This Week in Pricing > 1/20/18

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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Strategic Pricing Solutions

Strategic Pricing Solutions, LLC (SPS) is a management consulting firm helping clients with pricing strategies, data analytics, and pricing processes. SPS was formed by Scott Francis in 2005 with a vision of enabling B2B clients to build sustainable strategic pricing capability to significantly improve their profitability. By providing flexibility in how we serve our customers, SPS consulting enables clients to build sustainable strategic pricing capability and continuous improvement in profitability through better pricing decisions.

Click a link below to learn more…

 

 

Top Headlines

Pricer’s Points: Why you spend more when prices end in .99 | Kent Hendricks

Pricer’s Points: Why you spend more when prices end in .99 | Kent Hendricks

I once worked at a company that priced everything with a .95 ending. The bestselling software package was $999.95. Add-on products were $9.95, or $19.95, or $49.95. Everything ended with a .95. It had been this way for more than twenty years. One day, one of the VPs suggested we change all prices to end […]

Manchester United hit back in Sevilla ticket price war by charging away fans £89 for Old Trafford match | The Independent

Manchester United hit back in Sevilla ticket price war by charging away fans £89 for Old Trafford match | The Independent

Manchester United will charge Sevilla supporters £89 to attend their side’s Champions League last-16 match at Old Trafford in March and use the money raised to refund their own supporters. Sevilla were heavily criticised in December when it was revealed that United fans travelling to the Ramon Sanchez Pizjuan on 21 February would be forced to pay between […]

 

EU watchdog says pricing at derivatives reporting firms too opaque | Reuters

EU watchdog says pricing at derivatives reporting firms too opaque | Reuters

TRs can be accessed by regulators to see who is behind each trade. The aim is to apply lessons from the financial crisis when Lehman Brothers collapsed but it took time to find out who was exposed to the bank’s derivatives trades. ESMA reviewed fees charged by the TRs and in its report published on […]

 

Why are concert tickets so expensive? | The NewDaily

Why are concert tickets so expensive? | The NewDaily

Live music is supposed to be fun, right? The image is wild and free. But concert ticket prices have risen to incredible highs. Hot acts coming to Australia in 2018 are pricing tickets so high it’ll make your eyes bleed. Bruno Mars wants $591 for the top-level tickets to his show. Katy Perry, meanwhile is […]

Why Did Cryptocurrency Prices Just Drop? | UPROXX

Why Did Cryptocurrency Prices Just Drop? | UPROXX

We’ve been talking (and joking) a lot lately about whether or not cryptocurrency is a bubble, what with prices surging for even joke currency Dogecoin and companies reaping higher stock prices whether they’re actually involved in blockchain technology or not, from an ice tea company that just added the word “blockchain” to its name to […]

 

Luxury London Restaurant Will Tailor Pricing According to Customer Demand | Eater London

Luxury London Restaurant Will Tailor Pricing According to Customer Demand | Eater London

It’s a bold move from an institution clearly aware of its status, willing to compromise something of its exclusivity, as owner Leonid Shutov notes: “To stay competitive, we need to be able to serve people a fantastic lunch without charging ridiculous prices … One of the ways of doing that is ensuring a more even […]

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Xconomy: Spark CEO Marrazzo on Gene Therapy Pricing & Paving the Way for the Field | Xconomy

Xconomy: Spark CEO Marrazzo on Gene Therapy Pricing & Paving the Way for the Field | Xconomy

In early January, the company announced Luxturna’s price and a deal with New England insurer Harvard Pilgrim Health Care on a plan that includes rebates tied to the drug’s durability. In a departure from typical practices, Spark will sell the therapy directly to Harvard Pilgrim, not the medical center doing the procedure, which avoids potential […]

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Why Apple Is Still A Great Marketer And What You Can Learn | Forbes

Why Apple Is Still A Great Marketer And What You Can Learn | Forbes

4. Control Pricing. Have you ever seen new Apple products with deep discounts during Black Friday or Cyber Monday? Apple’s marketers leverage pricing—with very little discounting– as a tool to convey the brand in the same way as luxury retailers. This strategy extends to the microcosm of Apple retailers, dealers, and resellers, where Apple uses […]

