This Week in Pricing > 2/10/18

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: PPS Logo

 

 

 

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

Trump Will Reduce Prescription Drug Prices | Newsmax.com

Trump Will Reduce Prescription Drug Prices | Newsmax.com

President Trump announced during his State of the Union address that one of his greatest priorities is to reduce the price of prescription drugs. This is a topic that I have written about many times before, but in a limited fashion. Considering President Trump’s specific call to this issue, I thought a more thorough explanation […]

 

Bitcoin price: Here’s why Bitcoin is PLUMMETING today | Express.co.uk

Bitcoin price: Here’s why Bitcoin is PLUMMETING today | Express.co.uk

Bitcoin is having a bad year as it plummeted to a two month low of $7,8989.07 on Friday, according to CoinDesk.com. The cryptocurrency fell 11.75 percent to $7,989.07 at 12:09 in London. The global cryptocurrency market has had over $100 billion was wiped off the global cryptocurrency market in 24 hours on Friday. The total market […]

 

Bureaucrats, not doctors, are making healthcare so expensive | Washington Examiner

Bureaucrats, not doctors, are making healthcare so expensive | Washington Examiner

This bureaucracy also distorts necessary healthcare price signals at best, and engages in outright price fixing at worst. Clear and unfettered price signals would help keep prices down because they convey vital information for patients and providers. In a free market, a high price for avocados sends the message that first, avocados should be economized […]

 

Netflix adds a record 8 million subscribers | CNN tech

Netflix adds a record 8 million subscribers | CNN tech

The company’s stock popped over 8% in after hours trading Monday following the earnings report. If those gains hold, Netflix would open Tuesday at a new all-time high and top a $100 billion market cap for the first time. Shares of Netflix soared more than 50% in 2017, and have continued to rise in the […]

 

Amid debate over EU consumer price regulation, Visegrad Group staying the course | News Europe

Amid debate over EU consumer price regulation, Visegrad Group staying the course | News Europe

Consequently, the EC’s position on retail price regulation (along with capacity markets) calling o the Member States to limit and eventually abolish them altogether should not come as a surprise. The core argument is that regulated prices tend to be artificially low, reducing the scope of market competition and consumer switching, and dissuading private investment. […]

 

Super Bowl fans can expect high prices for trip to Minneapolis | Curbed

Super Bowl fans can expect high prices for trip to Minneapolis | Curbed

Crazy Airbnb prices have been getting a good laugh in the media leading up to the Super Bowl for a few years now, but even funnier, those opportunistic listings almost always go unbooked. Beyond Pricing, a tech company that uses data to help Airbnb hosts price their listings, says it usually sees a surge of […]

 

A Better Way to Disrupt Health Care | Bloomberg

A Better Way to Disrupt Health Care | Bloomberg

Amazon, Berkshire Hathaway and JPMorgan Chase say they’re putting their heads together to make health care better and less expensive for their employees. Just possibly, it’s a partnership that could disrupt the U.S. health-care system — in a good way. The market value of insurance companies and pharmacy-benefit managers dropped on the announcement, a sign […]

 

France Limits Supermarket Price Wars After Nutella Riots | Bloomberg

France Limits Supermarket Price Wars After Nutella Riots | Bloomberg

President Emmanuel Macron’s government Wednesday presented measures to rein in supermarket price wars in an attempt to strike a balance between farmers who claim they’re underpaid for their produce and consumers who are concerned with their purchasing power. The so-called “law for a balanced commercial relationship in the agricultural and food sector, and for healthy […]

 

Why lobster prices have stayed low in supply crunch | Undercurrent News

Why lobster prices have stayed low in supply crunch | Undercurrent News

The harvesters, processors and sellers of North American lobster are living in strange times indeed. Though the US and Canada, in 2017, saw their first decline in combined landings in nine years and global demand is continuing to surge, prices have managed to move forward by just a few inches. The price of whole live […]

 

