OnDemand WTP Pricing Research

This Week in Pricing > 2/9/19

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

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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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Panera Closes Last Pay-What-You-Can Restaurant in Boston | Eater

Panera Closes Last Pay-What-You-Can Restaurant in Boston | Eater

Nine years after introducing pay-what-you-can restaurants to several U.S. cities, Panera Bread is admitting defeat and closing down its last remaining non-profit Panera Cares location. The Massachusetts restaurant will shutter on February 15, according to Eater Boston. The chain opened its first donation-based community cafe in St. Louis, Missouri, in 2010. Under the model championed […]

 

Chargemasters full of ‘medical gobbledygook’ | Record Eagle

Chargemasters full of ‘medical gobbledygook’ | Record Eagle

TRAVERSE CITY — The cost of health care is a major concern for millions across the U.S., and in a world where information readily is available at a person’s fingertips, the call for greater price transparency is increasing. A new rule that went into effect Jan. 1 requires hospitals to post a list online of […]

 

Algorithms Are Better Than We Thought – They Can Collaborate Into Cartels | The Continental Telegraph

Algorithms Are Better Than We Thought – They Can Collaborate Into Cartels | The Continental Telegraph

Antitrust agencies are concerned that the autonomous pricing algorithms increasingly used by online vendors may learn to collude. This column uses experiments with pricing algorithms powered by AI in a controlled environment to demonstrate that even relatively simple algorithms systematically learn to play sophisticated collusive strategies. Most worrying is that they learn to collude by […]

 

Mercedes-Benz Stadium stopped ripping off fans at the concession stand and sparked a revolution [Video] | CBS News

Mercedes-Benz Stadium stopped ripping off fans at the concession stand and sparked a revolution [Video] | CBS News

When he co-founded the Home Depot chain, Atlanta Falcons owner Arthur Blank tried to make the customer experience and pricing the highest priority. He’s using that same model for concessions at Mercedes-Benz Stadium – and it’s having impact around the country. Two seasons ago, the stadium unveiled a grand experiment in professional sports: food and […]

 

Ross blames hotel ‘price-gougers’ as Vat remarks heckled at awards | Independent.ie

Ross blames hotel ‘price-gougers’ as Vat remarks heckled at awards | Independent.ie

Transport Minister Shane Ross has hit out at the “big hotel price-gouging brigade” after remarks he made about the 50pc Vat hike for the tourism sector were met with a frosty reception at an industry awards night. Mr Ross raised the issue of the Vat increase during a speech at the Irish Tourism Awards on […]

Target’s app charges higher prices to customers near a store, report says | St. Paul Business Journal

Target’s app charges higher prices to customers near a store, report says | St. Paul Business Journal

Target Corp’s smartphone app allows the retailer to automatically charge higher prices to customers based how close they are to a store, according to a new report. An investigation from KARE-11 found that, if a customer has his or her location services turned on, Target’s app may offer a higher price on certain items if […]

 

The importance of the Value Exploration Workshop | Perfect Price

The importance of the Value Exploration Workshop | Perfect Price

Buying Dynamic Pricing software, or software that takes enterprise data and turns it directly into real-time pricing actions, is necessarily involved. Frequently, the biggest challenge is change management–after all, you are fundamentally changing how your organization makes critical decisions. The Value Exploration Workshop (or VEW) is a crucial step in the decision process. It is so […]

 

The Single Most Essential Rule About Pricing | Inc.

The Single Most Essential Rule About Pricing | Inc.

After repeatedly blogging about pricing strategies, at this point I could probably write a book about it. (Hey, maybe I will….) However, in this series of columns, I’m boiling things down to their essence rather than trying to be encyclopedic. So, when it comes to pricing, here’s the most essential rule–the pricing rule that always […]

 

Harvard study highlights kerbside pricing as a solution to congestion | Cities Today

Harvard study highlights kerbside pricing as a solution to congestion | Cities Today

Goldsmith, a Daniel Paul Professor of the Practice of Government at Harvard Kennedy School, acknowledged that “each city will regulate its roads and kerb spaces differently” but said “a shared platform allows public and private vehicles to navigate differences with greater ease and less risk.” Stephen Smyth, Co-Founder and CEO, Coord “One can, of course, limit […]

 

If Road Pricing Is Inherently Unfair and Regressive… | Planetizen

If Road Pricing Is Inherently Unfair and Regressive… | Planetizen

“Congestion pricing is a regressive policy,” writes Steve Hymon, a blogger on staff for the Los Angeles County Metropolitan Transportation Authority (Metro), to summarize the opinions of many public and private conversations about a congestion pricing proposal under consideration in Los Angeles. Metro CEO Phil Washington suggested congestion pricing to implement some form of congestion pricing to help […]

 

Cab rides in NYC to get pricier as judge allows congestion pricing surcharge | QNS

Cab rides in NYC to get pricier as judge allows congestion pricing surcharge | QNS

The cost of your cab ride into Manhattan will be going up soon after a judge’s ruling allowed the state to begin collecting congestion surcharges on taxi and app-based rides south of 96th Street. Passengers will pay an extra $2.50 for taxis, $2.75 for Uber, Lyft and other ride-sharing apps. The state-mandated surcharges, signed into […]

