OnDemand WTP Pricing Research

This Week in Pricing > 2/22/15

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.

This Edition is brought to you by:

value innoruption final 0612 rev

Value Innoruption Advisors

Founded by Dr. Stephan Liozu, Value Innoruption Advisors provides training and consulting resources for organizations interested in embedding value-based methodologies in their go-to-market strategies related to innovation, marketing, pricing, and sales. Value Innoruption Advisors offers two popular value and pricing management certification programs – Customer Value Modelers™ (CVM™) and Change Agent in Pricing™ (CAP™).

Click a link below to learn more…

Headlines

Why Your Dream Client Wants a Lower Price | The Sales Blog

Why Your Dream Client Wants a Lower Price | The Sales Blog

It is easier to find a lower price than it is to make the changes that improve your performance. This is why so many of your prospective customers are laser-focused on price. It’s easier to find someone to reduce the price you pay than to change what you believe. It’s easier to believe that your […]

5 Ways to Present Your Price and Get It! | The Sales Hunter

5 Ways to Present Your Price and Get It! | The Sales Hunter

The price you’re asking the customer to invest with you today is often a small piece of the total cost of ownership.  If this is the case, as you present your price, be sure to include what the long-term cost of ownership is.  For big-ticket items, this approach is absolutely mandatory. Use these five strategies […]

Pricing’s Million Dollar Question: How Much Should You Charge? | DonCrowther.com

Pricing’s Million Dollar Question: How Much Should You Charge? | DonCrowther.com

Deciding what you should charge is one of the toughest elements of business – whether you’re large or small, established or just getting started. And, to increase the pressure, what you charge is a huge factor in whether your business succeeds or fails, with almost every studying showing financial issues being among the top 3 […]

Brand Perception: Is Your Pricing Strategy Harming Your Brand? (Infographic) | Visualistan

Brand Perception: Is Your Pricing Strategy Harming Your Brand? (Infographic) | Visualistan

How is Your Pricing Strategy Affecting Brand Associations? Perception about a brand’s values, personality, and heritage all factor into customer sentiment about a brand. But what about price? Pricing plays an important role in shaping customer perceptions. While price promotions can lead to short-term gains, price wars can dilute brand value in the long-term. Managing […]

Selling While Holding to Your Price | SalesAndMarketing.com

Selling While Holding to Your Price | SalesAndMarketing.com

A customer or client may sing praises for your product and his firm’s relationship with you. At the same time he may insist that you reduce the pricing of your product or services to maintain that relationship. Some sales teams spend time thinking about where to make cuts and how to reduce prices to satisfy […]

6 reasons Ubernomics could be fatal to itself, its customers, and mass transit | GeekWire

6 reasons Ubernomics could be fatal to itself, its customers, and mass transit | GeekWire

Each time Uber angers customers with another surge pricing incident, or angers a city by ignoring its laws, an army of fans jump to its defense (as if Uber needs the help) and cry “free market.” Then, self-congratulatory insults at stupid consumers or old fart city leaders are hurled, along with an easy, breezy explanation […]

UPS Hates Coming To Your House, To Begin Tacking On Surcharges For Residential Delivery | Consumerist

UPS Hates Coming To Your House, To Begin Tacking On Surcharges For Residential Delivery | Consumerist

Last week, in advance of its quarterly earnings report, UPS admitted that it over-spent on holiday shipping in 2014 and that it wouldn’t make that mistake again. Today, with those quarterly earnings announced, the company announced how it’s going to make back some of its money — by tacking on surcharges for residential deliveries. The […]

Why the Smartest Business Leaders Raise Prices Instead of Lowering Them | Inc.com

Why the Smartest Business Leaders Raise Prices Instead of Lowering Them | Inc.com

Raising prices is one of the best things you can do if you want to build a successful business. This counterintuitive bit of advice comes from Chris Luo, VP of marketing at FiveStars, a loyalty program platform for small businesses. Luo joined the company two years ago, after stints in the marketing departments of Facebook […]

‘Predatory’ Pricing Strategy Of E-Tailers No Longer Viable: Report | Channel Times

‘Predatory’ Pricing Strategy Of E-Tailers No Longer Viable: Report | Channel Times

New Delhi, Feb 16: The latest report of PwC highlights that e-commerce companies have incurred combined losses of around Rs. 1,000 crore due to heavy discounting strategy and this model is not feasible in the long run. “Offering lower prices will not be viable in the long term. Despite luring in customers in the initial […]