FAS Russia questions transparency of flight ticket pricing | Realnoe Vremya

FAS Russia questions transparency of flight ticket pricing | Realnoe Vremya

The head of the Federal Antimonopoly Service (FAS) of Russia questions the fact that the pricing of flight tickets depends on automated systems ”We have definitely established that it is not automated” A careful look of the Antimonopoly Service turned to the airlines. The head of the FAS Russia, Igor Artemyev, at the ”government hour” […]

 

Paper: Pricing Best Sellers | Journal of Interactive Marketing

Paper: Pricing Best Sellers | Journal of Interactive Marketing

More reasons why online mass merchandisers are category killersOne of the great pleasures for book lovers of all ages is the opportunity to settle into a comfortable armchair amid the stacks of an expertly curated bookstore and peruse the pages of possible purchases. It’s an old story already that those opportunities are disappearing as online […]

 

 

More Headlines

Tigers’ Opening Day tickets selling at slow pace | The Detroit News

Tigers’ Opening Day tickets selling at slow pace | The Detroit News

Posey said there are other factors that are playing in to the lagging sales besides just the quality of the team. For starters, he said, the opponent isn’t a marquee one — it’s the Pirates, another rebuilding team who this offseason have traded stars Andrew McCutchen and Gerrit Cole. Opening Day also is on a Thursday, […]

 

 

Airlines for America and the National Propane Gas Association Seek Regulation to Ensure Equal Pricing and Transportation Access for Pipeline Shippers | Business Wire

Airlines for America and the National Propane Gas Association Seek Regulation to Ensure Equal Pricing and Transportation Access for Pipeline Shippers | Business Wire

Public information indicates that crude oil, natural gas liquid, and petroleum pipelines appear to have been engaged in offering preferential, discriminatory rates to their marketing affiliates not offered to non-affiliated shippers, and shared non-public transmission information with affiliated marketing entities. Such abuses violate the Interstate Commerce Act (ICA), the law intended to ensure that common […]

 

New app that lets you spin to choose restaurants debuting in Lynchburg | WSET

New app that lets you spin to choose restaurants debuting in Lynchburg | WSET

LYNCHBURG, Va. (WSET) – A new app, called Spotluck, is debuting in Lynchburg and developers hopes it will bring dynamic pricing to the restaurant industry with a “gamified spin.” The app pioneers real-time discounts that fluctuate based on day, time, weather and other factors that impact restaurant occupancy. Their software yields higher discounts on rainy […]

 

A hipster’s nightmare as avocado prices surge | The Daily Advertiser

A hipster’s nightmare as avocado prices surge | The Daily Advertiser

IT’S enough to make a millennial cry. Prices are soaring as demand for avocados has outweighed supply over the last month, causing a national shortage. In one of Wagga’s big supermarket chains Hass avocados are being sold for $4 each, and in capital cities prices have risen to almost $8 each. SUPPLY AND DEMAND: The high […]

 

 

Interview with Appear Here CEO Ross Bailey | Business Insider

Interview with Appear Here CEO Ross Bailey | Business Insider

Bailey had the idea for the business while running his own pop-up. He quit school at 16 to move from his home in Buckinghamshire to London and was involved in several entrepreneurial endeavours before running a temporary fashion stall in Soho to coincide with the 2012 London Olympics. He noticed that people were coming up […]

 

Bipartisan Support For Drug Transparency Bill Raises Hopes of Passage | The Lund Report

Bipartisan Support For Drug Transparency Bill Raises Hopes of Passage | The Lund Report

A scaled back version of a 2017 bill that sought to cap drug costs will instead follow a route successful in California, requiring drug manufacturers to explain big price increases Chris Gray Rep. Rob Nosse, D-Portland, has found bipartisan, bicameral support for legislation to improve the price transparency for pharmaceuticals, giving momentum to passage that […]

 

Government should introduce dynamic road-user pricing, says ACE report | Tax and Legislation News

Government should introduce dynamic road-user pricing, says ACE report | Tax and Legislation News

