This Week in Pricing > 3/3/18

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: SPOSEA logo JPG

 

SPOSEA B.V.

SPOSEA B.V. drives increased profitability for SAP users by SIMPLIFYING SAP’s Price Data Optimization, Management and Execution. We provide the SAP ecosystem with enterprise-wide Price Management that increases margins through optimized prices. Our family of products includes BrightPrice Optimizer, BrightPrice Manager, BrightPrice DealManager, and BrightPrice MarketDynamics. We provide out of the box solutions for effectively managing Pricing in SAP. SPOSEA is headquartered in Eindhoven, the Netherlands, and has offices in San Francisco, California and Walldorf, Germany.

Click a link below to learn more…

 

Top Headlines

Nestle in Talks to End Supermarket Row as Pricing Pressures Build | US News

Nestle in Talks to End Supermarket Row as Pricing Pressures Build | US News

The spat is the latest sign of tension between retailers and suppliers. Manufacturers like Nestle, Unilever and Procter & Gamble are grappling with changing consumer tastes towards healthier food and independent brands. They try to offset that by selling more higher-priced items, but the retailers are reluctant to put up prices as they face their […]

 

Discussion: Personalised pricing could cost you dear | The Times

Discussion: Personalised pricing could cost you dear | The Times

While such strategies persist in used car showrooms and flea markets, they mostly went out of fashion in the developed world a few hundred years ago when fixed prices came along. Some think it started with department stores — Bennetts in Derby in the 18th century or John Wanamaker’s stores in Philadelphia the next. Others […]

Walmart’s Low-Price Strategy Breaks Down Online | RetailWire

Walmart’s Low-Price Strategy Breaks Down Online | RetailWire

Walmart is known for its commitment to low prices, but the company is discovering that shipping the lowest-priced products is making it tough to turn a profit with e-commerce. So, the chain has begun encouraging consumer package goods vendors to provide higher-priced items to sell on Walmart.com. Earlier in February, Walmart eCommerce CEO Marc Lore […]

White House advisers cite USC research as basis for potential drug price reforms | USC News

White House advisers cite USC research as basis for potential drug price reforms | USC News

White House advisory council has issued several recommendations for reining in U.S. prescription drug prices and costs, some of which stem directly from the work of the USC Leonard Schaeffer Center for Health Policy and Economics. Voters are increasingly concerned about rising drug prices and health care costs — to the point that two presidential […]

 

MultiBrief: Is dynamic pricing good for restaurants and hotels? | MultiBriefs

MultiBrief: Is dynamic pricing good for restaurants and hotels? | MultiBriefs

Does dynamic pricing really work? Referring back to the case of Bob Bob Ricard, a follow-up NPR report suggests that dynamic pricing works well for the restaurant. Ever since the restaurant implemented the new strategy, store traffic during the “normal” quietest times has nearly doubled. While the average check for two guests in the restaurant […]

 

Lawmakers push for openness on prescription pricing despite industry opposition | OregonLive.com

Lawmakers push for openness on prescription pricing despite industry opposition | OregonLive.com

SALEM – Oregon lawmakers in both parties are pushing a plan to require drug makers to publicly justify big price hikes, and officials say they are charging ahead with legislation despite strong opposition from pharmaceutical companies. If passed, House Bill 4005 would require drug companies to file annual reports with the state outlining price increases of […]

 

B.C. could cap surge pricing if companies like Uber and Lyft start operating there – BC | Globalnews.ca

B.C. could cap surge pricing if companies like Uber and Lyft start operating there – BC | Globalnews.ca

The report provided recommendations around accessible rides, suggesting that the government put a levy on all non-accessible ride-hailing trips with the money going to improving accessibility services. The committee also recommended protecting taxi stands and airport service for the traditional cab companies. One of the controversial facets of existing ride-hailing companies is that they charge […]

 

Blockchain may hold the key to drug pricing transparency in the US | EPM Magazine

Blockchain may hold the key to drug pricing transparency in the US | EPM Magazine

