dog, old tricks? | Mrinal (MG) Gurbaxani

They say you can’t teach an old dog new tricks, but what about teaching a new dog new tricks? SaaS companies have become the darlings of innovation, embracing the latest technology platforms, new business models and modern marketing strategies – then why are these “new dogs” adopting outdated pricing practices that their traditional industry peers have […]

 

First, Amazon destroyed retail — now, it’s coming for Starbucks | ZDNet

First, Amazon destroyed retail — now, it’s coming for Starbucks | ZDNet

Let’s look at their customer engagement model. A typical customer might make a coffee at home with whatever system and brand of coffee they have (hopefully Starbucks) and perhaps pick up a drink at a Starbucks store on the way to work. If they are particularly addicted, they’ll buy a few during the day, but […]

 

“Pricing and the CEO” – Hermann Simon, Chairman, Simon-Kucher & Partners | The Marketing Journal

“Pricing and the CEO” – Hermann Simon, Chairman, Simon-Kucher & Partners | The Marketing Journal

We are observing an increasing involvement of CEOs in pricing, which has a significant impact on profit performance. The CEO’s role is threefold: strategic, cultural, and custodial. If a company chooses a premium price positioning, all aspects of strategy, culture and implementation have to be different from those of a company that aims for a […]

Harvey-related price-gouging complaints filed against 127 gas retailers | Caller-Times

Harvey-related price-gouging complaints filed against 127 gas retailers | Caller-Times

AUSTIN – More than 125 Texas retailers are accused of price-gouging for charging customers nearly $4 or more for a gallon of unleaded gas or diesel after Hurricane Harvey knocked out refinery capacity along the Gulf Coast in late August. Texas Attorney General Ken Paxton said Monday that he gave the retailers the option of resolving the matter […]

 

More Headlines

Execute Your Plans with Courage, Not Hubris | Strategic Pricing Solutions

Execute Your Plans with Courage, Not Hubris | Strategic Pricing Solutions

If the team has identified certain products as being superior to competing alternatives, and has quantified how that superiority creates value for customers versus the alternatives, those products should have higher prices than the competitors’.  If that means raising some prices more than expected, so be it.  If the team is afraid to execute the […]

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Why being passive can be unhealthy for revenue management | EyeforTravel

Why being passive can be unhealthy for revenue management | EyeforTravel

Too much intervention can be problematic but a balanced and active approach to airline RM works best. Tom Bacon reports ‘Passive’ revenue management (PRM) takes human intervention out of the equation. It means complete reliance on the sophisticated analytical model for setting fares – letting the sophisticated forecast and optimisation model allocate inventory across fare […]

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7 Last Minute Halloween Costumes That Require No Money Or Effort Because You’re Just That Lazy | Elite Daily

7 Last Minute Halloween Costumes That Require No Money Or Effort Because You’re Just That Lazy | Elite Daily

Unlike holidays like, say, Easter or Thanksgiving, which fall on different dates each year, Halloween is and will always be on Oct. 31. Some years, you’re totally prepared with the perfect outfit and makeup to boot, but there are those few lost years where All Hallows’ Eve smacks you in the face like a hard […]

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Creative iPhone X Facial Scanner Halloween Costumes That’ll Really Creep You Out | Elite Daily

Creative iPhone X Facial Scanner Halloween Costumes That’ll Really Creep You Out | Elite Daily

As you probably know, the iPhone X release is just around the corner (Nov. 3, to be exact). Along with the new phone comes quite the hefty price tag. If you’re opting to pay next month’s rent instead of upgrading your iPhone, you might think that you’ll be missing out on the latest technology. Thankfully, […]

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Best Halloween Costumes for Dogs: Top Pet Costume Ideas | Time

Best Halloween Costumes for Dogs: Top Pet Costume Ideas | Time

We sure do love our pets: We let them sleep in the bed, serve them gourmet chef-worthy meals, and give them new toys as fast as they can shred them. Especially when it comes to man’s best friend, America has a serious spending weakness. We spend an average of nearly $50 a year on dog […]

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Ohioans spend the least of any state in the country on Halloween candy, analysis says | WCPO Cincinnati, OH

Ohioans spend the least of any state in the country on Halloween candy, analysis says | WCPO Cincinnati, OH

A new analysis by Denver-based tech company Ibotta says people in the Buckeye State spend the least amount of money on Halloween candy nationwide. Shame on us. The analysis looked at 150,000 receipts for candy bought the week before Halloween in 2015 and 2016, revealing Oregonians as the most generous at Halloween, buying an average […]

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How Much Energy Can You Cram Into Your Halloween Candy? | WIRED

How Much Energy Can You Cram Into Your Halloween Candy? | WIRED

All candies are not equal; some might have more stuff in them that does not add to the total calorie value. But overall, there seems to be fairly nice correlation between candy mass and candy energy. From the graph, candy has an energy density around 22 megajoules per kilogram. But how does this energy density […]

