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: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…

 

Top Headlines

‘Unfair estate agent pricing costs sellers millions’ | The Times

‘Unfair estate agent pricing costs sellers millions’ | The Times

A lack of transparency among estate agents is damaging competition and costing homesellers hundreds of millions of pounds a year, according to research. Only one in every 50 estate agents list the commission they charge on their websites while nearly two thirds also fail to provide a quote over the phone, making it hard to […]

 

BSB reins in price publishing plan under pressure from chambers | Law Society Gazette

BSB reins in price publishing plan under pressure from chambers | Law Society Gazette

The bar’s regulator has backed away from plans to require chambers to publish hourly rates and fixed fees on their websites, averting fears that transparency could spark a ‘price war’ among barristers. The Bar Standards Board last night revealed that after consulting the profession it had dropped plans for barristers specialising in contentious areas to publish […]

 

Pricer’s Points: Is dynamic pricing good for restaurants and hotels? | Linchi Kwok

Pricer’s Points: Is dynamic pricing good for restaurants and hotels? | Linchi Kwok

According to the theories in classical economics, an equilibrium price of a product will be reached in a free market when supplies meet demands. When supplies remain stable, an increase in demands will result in a higher selling price for the product. Restaurants and hotels offer service products that are perishable in nature (e.g., restaurant […]

 

Price watchdog targets rising health costs | SWI

Price watchdog targets rising health costs | SWI

The growing expenses related to healthcare in Switzerland is a major concern for the price watchdog, who has called for more transparency in the sector. Speaking at the annual media conference of the federal cost oversight officeexternal link in Bern on Friday, Stefan Meierhans unveiled a new websiteexternal link outlining the cost of 20 common […]

 

Seminar: Jump on the roller coaster! Dynamic Pricing with UBER | University of Portsmouth

Seminar: Jump on the roller coaster! Dynamic Pricing with UBER | University of Portsmouth

Date: Wed, 14 March 2018 at 17:00 – 18:30 GMT

Location: University of Portsmouth, Richmond Building, Portsmouth PO1 3DE, United Kingdom

DESCRIPTION Join us on 14 March to hear from Fred Jones, UBER, Head of Cities, UK and Ireland and Dr Giampaolo Viglia, Reader, University of Portsmouth discuss the new trends in dynamic pricing, and learn how these mechanisms […]

 

How TodayTix Is Changing The Way Millennials Get Theater Tickets | Popdust

How TodayTix Is Changing The Way Millennials Get Theater Tickets | Popdust

TodayTix even offers last minute discounts and exclusive lotteries for the most sought after (and expensive) shows in nine major cities around the US. They also have full price tickets available anywhere from same-day to more than a month in advance for all the top productions on (and off) Broadway and across the States. Since […]

 

Customer complaints about skyrocketing electric bills prompt state review | BDN Maine

Customer complaints about skyrocketing electric bills prompt state review | BDN Maine

“I’ve never ever had a bill over $150, and that was [with] electric heat in the dead of winter,” Jacob Johnson of Tenants Harbor wrote in a Feb. 15 post on the Midcoast Message Board Facebook page. He said his CMP bill had more than doubled to $367 a month. The PUC receives complaints every […]

 

Is personalized pricing the future of shopping? [Video] | Chicago Booth Review

Is personalized pricing the future of shopping? [Video] | Chicago Booth Review

Many of us have noticed that marketing is getting more personal—but can companies target us on an individual level, not only with messaging but also with pricing? And if they can, would it be unfair to charge two people different prices based on their personal data? Or would personalized pricing mean a greater pool of […]

 

Toilet Paper Shortage Strikes Taiwan Amid Pricing Panic | The New York Times

Toilet Paper Shortage Strikes Taiwan Amid Pricing Panic | The New York Times

TAIPEI, Taiwan — Across Taiwan’s major cities, consumers are in a near panic over a shortage of one of modern life’s basic necessities: toilet paper. From Taipei in the north to Tainan in the south, retailers are having difficulty keeping it on their shelves, as reports of imminent price increases have sent consumers rushing to […]

 

Airlines’ Latest Sneaky Trick: Charging Passengers According to Who They Are, Not Where They’re Flying | Inc.com

Airlines’ Latest Sneaky Trick: Charging Passengers According to Who They Are, Not Where They’re Flying | Inc.com

Yes, even more than they do now, if you’re flying in economy. You see, the airlines have realized that technology can personalize so much. So, as Travel Weekly reports, they’re looking at so-called dynamic pricing and wondering whether to take it to personalized extremes. The idea is to use tech that personally identifies everyone who comes […]

 