The Government should introduce dynamic road-user pricing which takes into account a driver’s journey, the time of day, congestion on the network, and even their financial situation, suggests a new report released today (January 24). Funding Roads for the Future, released by the Association for Consultancy and Engineering (ACE), says that the existing model based on raising […]

 

 

Getting the price right on parking | Connect Savannah

Getting the price right on parking | Connect Savannah

But then things changed. Time limits were eliminated, pricing was standardized. People reporting finding available spaces on blocks where it had been historically difficult to park on the street. What’s more, they were able to pay for extra time via a smartphone app. This resulted in a 17 percent drop in the number of tickets […]

 

Peeved by price gouging and shortages, hospitals will now make their own drugs | Ars Technica

Peeved by price gouging and shortages, hospitals will now make their own drugs | Ars Technica

In an interview with The New York Times, Intermountain Healthcare’s CEO, Dr. Marc Harrison, did not mince words. “This is a shot across the bow of the bad guys,” he said. “We are not going to lay down. We are going to go ahead and try and fix it.” The news—and furor—follows years of headlines, […]

 

Newegg Bundles Monitors And Motherboards With GPUs To Mask GeForce And Radeon Price Gouging | HotHardware

Newegg Bundles Monitors And Motherboards With GPUs To Mask GeForce And Radeon Price Gouging | HotHardware

Graphics card prices are insane right now, a direct result of the shortage created by cryptocurrency miners snatching up cards quicker than retailers than stock their shelves. This has led to huge markups on practically every mid-range and high-end GPU product, usually through third-party sellers. The solution? That is a point of debate, and interestingly […]

 

Consumers Beware: Amazon Monopoly Will Price Gouge | IBD

Consumers Beware: Amazon Monopoly Will Price Gouge | IBD

What do you stand to lose as Amazon’s retail competition crumbles? Purchasing power. When competition is eliminated, so too are incentives to keep prices low as a market disrupter. By destroying its competitors, Amazon is also extinguishing any repercussion traditionally associated with price increases — that is, a customer choosing a competitor instead of Amazon. […]

 

Met Changes 50-Year Admissions Policy: Non-New Yorkers Must Pay | The New York Times

Met Changes 50-Year Admissions Policy: Non-New Yorkers Must Pay | The New York Times

For the first time in half a century, visitors to the world’s largest cultural institution, the Metropolitan Museum of Art, will have to pay a mandatory admission fee of $25 if they do not live in New York State under a new policy that begins March 1, the museum announced on Thursday. The change reflects […]

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Are video games underpriced? | Gamasutra

Are video games underpriced? | Gamasutra

There is an intense debate in the gaming community at the time of writing over the price of AAA games, which has been stable at the %50 – $60 range for more than two decades. In those two decades, the gaming industry and the economy have changed considerably, and even our expectation as gamers of […]

 

The art of easing a city’s traffic gridlock | Smart Cities Dive

The art of easing a city’s traffic gridlock | Smart Cities Dive

One main framework — which will be used in New York — involves charging a flat toll during peak times; in some areas the toll is simply higher than at off-peak times, and in other areas no tolls are collected at all during off-peak times. The other main congestion pricing tactic is to incorporate variable pricing, in […]

 

ComfortDelGro cabbies’ earnings take a hit after joining UberFlash | TODAYonline

ComfortDelGro cabbies’ earnings take a hit after joining UberFlash | TODAYonline

Still, Mr Kiew, who drives in the day, said the service would be useful for drivers pulling the late shift from 4pm to 11pm because fares are subject to dynamic pricing where fares are higher when demand rises. His colleagues have seen fares rise between 2 and 2.4 times during the evening periods, or about […]

 

 