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Swing pricing dampens outflows in underperforming funds | Fund Strategy

Swing pricing dampens outflows in underperforming funds | Fund Strategy

New analysis reveals swing pricing dampens outflows in underperforming funds as Vanguard and Jupiter become the latest asset managers to introduce the pricing model. In addition, swing pricing has a limited effect during stress episodes despite liquidity mismatch being one of the issues the model aims to address, the Bank of International Settlements research says. […]

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National Express strategy gets passengers all aboard | London Evening Standard

National Express strategy gets passengers all aboard | London Evening Standard

Ticket promotions helped National Express snare new passengers on its bus and coach routes in the third quarter, boosting company profits. The UK’s largest coach operator shrugged off the impact of terrorism and used strategic pricing to boost numbers in September, after a weak first half. Low fare zones in the bus division, which operates […]

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Edo Plans Ultra-Modern Bus Parks, Reviews Pricing Template for Road Projects | THISDAYLIVE

Edo Plans Ultra-Modern Bus Parks, Reviews Pricing Template for Road Projects | THISDAYLIVE

The construction of the ultra-modern bus parks will include a major bus park to be used for intercity and intracity commuters at Obakhavbaye as the use of Oba Akenzua Cultural Center as a bus station is only a temporal provision.” On road construction and rehabilitation across the state, Engr. Amiolemen said “the state government has approved […]

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Coming soon to a theater near you: Surge pricing for movies | CNN Media

Coming soon to a theater near you: Surge pricing for movies | CNN Media

Would you go see “Geostorm “or “The Snowman” — two box office duds that were savaged by critics and have abysmal scores on Rotten Tomatoes — if you didn’t have to pay full price to watch them in an empty theater? Regal Cinemas (RGC), one of the largest movie theater chains in the United States, […]

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Price Elasticity Shifts Mean New Revenue Opportunities and Risks for Retailers and Brands | PointofSale.com

Price Elasticity Shifts Mean New Revenue Opportunities and Risks for Retailers and Brands | PointofSale.com

Childrenswear shows opportunities to increase prices in sleepwear but be cautious of high-priced bottoms Research shows that while overall sales of childrenswear are falling, some brands and retailers are seeing significant growth. This is in line with First Insight’s report which found that elasticity is falling along with pricing. Sleep/loungewear in particular has shown declining […]

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GNC Shows Q3 Profit with New Model | Whole Foods Magazine

GNC Shows Q3 Profit with New Model | Whole Foods Magazine

Pittsburgh, PA – Just six weeks into the job, GNC Holdings CEO Ken Martindale expressed optimism about a turnaround with unique products and services in the pipeline for 2018 and the ability to market them better during his first call with analysts reporting same store third-quarter sales up 1.3% in company-owned stores. “It is clear […]

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Monro CEO Lays Out 5 Ways to Improve Store Traffic | Modern Tire Dealer

Monro CEO Lays Out 5 Ways to Improve Store Traffic | Modern Tire Dealer

1. Store operations. Ponton says the company will “establish a standard in our appearance, store layout, merchandise strategy and in-store experience so every store across our chain can offer the same best –in-class customer service.” It will start with “simplifying our selling approach” and optimizing Monro’s product mix with a clearly defined strategy of good, […]

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AdTheorent® Launches “Cost Per Incremental Visit” Ad-Pricing Model | Business Wire

AdTheorent® Launches “Cost Per Incremental Visit” Ad-Pricing Model | Business Wire

NEW YORK–(BUSINESS WIRE)–AdTheorent, Inc., an advertising technology company using data, predictive analytics and machine learning to provide competitive advantages to marketers as measured by real-world business outcomes, today announced the launch of a new Cost Per Incremental Visit (“CPIV”) ad-pricing model. The goal of AdTheorent’s CPIV model is to optimize and drive incremental visits to physical […]

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4 Ways You Could Be Incorporating Artificial Intelligence Into Your Marketing Strategy | Entrepreneur

4. Pricing Finally, another huge opportunity for AI-savvy marketers is the possibility of dynamic pricing. As digital content manager Robert Allen has wisely commented on LinkedIn: “Discounts are extremely powerful, but they can also hurt your bottom line . . . sales are so effective because they get people to buy your product that previously […]

 

Toys R Us Bankruptcy Casts Its Shadow on Hasbro and Mattel Earnings | The Motley Fool

Toys R Us Bankruptcy Casts Its Shadow on Hasbro and Mattel Earnings | The Motley Fool

But you have kids now these days, busier than ever. There’s less playtime. Children are turning to smartphones and electronics at really young ages, which means less of the traditional action figures, puzzles, and games at Toys R Us has previously featured heavily in their stores. But at the same time, the bankruptcy, I think it’s […]

 