“Drug pricing in the US healthcare system is broken because of the way the market is set up,” said Jaquie Finn, head of Digital Health, Cambridge Consultants. “By moving to an open market that creates price competition and improves access, there is an enormous opportunity to fix it, providing the right technology is in place.” […]

 

How Taxing Uber and Lyft Could Fix City Traffic | WIRED

How Taxing Uber and Lyft Could Fix City Traffic | WIRED

Such a tax would create all the best incentives. Uber and Lyft would start charging more for journeys in high-congestion areas or at high-congestion times, reducing demand and therefore reducing traffic. (Those increased fares would not be the same as the surge pricing which currently exists, since surge pricing is designed to act as a […]

 

Study finds retailers send wrong promotions at wrong time to wrong customers | CSA

More than half of all retail promotions are sent to customers who would be content to pay full price. That’s according to a new Revionics-commissioned survey conducted by Forrester Consulting, which found that 52% of retailers’ weekly or monthly promotions go to customers who would happily have paid full price, resulting in lost margins that […]

 

 

More Headlines

Increase In Metered Parking Costs Led To More Spaces, Say Boston Officials | WBUR News

Increase In Metered Parking Costs Led To More Spaces, Say Boston Officials | WBUR News

Boston saw an 11 percent increase in open metered spots in the Back Bay, while the Seaport saw a modest 1 percent increase in available spaces, officials said in a statement. Gina Fiandaca, commissioner of the city’s transportation department, told WBUR that the reduction in double-parking and resident parking violations “told us that people were better able […]

 

 

Lexus Will Fix One Of The Biggest Issues With It Hybrid Models | CarBuzz

Lexus Will Fix One Of The Biggest Issues With It Hybrid Models | CarBuzz

Luxury automaker Lexus and parent company Toyota were among the first companies to bring hybrid cars mainstream. Even though Lexus has a ton of experience building hybrid models, we haven’t been completely enamored by some of the brand’s hybrid offerings. When we tested the RX450h, we could easily see why it is the best selling […]

 

Fast food is coming to your doorstep, but it can cost more | StarTribune.com

Fast food is coming to your doorstep, but it can cost more | StarTribune.com

FEES WITH THOSE FRIES Many apps charge delivery fees, and the amount can differ widely depending on the city you live and app you’re using. Online ordering apps charged fees ranging from $1 to as much as $11, according to a report last month from analysts at investment bank Mizuho. Typically, the app will tell […]

 

How Retailers Can Tackle 3 Big Data Challenges | CMSWire

How Retailers Can Tackle 3 Big Data Challenges | CMSWire

Challenge: Optimizing prices with no harm to KPIs Big data consultants often describe dynamic pricing as if it can work miracles. Indeed, the concept is fascinating: an analytical system automatically monitors the competitors’ prices and updates its prices based on the defined rules. Do you want to be always 5 percent cheaper than your rivals? […]

 

The U.S. Oil Industry Sets Its Sights On Asia | Nasdaq.com

The U.S. Oil Industry Sets Its Sights On Asia | Nasdaq.com

Rather than being crippled by OPEC’s attempt to flood the market, North American shale seems to have taken this challenge in stride, and even become stronger, faster and more efficient as a result. Couple this with U.S. crude’s more dynamic pricing system and it isn’t hard to see why WTI futures are overtaking futures like […]

 

 

Grainger CEO Outlines Benefits of Pricing Move | Modern Distribution Management

Grainger CEO Outlines Benefits of Pricing Move | Modern Distribution Management

At this week’s Grainger show in Orlando, FL, CEO D.G. Macpherson expanded on his recent comments that the company was seeing “benefits” from its pricing changes as he doubled down on the notion that the move is helping Grainger bolster three customer segments. “We’ve seen benefits in a number of areas,” Macpherson told MDM when […]

 

Pepsi refocuses marketing behind big brands after pricing take a hit | Marketing Week

Pepsi refocuses marketing behind big brands after pricing take a hit | Marketing Week

