OnDemand WTP Pricing Research

This Week in Pricing > 12/8/18

TWIP is a digest of pricing focused news, thought leadership, events, jobs, training and certification resources for pricing professionals.

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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?

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On-Demand Value-based Pricing Research | 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. Almost all companies lose out on profits they should be earning as they either price themselves too low, leaving money on […]

 

MDM Classics: Grainger’s Pricing Woes | Modern Distribution Management

MDM Classics: Grainger’s Pricing Woes | Modern Distribution Management

W.W. Grainger is recognized as a leader in distribution e-commerce, but in 2017 the company realized that its traditional list price model might be deterring potential customers. In one of MDM’s most popular Premium articles of last year, Lee Nyari, managing partner of The Innovative Pricing Group, a consultancy offering strategic price management solutions for distributors, reported on Grainger’s […]

 

Uber Eats test lets restaurants trade discounts for ranking boost | TechCrunch

Uber Eats test lets restaurants trade discounts for ranking boost | TechCrunch

But what it did confirm is that the discounts for promoted placement test is live in India. “We’re always experimenting with ways to make it easier to find your favorite foods on Uber Eats,, according to a statement provided by an Uber spokesperson. The feature allows restaurants to create a bundled meal at a certain price […]

 

More Bad News From Apple As iPhone XR Price Slashed | Forbes

More Bad News From Apple As iPhone XR Price Slashed | Forbes

In the short-term, specifically through the rest of this calendar quarter, I don’t expect Apple to implement a direct price cut on the iPhone XR, iPhone XS, or iPhone XS Max to consumers. Although Tim Cook and his team are looking to move to services for more of its income, the “iPhone as a luxury […]

 

Red Dead Online players want Rockstar to change the game’s economy | Polygon

Red Dead Online players want Rockstar to change the game’s economy | Polygon

Others feel the pricing for in-game items is simply inconsistent and out of whack. “A gold wedding ring sells for $1.15,” a player said in another popular Reddit thread. “A can of baked beans costs $1.50.” This has led to jokes that shopkeepers are sitting on stacks of gold bars based on the high price […]

 

Gov. Brown extends price-gouging ban | The Press Democrat

Gov. Brown extends price-gouging ban | The Press Democrat

Gov. Jerry Brown has extended a program that seeks to protect renters by banning price gouging in eight counties devastated by the October 2017 wildfires. Brown signed the order on Wednesday before the ban was slated to end on Dec. 4. The new order will remain in effect until May 31. It caps annual rent […]

 

Oil prices surge on trade war truce, prospects for Russian output cuts | Fox Business

Oil prices surge on trade war truce, prospects for Russian output cuts | Fox Business

Oil prices surged more than 3 percent Monday on prospects for a cut in global output and hope that a ceasefire in the U.S.-China trade war will boost demand for the commodity. The U.S. benchmark crude oil, West Texas Intermediate, popped more than 5 percent early Monday before paring that gain. … But the more […]

 

Just What the Doctor Ordered: The Case for Drug Price Controls | Harvard Political Review

Just What the Doctor Ordered: The Case for Drug Price Controls | Harvard Political Review

Unlike many biological diseases, however, this tragic phenomenon has a readily identifiable cause and, potentially, set of cures. When patients who failed to fill out their prescriptions were asked to provide a reason for doing so in a 2017 NPR Health Poll, 67 percent of respondents cited high cost, a number which rose to a staggering […]

 

Two Digital Freight Brokers Focus on Price Transparency for Shippers | Transport Topics

Two Digital Freight Brokers Focus on Price Transparency for Shippers | Transport Topics

Digital freight brokers Convoy and Uber Freight have separately launched new tools intended to make pricing options for hauling loads more transparent for shippers. Convoy Shipper Platform 2.0 includes Market Outlook, which shows shippers current and future trends by region. Also, it adds a feature called Lane Network, which gives shippers real-time data about changes […]

 

GOP balks at Trump drug pricing plan | TheHill

GOP balks at Trump drug pricing plan | TheHill

Republican opposition is building to a proposal from President Trump to lower drug prices in Medicare. The rare break between Trump and Republican allies follows an aggressive step from the president in October that would tie certain Medicare drug prices to lower prices in other countries, a departure from the traditional GOP position. A coalition of […]

 