Big data and price discrimination | Washington Center for Equitable Growth

Big data and price discrimination | Washington Center for Equitable Growth

Many reasonable concerns about the rise of Big Data—the collection of very large amounts of data generated by digital activity—seem to be coming to a head due to worries about privacy as more and more information is collected on individuals. One particular concern is that businesses may use collected data to charge different prices to […]

Insurance Commissioner notifies insurers to cease illegal pricing | California Department of Insurance

Insurance Commissioner notifies insurers to cease illegal pricing | California Department of Insurance

SACRAMENTO, Calif. – Insurance Commissioner Dave Jones today issued a notice to all property and casualty insurers doing business in California advising them that so-called “price optimization” in ratemaking is unfairly discriminatory and violates the law. Price optimization is used by insurers to set rates based on an individual’s or class of individuals’ willingness to […]

Consumer Groups Applaud California Insurance Commissioner Jones for Prohibiting Insurance Companies From Using “Price Optimization” Techniques |  Consumer Federation of America

Consumer Groups Applaud California Insurance Commissioner Jones for Prohibiting Insurance Companies From Using “Price Optimization” Techniques | Consumer Federation of America

“Price optimization by insurers is Big Data run amok.  Consumers are being punished for activities and circumstances without any disclosure or transparency by insurers.  The California, Ohio and Maryland actions are the first steps in returning insurance practices to the foundation of pricing insurance based on risk of loss,” said Birny Birnbaum, Executive Director of  […]

Target Agrees To $4M Settlement For Inaccurate Pricing | CBS Minnesota

Target Agrees To $4M Settlement For Inaccurate Pricing | CBS Minnesota

The suit, filed by prosecutors in California, claims Target also misrepresented the weights of products and that it didn’t check the accuracy of its pricescanners. A Target representative says some of the problems stemmed from promotional signs not being removed immediately after a promotion ended. Read complete article here: Target Agrees To $4M Settlement For […]

Apple records: first to $700 billion market cap, biggest solar deal | Fortune

Apple records: first to $700 billion market cap, biggest solar deal | Fortune

To those who pooh-pooh Apple’s latest clean energy investment as a wonky corporate sustainability ploy: you’re entirely missing the point, and you can expect more of the same. If you look behind the green aspects, the biggest benefit is simple and tangible. The 25-year contract provides Apple with a stable supply of electricity, at preordained […]

Not so obvious: Consumers don’t just assume bundled products are a better value | Phys.org

Not so obvious: Consumers don’t just assume bundled products are a better value | Phys.org

In one study, consumers were more likely to purchase a coffee maker that came with a milk frother than the coffee maker alone only when it was compared to the same coffee maker without the milk frother. When the bundle was contrasted with the single product, consumers were more likely to notice the add-on and […]

How Pricing Can Power a Turnaround | Entrepreneur

How Pricing Can Power a Turnaround | Entrepreneur

The partners decided to try incentives to attract more customers. First, they established a free three-day trial that let people test out the service and decide if they wanted to cancel before paying. Market research had suggested that giving customers a chance to try a service would make them far more likely to choose it. […]

The Most Important Thing to Know About Pricing For Client Work (Video) | FilmmakerIQ.com

The Most Important Thing to Know About Pricing For Client Work (Video) | FilmmakerIQ.com

In this clip from the CreativeLive class with The Marketing Mentor, Ilise Benun, she explains the best way to set your prices so they align with your business strategy and reflect the value you bring to your clients. Read complete article here: The Most Important Thing to Know About Pricing For Client Work.

11 Authors Thinking Deeply About EBook Pricing | Felix Whelan

11 Authors Thinking Deeply About EBook Pricing | Felix Whelan

If you’ve been following my series of posts on new models of Indie Publishing, you’ve heard me wax eloquent on why I believe the flood of free and under-priced eBooks on Amazon and elsewhere are bad for authors, readers, and Independent Publishing as an industry. For this post, I’m turning the mic around and letting […]

A Sweet Lesson in Price Perceptions | NYTimes.com

A Sweet Lesson in Price Perceptions | NYTimes.com

As I opened the freezer section, there was something new sitting next to my Talenti: Jeni’s Splendid Ice Creams. Jeni’s offers a Salty Caramel flavor! Then my eyes landed on the price: $11.99 a pint! At that precise moment, I noticed a shift in my thinking. Somehow the appearance of an $11.99 pint of gelato […]