Man goes on a $1,635 Uber ride through several states | WCPO Cincinnati, OH

Man goes on a $1,635 Uber ride through several states | WCPO Cincinnati, OH

According to the NJ.com report, Bachman passed out in the passenger seat of a 2011 Honda Odyssey, hours into his costly journey home. When he awakened, instead of just getting out and be stranded in the middle of no where, he decided to keep going. “I just woke up,” Bachman told NJ.com. “And I’m thinking, ‘Why the […]

 

 

More Headlines

Shifting demand and pricing pressure main solar tracker challenges | pv magazine

Shifting demand and pricing pressure main solar tracker challenges | pv magazine

“The Latin American market will continue its upward path,” he added, while “Mexico and Brazil will again be the largest Latin America markets but we expect significant volume increases in Chile and Argentina as well.” Overall, Moskowitz said the main challenges in the current tracker market are shifting demand and pricing pressure. India, for example, […]

 

Estream Networks Supports Cost Based Pricing on Retail Broadband Services | THISDAYLIVE

Estream Networks Supports Cost Based Pricing on Retail Broadband Services | THISDAYLIVE

The move by the Nigerian Communications Commission (NCC) to introduce a new cost based pricing for broadband and data services in the telecoms sector, has continued to get commendations from industry stakeholders, who are of the view that the new cost will stabilise broadband pricing and also address a whole lot of industry issues. The […]

 

 

Sony to enter taxi-hailing app business | The Car Connection

Sony to enter taxi-hailing app business | The Car Connection

The more taxis that feed data into the AI, the better its abilitiy to put cabs in front of hailing passengers. Of course, at the end of the ride a Sony digital payment system is waiting to collect the fare as well. With many rival cab companies in Japan, several solutions are springing up to […]

 

Octopus Energy embraces negative pricing with ‘plunge’ tariff | Clean Energy News

Octopus Energy embraces negative pricing with ‘plunge’ tariff | Clean Energy News

“Indeed, if the wholesale price goes below 0p/kWh, Octopus Agile will actually pay you to take the unwanted energy from the grid. As renewable energy production grows these events are only going to become more frequent.” The offer – using 100% renewable electricity – is made possible by Octopus’ dynamic pricing structure, which uses half […]

 

 

Simple and complex risks split insurance pricing – Zurich | Strategic Risk Europe

Simple and complex risks split insurance pricing – Zurich | Strategic Risk Europe

“When it comes to new emerging risks, risk management is on the front line.” She noted that Zurich has taken a lead in offering international insurance programmes since 1978. “Back then, nobody dared to offer such covers,” said Tondu-Mélique. For general insurance pricing, she suggested commercial buyers had seen prices flatten after years of cheapening […]

 

5 sirens that could signal the wrong kind of change | EyeforTravel

5 sirens that could signal the wrong kind of change | EyeforTravel

For airlines, there are ‘sirens’ in fleet selection, in schedule strategy, marketing and distribution, operations and customer service – in every airline function. In fact, even in dynamic pricing – which has become more and more sophisticated across the industry — there are the wrong kinds of change. In airline pricing, for example, beware of […]

 

Universal Studios Theme Parks Just Raised Prices On Both Coasts | Travel + Leisure

Universal Studios Theme Parks Just Raised Prices On Both Coasts | Travel + Leisure

The season of theme park price hikes is upon us, and now that Harry Potter magic, Minions mayhem, and Hollywood movie action is going to cost a bit more. Universal Studios Hollywood and Universal Orlando Resort have both increased ticket prices at the California and Florida theme parks, joining Disneyland and Walt Disney World as […]

 

The Lord of the Rings Living Card Game is for CCG players who are tired of card packs and PvP metas | PCGamesN

The Lord of the Rings Living Card Game is for CCG players who are tired of card packs and PvP metas | PCGamesN

But the constant pressure to buy card packs in order to stay on top of a game’s PvP meta is becoming a drain on players’ wallets and patience alike. Enter The Lord of the Rings Living Card Game, a CCG with an almighty license behind it, but no PvP and a transparent pricing structure supporting […]

 

 

Xenophon’s power to the people on fuel prices | News.com.au

Xenophon’s power to the people on fuel prices | News.com.au

MOTORISTS have won a long-running battle to get access to live online fuel price information provided by the State Government. The RAA has been lobbying for the service for years, similar to schemes interstate which show the exact bowser price per litre at all service stations, and also allow motorists to monitor and take advantage […]

 

Pricer’s Points: Digital Dynamic Pricing – “Dark Side of the Force”? | Frank Bilstein

Pricer’s Points: Digital Dynamic Pricing – “Dark Side of the Force”? | Frank Bilstein