PepsiCo is planning to refocus its marketing behind its biggest brands, including Pepsi and Gatorade, after admitting that its decision to prioritise healthier products in its advertising has impacted its full-price sales. Speaking on an investor call earlier this week (13 February), PepsiCo CFO Hugh Johnson said that while promotional activity and price points have […]

 

White Rhino Beer Brewing it Differently | BW Hotelier

White Rhino Beer Brewing it Differently | BW Hotelier

The White Rhino beers are now being exported to markets such as UK where the company has retained the premium pricing. “We’re very happy with our strategy to price at least 30-40 percent above mass market brands. It allows us to distinguish our product and compete in a segment that is going to witness very […]

 

The Pricing Strategy That Sells More New Cars | DealerOn

The Pricing Strategy That Sells More New Cars | DealerOn

CAN JUST CHANGING YOUR PRICING STRATEGY HELP YOU SELL MORE NEW CARS?? LIKE, A LOT MORE CARS?! According to Jasen Rice, Owner of LotPop, ABSOLUTELY! In fact, he says, it’s the key to moving more metal that many dealerships overlook…but is far and away the one technique that can bring every dealership the swiftest and most dramatic results. Sound […]

 

The bidding process cannot be a rushed exercise | Gulf News

The bidding process cannot be a rushed exercise | Gulf News

There is a need for a shift in businesses’ perspective of pricing in the project services industry. The dichotomy of pricing and costing may sound complicated, but it is essential people in the business and at large understand the intrinsic cost of any service and the markups. How does one conclude that the price of […]

 

 

B2B E-Commerce Trends To Take Notice Of In 2018 | Forbes

B2B E-Commerce Trends To Take Notice Of In 2018 | Forbes

Mobile E-Commerce Is Here To Stay As buyers are getting younger, they are increasingly mobile. According to Google’s recent report, “The Changing Face of B2B Marketing,” 42% of B2B customers use mobile devices during their purchasing process. From researching products and comparing prices and feature sets to contacting merchants and completing transactions, business buyers depend […]

How Inflation Works (or Why Your Chicken Is Going to Cost More) | The New York Times

How Inflation Works (or Why Your Chicken Is Going to Cost More) | The New York Times

While still low, prices are starting to rise, in what would amount to a major shift if it persists. Higher prices for rents, gasoline, medical care and food helped drive prices up 2.1 percent in the 12 months that ended in January. The root of inflation is a strong economy After the global financial crisis, […]

 

 

Seven-minute workshop belies industry concerns with insulin pricing transparency regulations | The Nevada Independent

Seven-minute workshop belies industry concerns with insulin pricing transparency regulations | The Nevada Independent

And although the draft regulations make clear that the annual report on diabetes drug pricing required to be published by the department will only include aggregated information to describe general trends, PhRMA has asked that the department make clear in regulation that the report will not include information that is manufacturer-specific or could be “reverse-engineered” […]

 

 

Bitcoin: $50M in Cryptocurrency Stolen Using Google Ads | Fortune

Bitcoin: $50M in Cryptocurrency Stolen Using Google Ads | Fortune

Fooled into believing they had come to the right place, victims then entered private information that allowed the hackers to gain access to their actual wallets and take their digital money. “The attackers needed only to continue purchasing Google AdWords to ensure a steady stream of victims,” the Talos team led by Jeremiah O’Connor and […]

 

Pricing Psychology: 10 Timeless Strategies to Increase Sales | Help Scout

Pricing Psychology: 10 Timeless Strategies to Increase Sales | Help Scout

Pricing strategy can be challenging, complex, and offers no shortcuts. This reality makes “winging it” an enticing option when you don’t know where to begin. But that’s the wrong move to make; smart pricing is deliberate. While intuition plays a role and you’ll learn more from getting your hands dirty than armchair analysis, it can […]

 

Coinbase May Be Refunding Credit Card Cash Advance Fees On Cryptocurrency Purchases | Seeking Alpha