Pricing Experiments You Might Not Know, But Can Learn From | ConversionXL

Pricing Experiments You Might Not Know, But Can Learn From | ConversionXL

Lots of entrepreneurs struggle with pricing. How much to charge? It’s clear that the right price can make all the difference – too low and you miss out on profit; too high and you miss out on sales. Don’t ask, can’t tell Asking people what they’d pay for and how much rarely works. For one […]

United Airlines cancels thousands of bargain tickets sold in pricing glitch | The Guardian

United Airlines cancels thousands of bargain tickets sold in pricing glitch | The Guardian

Customers told their bookings have been cancelled after exchange rate error led to first and business class tickets cut to fraction of usual cost United Airlines has cancelled the reservations of thousands of customers who took advantage of a pricing glitch to save thousands of pounds on first class tickets. The glitch, first spotted […]

Gap, Abercrombie need a pricing strategy shift | MarketWatch

Gap, Abercrombie need a pricing strategy shift | MarketWatch

The average discount at Gap-branded stores GPS, +0.10% over the last 14 months was 37% off the full retail price, while at Abercrombie ANF, -0.05% it was 49%, according to his findings. Both the Gap and Abercrombie brands struggled this holiday season, and their woes could worsen as Primark, a unit of Associated British Foods […]

Whole Foods’ Pricing Strategy: Beer Gardens And Apple Pay | Benzinga

Whole Foods’ Pricing Strategy: Beer Gardens And Apple Pay | Benzinga

Whole Foods Market, Inc. came out with better than expected results for the first half of fiscal year ’15, which sent the company’s shares soaring Thursday. It posted record total sales of $4.7 billion, while EPS was slightly higher at $0.47 than analysts’ expectations of $0.46. The company also announced lowering prices of products to bring […]

OPEC is waging war on American shale producers | Business Insider

OPEC is waging war on American shale producers | Business Insider

There could be a danger for OPEC if demand for its oil rises in 2015. The price could rebound to a level where US shale production could be revived, starting the whole cycle of a glut in crude all over again. In its Monthly Oil Market Report issued Feb. 9, OPEC said low oil prices […]

Amazon Veteran Reveals Company’s Pricing Tricks | PYMNTS.com

Amazon Veteran Reveals Company’s Pricing Tricks | PYMNTS.com

Amazon boasts its business model as offering online shoppers the lowest price they can find. But an Amazon veteran has launched a new startup that shows that Amazon’s pricing strategies don’t always result in the cheapest products. Guru Hariharan, a former Amazon manager, has introduced Boomerang Commerce, a new software that tracks the pricing habits […]

Click here for more recent articles.

 

Events

Webcast: Stopping Margin Erosion with Pricing Technology | SPA

When: March 11, 2015 2:00 PM Eastern

Register to attend our webcast where Brandon Liebhard, Vice President at Hodell-Natco Industries, will share their journey to pricing excellence and how they are leveraging science-based strategic pricing tools to stop margin erosion by identifying price-sensitive products and services. To implement a solution that enhanced profitability, developed pricing discipline, and […]

Seminar: The Value-based Pricing of Innovation | Stage-Gate International

When: April 14-15, 2015

Where: Washington DC

Are you capturing the value of your innovation? Firms are pouring billions in innovation investments every year with the goal of creating differentiation and competitive products and services. Many, however, forget two critical elements in the innovation management process: the clear definition and measurement of […]

Conference: Manufacturing Pricing Excellence – Barcelona 2015

When: May 20-22, 2015

Where: Barcelona, Spain

Event Overview On behalf of Copperberg and the entire Pricing competence team I am delighted to announce our 3rd Annual Manufacturing Pricing Excellence conference scheduled for 20-22nd of May 2015 in Barcelona, Spain. Since our last edition in Amsterdam, together with our advisory board and delegate network we have been […]

 

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

 

– – – – – – – – – – – –

“Pricing is actually pretty simple…Customers will not pay literally a penny more than the true value of the product.”

– Ron Johnson

 

Pricing Resources

Explore our archives of valuable pricing resources including:

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.

Check out some recent additions…

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.

Check out some recent favorites…

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.

Post a Comment

WP-SpamFree by Pole Position Marketing