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Cuomo says tolls can be placed on ‘any block’ in NYC | New York Post

Cuomo says tolls can be placed on ‘any block’ in NYC | New York Post

Gov. Andrew Cuomo, who is mulling a congestion pricing plan in Manhattan, said Monday the state is capable of placing tolls anywhere in the Big Apple. “We have the ability with technology to put tolling anywhere in the city — it’s not just the bridges, it’s just a gantry with a license plate reader that […]

Bitcoin, Ethereum, Ripple, cryptocurrency prices fall on January 16 | Business Insider

Bitcoin, Ethereum, Ripple, cryptocurrency prices fall on January 16 | Business Insider

Crypto prices in these markets typically carry a premium, which pushes up average prices globally. Traders in these Asian markets are generally buyers too, meaning a tail-off in activity could create a big mismatch in buyers and sellers. “The volumes have been declining steadily both in Japan and South Korea over the last few days,” […]

 

Bitcoin price LIVE: Bitcoin crash likely as yet ANOTHER hack attack rocks cryptocurrencies | Express.co.uk

Bitcoin price LIVE: Bitcoin crash likely as yet ANOTHER hack attack rocks cryptocurrencies | Express.co.uk

8.44am – UPDATE – Is bitcoin’s price controlled by bad actors? Bitcoin $12,080. Ethereum $1,068. Ripple $1.34. A shocking new academic study has revealed that so-called “bad-actors” manipulated bitcoin’s price, pushing it from $150 to $1,000 during periods of frenetic trading. The paper titled Price Manipulation in the Bitcoin Ecosystem shows how Bitcoin markets are being manipulated […]

 

 

More Headlines

Brace for costly Uber & Ola rides as K’taka ups base taxi fares | Moneycontrol.com

Brace for costly Uber & Ola rides as K’taka ups base taxi fares | Moneycontrol.com

The notification also prescribed a fixed charge for waiting – free for the first 20 minutes, and Rs 10 for every 15 minutes thereafter. Cars costing between Rs 5 and 10 lakh will attract a charge of Rs 52 for first four kilometres, with the same slab of dynamic pricing as in small car category. […]

 

Cabs to cost more as govt sets new minimum fare | Bangalore Mirror

Cabs to cost more as govt sets new minimum fare | Bangalore Mirror

Commuters who opt for cabs will have to pay more from their pockets as the state government has fixed a minimum fare of Rs 44 on small cabs and Rs 80 for luxury cabs for the first four kilometres. The government has issued an order to Karnataka State Transport Authority and all regional transport authorities […]

 

Singapore Airlines: A new way to fly, Opinion News & Top Stories | The Straits Times

Singapore Airlines: A new way to fly, Opinion News & Top Stories | The Straits Times

SIA has responded in several ways, the most significant being the launch of budget carrier Scoot in 2012 to give the group a presence in the medium-and long-haul low-cost market. In a sector that SIA, with its higher costs, is ill equipped to compete in, the need for Scoot is clear. What is not always […]

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Gem Reports Finding Fifth-Biggest Diamond in History | The Market Mogul

Gem Reports Finding Fifth-Biggest Diamond in History | The Market Mogul

One of the biggest diamonds in history has been dug up in the Kingdom of Lesotho, Southern Africa. The diamond has been valued at 910 carats and described as of “exceptional quality”. At roughly the size of two golf balls, it is the fifth biggest diamond ever found. The stone was found at the Lestseng […]

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Save on take-out during off-peak hours with Feedback | NOW Magazine

Save on take-out during off-peak hours with Feedback | NOW Magazine

What are your goals for this project?  Josh Walters: Feedback is an app designed to offer customers great food from restaurants at a fraction of the normal price, while helping restaurants reduce their waste. It does this by offering exclusive time- and quantity-specific deals through an app at over 100 Toronto restaurants. The deals range from 20 to […]

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Food inflation helps UK grocers to deliver record Christmas sales but caution remains over general merchandise| proactiveinvestors

Food inflation helps UK grocers to deliver record Christmas sales but caution remains over general merchandise| proactiveinvestors

Morrisons takes top spot WM Morrisons PLC (LON:MRW) was next up and it reported a 2.8% rise in sales in the 10 weeks to 7 January on the back of efforts to improve customer service and offer competitive prices. That pricing strategy will almost certainly have hurt margins, as the company said the price of […]