Four pricing mistakes you need to avoid   | Dynamic Business Australia

Four pricing mistakes you need to avoid   | Dynamic Business Australia

One: The first mistake entrepreneurs and new businesses make is they often give too little thought to this highly complex matter and the consequences can be dire. Set your prices too low and you are leaving money on the table. Set your prices too high and nobody will buy your product or service. The right […]

 

Viewpoint: Uber endangers public safety with fare spikes | USA TODAY College

Viewpoint: Uber endangers public safety with fare spikes | USA TODAY College

While apparently sincere, that apology represented a complete turnaround from Dec. 14, when @Uber_Sydney tweeted, “fares have increased to encourage more drivers to come online & pick up passengers in the area.”  With its oscillating messages, it appears as though Uber was playing public opinion like a chess game. In fact, drivers are the last […]

 

Profit Optimization is Not Just a Buzz Phrase for Room Revenue | Hospitality Net

Profit Optimization is Not Just a Buzz Phrase for Room Revenue | Hospitality Net

To better maximize revenue opportunities from meetings and events spaces, savvy hoteliers have looked to try and fold revenue management strategies into sales and catering processes. However, despite the positive evidence to support an integrated approach to sales, catering, meetings and revenue management, there hasn’t been a strong call for technology beyond sales and catering […]

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Amazon, Google and Microsoft Earnings Reports Show Growth | Fortune

Amazon, Google and Microsoft Earnings Reports Show Growth | Fortune

The cinema business is thinking about experimenting with dynamic pricing, as Bloomberg reported this week. Dynamic pricing—charging more when goods and services are in high demand and short supply and less when the opposite is true—isn’t new. Gasoline retailers, hoteliers, and airlines have been deploying the technique for years. Uber did it too—to great success […]

 

Best Buy is charging an extra $100 for the full-price iPhone X | Chicago Tribune

Best Buy is charging an extra $100 for the full-price iPhone X | Chicago Tribune

“Our prices reflect the fact that no matter a customer’s desired plan or carrier, or whether a customer is on a business or personal plan, they are able to get a phone the way they want at Best Buy,” Danielle Schumann, a company spokeswoman, said in an email. “Our customers have told us they want […]

 

Audio: What’s up? More SoCal homes going for asking price | 89.3 KPCC

Audio: What’s up? More SoCal homes going for asking price | 89.3 KPCC

In California’s hot housing market, many buyers expect they’ll need to bid above the list price. But a growing number of homes are actually selling at what owners are asking. Homes that went for the list price made up the biggest share of sales in September: 43 percent, up from 29 percent a year ago, […]

 

Cheaper travel: Flexi-fare on trains to be revised | Oneindia

Cheaper travel: Flexi-fare on trains to be revised | Oneindia

Once the new system is in place, then half the passengers who book early will get an advantage of a cheaper fare. The aim of the flexi-fare system was to generate additional revenues and reduce cross-subsidisation from freight. Further the Railway Board is also contemplating a flat increase in fares on premium trains as on […]

 

Craigslist – Apple iPhone X Prices Soar To Over $2,000 A Piece | ValueWalk

Craigslist – Apple iPhone X Prices Soar To Over $2,000 A Piece | ValueWalk

In previous posts on ValueWalk, I had suggested that as long as Apple could not supply enough phones to meet the demand at its announced prices, it should charge a few hundred dollars more to buyers who were willing and able to pay a higher price to avoid waiting months for their phones. Following that […]

 

China challenging U.S. dollar by pricing oil in yuan | Digital Journal

China challenging U.S. dollar by pricing oil in yuan | Digital Journal

As a result of the U.S. dollar being used to price and trade oil there is a huge demand for U.S. dollars, giving the U.S. great economic and strategic power. China is reported to be setting up a futures market using its own yuan currency and also will introduce an oil benchmark priced in yuan […]

 

McDonald’s rebounds with Easterbrook’s low-price McPick strategy | Crain’s Chicago Business

McDonald’s rebounds with Easterbrook’s low-price McPick strategy | Crain’s Chicago Business

Sounds a lot like the formula behind McDonald’s last great turnaround. Its Dollar Menu lifted the chain out of a slump in the early 2000s and enabled the Oak Brook company to outpace rivals in comparable-store sales from 2004 through 2011. Along the way, McDonald’s trotted out salads and other healthier menu offerings, as well […]

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Featured Content and Events

Bright Price Market Dynamics – Get a powerful solution to effectively optimize and analyze price data in SAP | SPOSEA

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Dynamic pricing solution for Geo-Targeted Price Optimization The Right Price All Over the World DYNAMIC PRICING Our Dynamic pricing software combines real- time market analyses with intelligent price optimization techniques. The optimal pricing strategy will boost your traffic, sales and profits. EXIT INTENT TECHNOLOGY Our Exit Intent technology uses refined behavioral analysis techniques to trigger […]

 

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

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“Pricing is the moment of truth – all of marketing strategy comes to focus on the pricing decision.”

     – Raymond Corey

 


 

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