2018 Best in KLAS Taps Vendors for Claims Admin, Price Transparency | HealthPayer Intelligence

2018 Best in KLAS Taps Vendors for Claims Admin, Price Transparency | HealthPayer Intelligence

January 31, 2018 – The 2018 Best in KLAS report ranked the best vendor solutions for payer claims administration, care management, price transparency, and payer analytics based on five industry performance criteria. KLAS ranked vendor solutions based on sales and contracting, implementation and training, functionality and upgrade capabilities, and customer support. KLAS rankings included a mix of new and […]

 

GM profit beats estimates on cost-cutting, higher vehicle prices | The Globe and Mail

GM profit beats estimates on cost-cutting, higher vehicle prices | The Globe and Mail

General Motors Co on Tuesday posted better-than-expected quarterly results as cost-cutting and higher vehicle prices offset a double-digit decline in U.S. sales volume and said it expected 2018 would be a strong year globally and in North America, sending its stock up more than 1 per cent. Speaking to reporters, Chief Financial Officer Chuck Stevens […]

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Holiday surge comes at a cost for UPS | Seeking Alpha

Holiday surge comes at a cost for UPS | Seeking Alpha

UPS (NYSE:UPS) shows an increase of 11.2% in revenue during the holiday quarter, driven higher by a 21% jump in revenue for the supply chain/freight segment. Operating profit didn’t quite keep up with the pace of revenue growth, moving up 3.2% to $2.294B. Revenue in the U.S. Domestic segment was up 8.4% to $922M. Revenue […]

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How the Internet of Things (IoT) Will Change the Pricing of Things | BCG

How the Internet of Things (IoT) Will Change the Pricing of Things | BCG

Traditional product manufacturers face new and complex challenges in monetizing the services made possible by “smart” products. They will need to redefine who their customers are and how those customers value data-driven services. They will need to adopt pricing models unconventional in their industries—models that can accommodate various price levels and payment frequencies. And they […]

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Orderin, has teamed up with transportation network company, Taxify | IOL Lifestyle

Orderin, has teamed up with transportation network company, Taxify | IOL Lifestyle

Food delivery service, Orderin, has teamed up with transportation network company, Taxify, to expand and grow their customer base in South Africa. The partnership will offer incentives to customers and additional earning power to Taxify drivers. “It all comes down to scale, with more scale we can offer greater efficiency to our customers and reduce […]

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Prices of imported phones, LED panels, beauty care products may rise on custom duty hike | The Economic Times

Prices of imported phones, LED panels, beauty care products may rise on custom duty hike | The Economic Times

NEW DELHI: Experts may say it’s a budget aimed at the upcoming elections, but upwardly mobile urban consumers will have to pay more for almost everything they covet— from cranberry juice and iPhones to sunglasses and lipsticks —due to higher customs duty. Not just the long list of items on which finance minister Arun Jaitley […]

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Chicago startup Fixer.com is the Uber for home repair | Tech Startups

Chicago startup Fixer.com is the Uber for home repair | Tech Startups

Unlike Uber, all of their staff, “fixers,” as the company calls them, are full time employees. “All of our fixers, the handymen and handywomen we employ, are full-time employees with benefits,” said Evans, adding that Fixer will also offer equity stakes to employees at every level. Fixer.com’s mission is to offer superior customer experiences while we create […]

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Opinion: Inside the Senior Living Pricing Conundrum | Senior Housing News

Opinion: Inside the Senior Living Pricing Conundrum | Senior Housing News

You’d think that obtaining senior living pricing would be easy. Finding the price of a good or service is a pretty straightforward process in most markets. In retail, in hotels, in air travel, restaurants, even hair salons, pricing tends to be listed on the item for purchase or on a menu of services that are […]

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London restaurant adopts airline strategy: off-peak pricing | The Week Portfolio

London restaurant adopts airline strategy: off-peak pricing | The Week Portfolio

Top London restaurant Bob Bob Ricard is adopting a pricing strategy that has revolutionised the travel industry – varying prices depending on the time and day of the booking. The luxurious Soho eatery – which famously has ‘press for Champagne’ buttons at every table – is cutting à la carte menu prices by 25% at off-peak times: […]