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Audi opens reservations with deposits for its two new e-tron vehicles (quattro and sportback) in more markets | Electrek

Audi opens reservations with deposits for its two new e-tron vehicles (quattro and sportback) in more markets | Electrek

Despite opening reservations in several markets, they haven’t confirmed the price. They have been saying that the e-tron quattro is between Audi Q5 and Audi Q7 in term of size and those vehicles have starting MSRPs of $41,000 and $49,000. If the e-tron quattro is offered around the same price before incentives, it would shake up […]

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Fuel pricing: Kachikwu’s desperate options – Henry Boyo | Vanguard News

Fuel pricing: Kachikwu’s desperate options – Henry Boyo | Vanguard News

In retrospect, Kachikwu had, infact, told reporters in Abuja on 15th December 2015, that “fuel price would no longer be fixed” and also noted that “the price of crude would continue to determine what petrol price will be”. It is instructive that Kachikwu’s statement on fuel price ‘deregulation’, was made at a time when crude […]

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Diesel Prices Burn Holes in Pockets on Account of Firming Crude Oil Price in the Indian Basket | News18

Diesel Prices Burn Holes in Pockets on Account of Firming Crude Oil Price in the Indian Basket | News18

Fuel prices are now dynamic and unregulated which means prices change on a daily basis based on the crude oil rates and the demand and supply mechanism. Under dynamic, or real-time, pricing, price of a product can vary as fixed by individual retailers across locations and duration of the day. Retail fuel prices in the […]

 

Has surging crude oil brought politics back to energy pricing? | Livemint

Has surging crude oil brought politics back to energy pricing? | Livemint

Fuel prices in India have remained range-bound in the past six months although crude oil has surged, indicating that state-run retailers are mindful of the political impact of rising fuel prices, although they have the freedom to revise rates daily, in line with changes in crude prices. Petrol prices in Delhi rose by about 6% […]

 

Review Of January 2018 First Pricing-Window: Fuel Prices To Rise Between 3 And 5% | Modern Ghana

Review Of January 2018 First Pricing-Window: Fuel Prices To Rise Between 3 And 5% | Modern Ghana

World Oil Market Prices Crude Oil prices continue to surge on the global commodity market, as Brent crude price currently averages at $67.70 per barrel, from a previous average of $63.78 per barrel, a rise of 6.12% within the last 14 days. Presently, Brent crude is selling at $69.87 per barrel; the highest price since […]

 

Iron ore’s market pricing dynamic is somewhat divorced from underlying fundamentals | BusinessDay

Iron ore’s market pricing dynamic is somewhat divorced from underlying fundamentals | BusinessDay

Launceston, Australia — Imagine for a moment that iron ore was still priced the way it was for decades — in closed-door meetings between miners and steel makers — and then try to visualise what the current level would be. Whatever number you may have come up with, it’s unlikely to be anything close to […]

 

Should the new Kia Cerato feature autonomous emergency braking? | Drive

Should the new Kia Cerato feature autonomous emergency braking? | DriveKia Australia Managing Director, Damien Meredith, told Australian media that “the need to put AEB into your base models is nearly compulsory”, however, sneaking it into a model priced under $20,000 may be a tough ask. “We will try very, very hard to have a Cerato in at $19,990 whether it be manual or auto […]

 

The minuscule system of pricing | Down To Earth

The minuscule system of pricing | Down To Earth

THE AGRICULTURE market cannot be explained by the simple principle of supply and demand. Rather, it is a devilish interplay of many vested interests that turn a blind eye to farmers’ concerns. There are more dubious players in the ubiquitous mandis or agriculture markets across India than in any other commodity markets. Both local political […]

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Why Airfreight Traffic Is Up: Dog Food and Semiconductors Are Vying for Space | WSJ

Why Airfreight Traffic Is Up: Dog Food and Semiconductors Are Vying for Space | WSJ

Companies are shipping more items by plane to meet customers’ rising expectations for rapid delivery, prompting a scramble for cargo space that has sent airfreight rates soaring and pushed Amazon.com Inc. and others into the airline business. Global airfreight traffic climbed almost 9% year-over-year in November, the start of the peak shipping season, and rates […]