Coinbase May Be Refunding Credit Card Cash Advance Fees On Cryptocurrency Purchases | Seeking Alpha

This Could Be Painful For The Crypto Market Due to the dramatic rise in the prices of cryptocurrencies through the year 2017, many saw an opportunity in using their credit card to purchase these digital coins, then selling the coins, paying off their credit cards, and making a profit. While there is no telling what […]

 

 

Luxury Brand Pricing Strategy: Consistency is Key to Brand Success | Wealth-X

Luxury Brand Pricing Strategy: Consistency is Key to Brand Success | Wealth-X

Luxury brand pricing strategy hinges not just on finding the right balance between exclusivity and availability but also on being able to provide consistency across various countries and product ranges. The price of any product stemming from a luxury brand must reflect the key messages of any luxury brand; quality, heritage, and exclusivity. This is […]

 

Commuters avoiding using Firepool car park after ticket price doubles | Somerset County Gazette

Commuters avoiding using Firepool car park after ticket price doubles | Somerset County Gazette

COMMUTERS are boycotting a car park and leaving their vehicles in side streets after ticket prices doubled. One former user of the car park in Firepool, Taunton, says the council that owns the facility has shot itself in the foot as it is losing thousands of pounds of potential revenue by pricing motorists out. And […]

 

‘Outright Price Gouging’: Outpatient Cancer Care Costs Vary Wildly | Health Leaders Media

‘Outright Price Gouging’: Outpatient Cancer Care Costs Vary Wildly | Health Leaders Media

Of the data collected at nonprofit medical centers, pathology had the highest ratio at 4.1:1, or a markup of $310, followed by radiology and radiation oncology at 3.7:1 and 3.6:1, respectively. Due to these markup prices and specialty services, the study estimates cancer treatment costs can vary from $50,000 to $500,000. “Unwarranted price markups contribute […]

 

Asia Regulatory Roundup: Australia Squeezes Prices but Wins Industry Support | RAPS

Asia Regulatory Roundup: Australia Squeezes Prices but Wins Industry Support | RAPS

Welcome to our Asia Regulatory Roundup, our weekly overview of the top regulatory news in Asia. Australia Squeezes Prices but Wins Industry Support With New Drug Actions Australia has passed legislation that deepens the statutory price cuts triggered by the approval of the first generic or biosimilar competitor to a brand product. The amendment changes […]

 

Get Smart! About Ticketing: UCI Kinowelt counts on dynamic pricing | Film Journal International

Get Smart! About Ticketing: UCI Kinowelt counts on dynamic pricing | Film Journal International

“The cinema market in Germany is very open to the subject of pricing,” says Claas Eimer, commercial director of UCI Kinowelt, a leading circuit in the country and subsidiary of AMC Entertainment’s United Kingdom-based Odeon Cinemas Group. “And, as an innovative exhibitor, we are equally open to new ideas and opportunities.” As our industry is […]

 

Why it now costs more to wash your hair | Arizona’s Family

Why it now costs more to wash your hair | Arizona’s Family

NEW YORK (CNNMoney) — Razor, diaper and shampoo makers are waging a high-stakes battle over prices. Procter & Gamble, Kimberly Clark and Colgate-Palmolive’s business models are under pressure. An onslaught of new competitors have entered the market. Retail traffic continues to decline. And shoppers are more frequently going online to compare costs. The companies’ response? […]

 

Surescripts to showcase prescription price transparency at HIMSS18 | Healthcare IT News

Surescripts to showcase prescription price transparency at HIMSS18 | Healthcare IT News

Too often, out-of-pocket costs “surprise a patient at the pharmacy counter and prompt prescription abandonment,” Skelton said. “And that time-consuming manual processes like prior authorization can lead to significant delays in treatment as well as prescription abandonment as the patient, pharmacist, physician and health plan work through the frustrating labyrinth of fax- and phone-based interactions […]

 