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Ubisoft reverses Rainbow Six Siege price hike after backlash from angry fans | Newburgh Gazette

Ubisoft reverses Rainbow Six Siege price hike after backlash from angry fans | Newburgh Gazette

After player complaints, Ubisoft has backed away from earlier plans to essentially increase the price of Rainbow Six Siege ” s mid-tier edition by replacing the $40 “standard edition” with a $60 “advanced edition’. At the time, this didn’t seem like a good deal, as the Advanced Edition was $20 more expensive and only offered […]

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Uber and Lyft drivers go all out during Super Bowl to make some cash | Star Tribune

Uber and Lyft drivers go all out during Super Bowl to make some cash | Star Tribune

Surge pricing likely Whether or not drivers do well, customers likely will be shelling out big bucks. Surge pricing generally kicks in when demand rises and drivers are in short supply, like when the big game lets out. “We expect fares will be the highest directly following the game because people will be leaving celebrations […]

 

 

EU southern alliance on drug pricing expands | EURACTIV.com

EU southern alliance on drug pricing expands | EURACTIV.com

Yannis Natsis, Policy Manager at the European Public Health Alliance (EPHA), hailed the adhesion of Slovenia and Croatia in the group as a promising development. “With Beneluxa, the Valletta Declaration Group etc governments are simply getting organised. It is their response to the ‘divide and rule’ strategy pharmaceutical companies have been pursuing for years and […]

 

Super Bowl Ticket Prices Aren’t Falling and Fans Are Confused | Bloomberg

Super Bowl Ticket Prices Aren’t Falling and Fans Are Confused | Bloomberg

In years past, getting a good price on Super Bowl tickets wasn’t rocket science. Fans just had to wait until a day or two before kickoff, and prices inevitably dropped. Their patience was rewarded: tickets often cost thousands less than they had earlier in the week. That strategy no longer pays. As a result of […]

 

Celanese (CE) Hikes Prices of Acetyl Intermediates Products | Zacks.com

Celanese (CE) Hikes Prices of Acetyl Intermediates Products | Zacks.com

Celanese Corporation (CE – Free Report) is raising the list and off-list selling prices of acetyl intermediates products — Ethyl Acetate, MIBK and MIBC. The price hike is effective from Feb 1 or as contracts permit, and is incremental to any prior hikes announced by the company. In USA & Canada and Mexico & South […]

 

UPS Earnings: Investors, We Have an Amazon Problem | Barron’s

UPS Earnings: Investors, We Have an Amazon Problem | Barron’s

Keith Schoonmaker, director of industrial equities research at Morningstar, said he wasn’t surprised at the higher capex forecast since meeting surging online demand doesn’t come for free. In an email to Barron’s he said: “Even though UPS has tremendous capabilities, it didn’t have idle sorting facilities waiting for fantastic growth, and must expand to capture […]

 

 

Featured Jobs

Pcareers logo NEW

We will be launching a Pricing Niche Job Board soon, Pricing Careers is a unique pricing industry resource where exceptional pricing professionals separate themselves from the crowd and recruiters find the pricing skills/experience they need – stay tuned! 

 

Location: New York City, NY, US

Seniority: Mid-Senior level

Click here for more

 

 

ROCKWOOL North AmericaSenior Pricing Analyst | ROCKWOOL North America 

Location: Chicago, IL, US

Seniority: Mid-Senior level

Click here for more

 

 

Location: Lippstadt, Deutschland

Seniority: n/a

Click here for more

 

 

Pricing Analyst | IMPAQ International

Location:  Columbia, MD, USA

Seniority: Associate

Click here for more

 

 

Featured Resources and Events

 

European Pricing Summit 2018 | Finance iQ

EU Pricing Summit 2018 300x250Date: 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.

29th Annual Spring Pricing Workshops & Conference | PPS

640x240-Chicago-Co-Mark-banner-11.21aDate: 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.

 

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

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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

 

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