 

The marriage of RM & merchandising: a logical next step for airlines | EyeforTravel

The marriage of RM & merchandising: a logical next step for airlines | EyeforTravel

The notion of ‘right product, at right time and at right price’ may be something airlines understand only too well but they still aren’t getting it right. Tom Bacon has some suggestions … However, despite consensus that there is a huge new opportunity, true personalisation remains elusive. Some of the problems include: · Airlines still […]

 

Comcast varies internet service price by region, Harvard study concludes | FierceCable

Comcast varies internet service price by region, Harvard study concludes | FierceCable

Leaving it to the best and brightest to confirm what we already suspected, a new Harvard University study concludes that consumers pay less and have more pricing transparency when they subscribe to municipal broadband services. The study, conducted by Harvard’s Berkman Klein Center for Internet and Society, also concludes—at least to a degree—that Comcast varies […]

 

Montgomery Co. beer and wine sellers: Department improving, needs more changes | WTOP

Montgomery Co. beer and wine sellers: Department improving, needs more changes | WTOP

“We changed not only our pricing strategy but our product strategy as well,” said Dorfman. Far fewer wines are being put on sale, but the sale prices are more significant than the broadly discounted prices of the past. Private sellers complain that the DLC price strategies are unfair, with county stores selling some wine brands close to […]

 

Apple’s iPhone 7 Plus Was China’s Second Best-Selling Smartphone in 2017 | Mac Rumors

Apple’s iPhone 7 Plus Was China’s Second Best-Selling Smartphone in 2017 | Mac Rumors

Apple was the only foreign brand in China’s 2017 market top 10, according to the research, thanks to the success of its iPhone 7 series. An uptick in sales in the second half of the year was reportedly due to the implementation of price cuts, which increased Apple’s competitiveness against lower-cost local brands. For example, […]

 

BMW to charge drivers $80 per year for CarPlay access in 2019 | Apple Insider

BMW to charge drivers $80 per year for CarPlay access in 2019 | Apple Insider

Currently, BMW offers CarPlay as a $300 option on car models with built-in navigation systems. Starting next year, however, BMW owners will need to pay $80 per year for the luxury, reports The Verge. Don Smith, technology product manager for BMW North America, revealed the new pricing strategy at the Detroit Auto Show on Tuesday, […]

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Bruce Springsteen Saves Broadway Box Office From Winter Freeze | Forbes

Bruce Springsteen Saves Broadway Box Office From Winter Freeze | Forbes

After a planned break from his incredibly successful gig on Broadway, Bruce Springsteen returned to the stage this week – and brought a windfall with him. His show, Springsteen On Broadway (natch), racked up $2.4 million in sales, which is par for the course since it opened in October. Playing just five times a week, it […]

 

Can dynamic pricing be a headache for brands? | Econsultancy

Can dynamic pricing be a headache for brands? | Econsultancy

But the thing that really stood out about the activity was this: there were no price tags in-store. Visitors to the pop-ups had to scan a product on the Amazon app in order to find out the price. Easy to see how this benefits Amazon. Not so easy to see how it benefits shoppers, or […]

 

Ram Redesign Improves Fiat Chrysler’s Shot at Luxury Prices | Bloomberg

Ram Redesign Improves Fiat Chrysler’s Shot at Luxury Prices | Bloomberg

If you hadn’t noticed, Ford, Chevy and Ram pickups are now priced a lot more like luxury cars. They still have to work, and the people who buy them obsess over towing, payload and durability to make sure they get their money’s worth. But a growing number of trucks also feature the kinds of comfort, […]

 

Taxi concerns persist amid record year for tourism | Cayman Compass

Taxi concerns persist amid record year for tourism | Cayman Compass

Tourism businesses remain concerned about inconsistent pricing and lack of a reliable nighttime service from taxis. The Cayman Islands Tourism Association is also asking government to “revisit” the policy of allowing drivers to charge an additional 20 percent per passenger when there are more than three people in the cab. Concerns over pricing were raised […]

 

Accounting Firm Fees: Increasing Pricing With Current Clients | Firm of the Future

Accounting Firm Fees: Increasing Pricing With Current Clients | Firm of the Future