How Can Grocers Make Personalized Pricing Work? | Progressive Grocer

How Can Grocers Make Personalized Pricing Work? | Progressive Grocer

Just one generation ago, almost all groceries were sold in full-service traditional supermarkets; now such stores comprise less than half of the marketplace. Established industry retailers already pressured by long-standing competitors face another challenge as many of the non-traditional retailers now in the space are gaining competitive advantage and taking share by offering low prices. […]

 

Amazon undercuts Woolworths and Coles on food and grocery prices | AFR

Amazon undercuts Woolworths and Coles on food and grocery prices | AFR

Amazon’s assault on the $100 billion food and grocery market could reignite the battle between multinational food and grocery suppliers and Woolworths, which believes brand owners may be favouring the e-commerce giant with cheaper prices on brands such as Colgate, Huggies, Omo and Finish. After stepping up pressure on Woolworths and Coles by adding food and beverages to […]

 

Artificial Intelligence in Revenue Management [Podcast] | Perfect Price and PPS

Artificial Intelligence in Revenue Management [Podcast] | Perfect Price and PPS

Artificial Intelligence in Revenue Management In the latest #PricingPodcast by the Professional Pricing Society, Lisa Fisher, Senior Director of Marketing and Communications talks with Alex Shartsis, CEO of Perfect Price, about his presentation at the PPS 29th Annual Spring Pricing Workshop and Conference in Chicago. Alex will present a 45-minute discussion on Artificial Intelligence in […]

 

HHS implements long-awaited 340B drug price transparency rule | Healthcare Finance News

HHS implements long-awaited 340B drug price transparency rule | Healthcare Finance News

The Department of Health and Human Services will implement the long-delayed final rule for enforcing 340B drug ceiling price transparency, on January 1, 2019. The rule directs pharmaceutical manufacturers participating in the 340B drug pricing program to disclose the maximum per unit ceiling price that can be charged to 340B hospitals. Enforcement will be maintained […]

 

Sinemia brings back debit cards following complaints over fees | engadget

Sinemia brings back debit cards following complaints over fees | engadget

As MoviePass began to flounder amid mounting money woes, changing its model every few weeks and introducing new restrictions like surge pricing and limits on what films customers could see on any given day, rival Sinemia began to turn some heads. It offered a number of different plans, as opposed to MoviePass’ one, and while […]

 

U.S. Black Friday Sales See More Tradition, Less Frenzy | Seeking Alpha

U.S. Black Friday Sales See More Tradition, Less Frenzy | Seeking Alpha

U.S. consumers went out on Thursday, Nov. 22 – Thanksgiving evening – to shop for Black Friday deals, but it was not the same as previous years. A decade ago, shoppers rushed to the malls for doorbuster deals, and felt a sense of urgency to take advantage of the timely promotions before they disappeared. Today, […]

 

 

Ohio State Found An Awesome Way to Troll Michigan Fans With Beer Prices | 12up

Ohio State Found An Awesome Way to Troll Michigan Fans With Beer Prices | 12up

Outside of a few notable exceptions (the ​Atlanta Falcons​ come to mind) sports games have arguably the most criminally high ​markups in existence. At Ohio State they’re charging people $4 for a bottle of water and double that for some American beer. If you’re sporting maize and blue today, it could hurt your wallet a little but more thanks […]

 

 

Apple to defend high app fees [Video] | Yahoo! Finance

Apple to defend high app fees [Video] | Yahoo! Finance

Apple is being forced to defend itself after being sued over claims of price gouging in the app store Read complete article here: Apple to defend high app fees [Video].

 

 

 

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).

 

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.

 

On-Demand Training: Value-Based Pricing and Value Modeling: Theoretical & Practical Perspectives | PPS 

As part of his Ph.D. research, Stephan Liozu studied the organizational and behavioral factors influencing the firm transformation towards pricing excellence. Pricing excellence combines both dimensions of pricing orientation and pricing realization leading too superior pricing power and ultimately to superior firm performance. During his research explorations, Stephan Liozu studied in depth the value-based pricing methodology and one of the steps of this methodology called economic value modeling. This PPS Online Pricing Course will present the latest concepts, practices and tools related to both methodologies.

This Online Pricing Course will combine theoretical information as well as very practical recommendations on how to implement value-based pricing and conduct a value modeling process. Stephan will present a case study on how he was able to pilot and test his 5 C model of transformation in practice.

Stephan Liozu will also review the main concepts of pricing orientation and pricing realization. He will also present some of the latest concepts related to value-based pricing including some definitions, key success factors and potential barriers to adoption. The value modeling process will be discussed in great details and several examples of value models will be presented.

 

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“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