Utilising Dynamic Pricing In Offline Retail | Intouch Insights

Utilising Dynamic Pricing In Offline Retail | Intouch Insights

Traditional pricing is set either based on the cost of production or on the price that competitors are charging. This ancient method has been slow to shift into the new and fast paced online world that we live in today. Dynamic pricing is when a company changes their pricing to match demand and supply. Whether […]

 

Tesla’s Model 3 pricing inches closer to $35,000 target | The Verge

Tesla’s Model 3 pricing inches closer to $35,000 target | The Verge

Tesla has reduced the price of the Model 3 by $1,100, bringing the starting price of its cheapest model down to $42,900 before incentives. All three versions of the car saw the same price reduction, including rear-wheel drive, all-wheel drive, and performance models. In a statement posted by Electrek a Tesla spokesperson said that the […]

 

U.S. Companies Raising Prices Send Mixed Signals for Inflation | Bloomberg

U.S. Companies Raising Prices Send Mixed Signals for Inflation | Bloomberg

Strong U.S. demand and a tight job market have given companies a chance to raise prices coming into this year, and they’re testing the waters gingerly. From consumer goods and airlines to railroads, businesses made attempts to recover higher costs including rising pay for workers, or simply lifted prices to try to boost profit margins […]

 

Will Target’s dynamic pricing strategy erode customers’ trust? | RetailWire

Will Target’s dynamic pricing strategy erode customers’ trust? | RetailWire

In a two-month investigation conducted by Minneapolis TV station KARE, it was uncovered that Target changes its prices on certain items depending on whether you are inside or outside of the store. In one example, Target’s app price for a Samsung 55-inch Smart TV was $499.99, but in the parking lot of one of their […]

 

Exclusive: Facing crackdown in Canada, drugmakers offered billions in price cuts | Reuters

Exclusive: Facing crackdown in Canada, drugmakers offered billions in price cuts | Reuters

TORONTO (Reuters) – Canadian pharmaceutical industry lobby groups, in an effort to head off a planned crackdown on prescription drug prices, offered to give up C$8.6 billion ($6.6 billion) in revenue over 10 years, freeze prices or reduce the cost of treating rare diseases, according to interviews and documents seen by Reuters. FILE PHOTO: A […]

 

Airport parking: Passengers blamed for high parking ticket prices | news.com.au

Airport parking: Passengers blamed for high parking ticket prices | news.com.au

Despite masses of complaints from the public, the Productivity Commission has defended the cost of parking at Australian airports, which often exceeds the cost of an airline ticket. A draft report released today claims consumers place too much value on “convenience” and the cost is justified. “Many consumers resent the price of parking at a […]

 

The illusion and cost of drug rebates | Washington Times

The illusion and cost of drug rebates | Washington Times

President Trump and every declared candidate for the presidency want to lower drug costs. And, surprise, it’s the president who has made a bold move toward a workable free market solution. His new proposal cracks down on the price-gouging practices of middlemen in the drug supply chain — Prescription Benefit Managers (PBMs), the mega-corporations that […]

 

The CFO View Of The Freemium Model | Forbes

The CFO View Of The Freemium Model | Forbes

As the CFO of a company with the word “free” in the name, FreeConferenceCall.com, you might be surprised to learn I’m not a big fan of the freemium business model. While the strategy has short-term value as an awareness and customer acquisition tool, I believe it has too many inherent flaws to be considered as a […]

 

How Is AI Is Empowering Sales | CIO Applications

How Is AI Is Empowering Sales | CIO Applications

Companies are using artificial intelligence and Machine Learning in all possible ways to advance their businesses. AI monitors a customer’s online activity to predict and suggest certain products which are relevant to the customer. Companies need to identify the different types of data sets that can be combined to portray the complete picture of the customer […]

 

 

Webinar (On-Demand): Pricing in New Product Development – From Afterthought to Integral Part of the Process | PriceBeam

This webinar looks at how pricing can and should play a more integral role in New Product Development (NPD) instead of being an afterthought once the product is already designed and produced.

Participants and viewers will learn about:

  • How to use pricing and willingness-to-pay research to create new products or services that have higher success rates once launched
  • How to integrate willingness-to-pay research in the product design process
  • How to better understand what prospective customers actually value, and what they don’t value
  • How to test different concepts for market viability and ability to achieve solid prices in the market place.

 

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.

 

Webinar (On-Demand): Machine Learning & Pricing with PPS | Perfect Price

Watch CEO of Perfect Price, Alexander Shartsis, discuss machine learning and pricing with the Professional Pricing Society (PPS).

PPS is the world’s largest association of pricing professionals, and usually asks tough questions!

 

Webinar (On-Demand): Value-Based Pricing foundation done right – Conjoint Analysis | PriceBeam

Value-Based Pricing is considered a superior strategy for most industries and businesses. But it also requires a solid foundation of data and market insights. In this webinar we will take an in-depth look at the powerful insights that can be created through price research, in particular using conjoint analysis

Participants and viewers will learn about:

  • How Value-Based Pricing can be supported with price research
  • Different price research methods
  • How Conjoint Analysis can provide powerful insights and support for a Value-Based Pricing strategy
  • Tips and tricks for running a conjoint analysis price research project.

 

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).

 

Explore our collection of valuable pricing resources including:

 

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Join 1,000’s of your peers in the our LinkedIn discussion group. The group features informative pricing strategy and technology focused news, events, resources, thought leadership, and discussions about the latest pricing strategy, tactics, and tech successes and failures in the news.

 

 

“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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