2017 European Pricing Workshops & Conference in Barcelona Recap | Professional Pricing Society

2017 European Pricing Workshops & Conference in Barcelona Recap | Professional Pricing Society

The PPS 13th Annual European and Global Pricing Workshops and Conference was a huge success! Our conference was the highest-attended European Conference to date! Over 200 professionals from over 30 countries, representing 80 companies, making #PPSBCN17 one of the largest Conference events to date. Our agenda included 7 full-day workshops covering important topics such as Core […]

 

Drug Price Transparency Clears Second Hurdle | The Lund Report

Drug Price Transparency Clears Second Hurdle | The Lund Report

Backers of HB 4005 were able to fight off excessive delays to a bill that would require pharmaceuticals to explain price hikes of over 10 percent per year. Chris Gray The drug transparency bill passed out of a key budget subcommittee with just minor changes on a 6-2 vote Tuesday, setting up a vote in […]

 

Uber officially launches ‘Uber Express Pool’ in select cities | The Insider Car News

Uber officially launches ‘Uber Express Pool’ in select cities | The Insider Car News

Although fares could rival public transportation costs, Express Pool will be significantly more expensive during times of surge pricing. Uber’s intent with POOL is to help lower the cost of entry to its product to make it the massive base of the ride hailing pyramid that can reach the most people thanks to affordability near […]

 

Bitcoin price down as cryptocurrency selloff hits Ethereum, LiteCoin, Ripple | Metro News

Bitcoin price down as cryptocurrency selloff hits Ethereum, LiteCoin, Ripple | Metro News

The prices of all major cryptocurrencies plummeted overnight, with analysts claiming a mass sell-off of Bitcoin is to blame. Bitcoin dropped by almost 10%, before buoying up to hits its current value of just under $11,000. Litecoin and Ethereum also dropped, with Ripple recording a less dramatic plunge. All the other major cryptocurrencies are also down, […]

 

Greek MPs agree on probe into Novartis health care scandal | DW

Greek MPs agree on probe into Novartis health care scandal | DW

The Greek parliament has voted in favor of an inquiry to investigate allegations that senior politicians received bribes from Swiss pharmaceutical giant Novartis. Those accused have denied any wrongdoing. Greek MPs on Thursday overwhelmingly supported a probe into claims that a dozen senior politicians received bribes from or helped promote Swiss pharma company Novartis during […]

 

Boston looks at pricing pilot program’s impact | Newburyport News

Boston looks at pricing pilot program’s impact | Newburyport News

Boston Transportation Department Commissioner Gina Fiandaca said the pilot program showed that altering meter pricing can make better use of the city’s “limited curb space,” make it easier for drivers to find a place to park, and does more to protect bicyclists and pedestrians from double-parked cars. But in the Seaport, one of the city’s […]

 

Buyers call for more ‘transparency’ from TMCs | Buying Business Travel

Buyers call for more ‘transparency’ from TMCs | Buying Business Travel

Travel buyers have asked for more “transparency” over the pricing models being used by travel management companies (TMCs). Buyers said they wanted TMCs to offer more clarity on exactly how they earn money from suppliers, during a panel session on TMC fees at the Business Travel Show in London. Sandra Dvorak, category manager, travel and […]

 

 

 

 

Pricing Careers

Pcareers logo NEW

Pricing-Careers.com is LIVE – check out our new pricing industry resource where exceptional pricing professionals separate themselves from the crowd and recruiters find great candidates with the right the pricing skills and experience they need! 

 

 

 

Location: New York City, NY, US

Seniority: Mid-Senior level

Click here for more

 

Location: San Jose, CA, US

Seniority: n/a

Click here for more

 

Location: San Francisco, CA, US

Seniority: Mid-Senior level

Click here for more

 

 

 

 

 

Events and Resources

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).

 

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.

Resource Archives

Explore our collection of valuable pricing resources including:

 

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

“You can determine the strength of a business over time by the amount of agony they go through in raising prices.”

Warren Buffett

 

Post a Comment

WP-SpamFree by Pole Position Marketing