Top-Down Pricing You can also set top-down pricing by starting with total client savings or the perceived value of the project. One of the easiest examples of this in the QuickBooks® consulting world is when you acquire a client who needs to downsize his or her accounting system. Let’s say the owner is paying $20,000 […]

 

Upscale London Restaurant Implements ‘Surge Pricing’ | MUNCHIES

Upscale London Restaurant Implements ‘Surge Pricing’ | MUNCHIES

You know that awful feeling you get when a certain ride-sharing app unilaterally changes the price of your late-night trip home from the bar? It’s a sense of betrayal symptomatic of the modern age, when a smartphone program that you’ve come to rely on tells you that you’re either a sucker or stranded. Well, a […]

 

Website, app for I-66 tolls failed to display price, some drivers paid $39 for trip | The Washington Post

Website, app for I-66 tolls failed to display price, some drivers paid $39 for trip | The Washington Post

Michelle Holland, a spokeswoman for VDOT, said there was a “maintenance issue” that a vendor, Transcore, which operates the tolling system, had with the system. The tolls are in place along a roughly nine-mile stretch of I-66 inside the Beltway, operating on a dynamic pricing system that changes every six minutes based on demand. Since […]

 

Varying fuel costs at pumps raise doubts about owners | Times of India

Varying fuel costs at pumps raise doubts about owners | Times of India

PUNE: Citizens are foxed by the difference in fuel prices at various pumps in Pune on any given day and time. City-based businessman, Prasanna Parmar, said he visits the pumps affiliated to all three state-owned oil companies before deciding where to refuel his vehicle. “The prices of petrol and diesel at Hindustan Petroleum Corporation Limited […]

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Featured Content and Events

EU Pricing Summit 2018 - IQPC

European Pricing Summit 2018 | Finance iQ

Date: April 16-18, 2018

Location: TBD in London, England

The advent of disruptive technology, growth of e-commerce and increasing competition from global markets are just a few of the reasons why leading companies are spending time and money to develop a pricing strategy that works.

Many pricing leaders are wondering what direction to take their pricing strategy in and want to benchmark with other organisations to decide what is the most profitable option. But KPIs and pricing models are almost always confidential, and the majority of organisations are unwilling to disclose the facts and figures that the industry needs. The industry has a dilemma where practitioners want to have insights on new developments in strategies, but they are usually subject to commercial secret.

Given this situation, IQPC will be launching a limited-access, confidential mentoring panel as part of our European Pricing and Commercial Excellence Summit to enable our clients to obtain first-hand tips from our mentors to assist them in creating the most profitable pricing strategy.

 

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29th Annual Spring Pricing Workshops & Conference | PPS

Date: May 1-4, 2018

Location: Loews Chicago O’Hare Rosemont Hotel in Chicago, IL

We are excited to announce we’ll be in Chicago, IL for our 29th Annual Spring Pricing Workshops & Conference May 1-4, 2018!

You can register now and take advantage of our Early Bird Offer (Buy 2 Get 1 Free, expires March 23rd).

 

Certification: Certified Pricing Professional (CPP)

Certification: Certified Pricing Professional (CPP)

The Certified Pricing Professional (CPP) designation is the standard for advanced knowledge and expertise in the field of Pricing. Since 2003, over 900 individuals have taken courses in pricing through Professional Pricing Society and pass their exam to earn the CPP designation. The CPP indicates knowledge and skill in pricing across industries. We also offer the industry standard professional pricing certification via and live Workshops hosted during our conferences around the world. We can help you develop a personal pricing education roadmap to give you the exact tools your need based on your industry and professional background.

Featured Jobs

We will be launching a Pricing Niche Job Board soon, stay tuned!

 

Title: Senior Pricing Analyst

Company: ROCKWOOL North America 

Location: Chicago, IL, US

Seniority: Mid-Senior level

Click here for more

 

Title: Pricing Analyst

Company: Anixter

Location: Glenview, IL, US

Seniority: Not Applicable

Click here for more

 


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

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“Pricing decisions are not easy to make; they are often inherently ‘soft’.”

     – William E. Johnson

 

Pricing Resources

Pricer’s Points Blog Series

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.

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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.

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Pricing News LinkedIn Group

Join 1,000’s 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.