However, DDP will lead to a zero-sum optimization in today’s market conditions. A.T. Kearney anticipates that DDP will lead either to a zero-sum optimization (as every market player feels forced to adopt DDP) or even to a strong increase in destructive price competition and consumer distrust. Here’s why: Automatic price matching means instant retaliation. Retailers […]

 

 

The Power of a Multi-Part Pricing Strategy | Strategic Pricing Solutions

The Power of a Multi-Part Pricing Strategy | Strategic Pricing Solutions

Last week I ordered tickets to a spring training baseball game, and it was another demonstration of the power of multi-part pricing.  By that I mean the amount the customer ultimately pays includes multiple components, and they add up to more than the headline amount.  When we experience multi-part pricing, i.e., pay the extras, we […]

 

Are you ready for personalized pricing? | Chicago Booth Review

Are you ready for personalized pricing? | Chicago Booth Review

The introduction of the price tag was a big step forward for American retailing, and you can thank John Wanamaker. In the 1870s, Wanamaker purchased a former Philadelphia railroad depot and expanded his men’s clothing business to include women’s clothing and dry goods. Along with Macy’s in New York and other department stores popping up […]

 

3 Far-Flung Cities Offer Clues to Unsnarling Manhattan’s Streets | The New York Times

3 Far-Flung Cities Offer Clues to Unsnarling Manhattan’s Streets | The New York Times

The idea translates easily into any language: Charge drivers for using congested streets and watch them change their habits. It has become an increasingly attractive tool for major metropolises overwhelmed by the traffic strangling their streets. But actually carrying out congestion pricing has been anything but easy — at least in three cities that are […]

 

11 Commitments You Need To Make to Excel In Business | Dan Waldschmidt

11 Commitments You Need To Make to Excel In Business | Dan Waldschmidt

11. Stop Discounting Your Service Sure, you want the sale. Sure, you want the business. Sure, you want people to know your name. But don’t try to achieve those things at the expense of your bottom line. “YOU DON’T HAVE TO MEET EVERY COMPETITOR’S PRICE. BEAT THEM BY BEING MORE AWESOME.” If you are a […]

 

 

Cotton prices to tumble in 2018-19, despite surge in Chinese imports | Agrimoney

Cotton prices to tumble in 2018-19, despite surge in Chinese imports | Agrimoney

Cotton prices will drop by some 12% next season, despite a surge in Chinese imports, and the prospect of 20% of the crop planted in the drought-hit US southern Plains being lost, US officials said. The US Department of Agriculture, unveiling its first full estimates for world cotton supply and demand in 2018-19, forecast that […]

 

Price watchdog targets rising health costs | Expatica Switzerland

Price watchdog targets rising health costs | Expatica Switzerland

The growing expenses related to healthcare in Switzerland is a major concern for the price watchdog, who has called for more transparency in the sector. Speaking at the annual media conference of the federal cost oversight office in Bern on Friday, Stefan Meierhans unveiled a new website outlining the cost of 20 common procedures performed […]

 

As flagship prices rise, are you considering more affordable options? | PhoneDog

As flagship prices rise, are you considering more affordable options? | PhoneDog

Last year, Apple made waves by not only announcing the iPhone X with its unique “notch design”, but also because the company was charging quite a bit of money for the entry-level variant of the handset. The price of entry to get on the train for Apple’s newest flagship smartphone was $999 in the United […]

 

Bills in Washington Legislature would lower prescription drug costs | The Olympian

Bills in Washington Legislature would lower prescription drug costs | The Olympian

The cost of some prescription drugs and their impact on health care affordability have come under scrutiny in the state Legislature as lawmakers try to introduce more transparency into the drug-pricing process. Three bills aimed at freezing or lowering the cost of prescription drugs have been introduced in the 2018 legislative session. All three cleared […]

 

India seeks ‘reasonable’ oil price from Saudi Arabia – minister | Reuters

India seeks ‘reasonable’ oil price from Saudi Arabia – minister | Reuters

NEW DELHI (Reuters) – India is seeking a reasonable price for crude oil from Saudi Arabia, Oil Minister Dharmendra Pradhan said on Friday, in a move that could help Riyadh regain top spot in supplying the world’s third largest oil consumer. Saudi Arabia’s Energy Minister Khalid al-Falih (C) leaves after a meeting in New Delhi, […]

 

TD Bank The Latest to Halt Cryptocurrency Purchases Using Credit Cards | Bitcoinist.com

TD Bank The Latest to Halt Cryptocurrency Purchases Using Credit Cards | Bitcoinist.com

Earlier in the month, major banks including JPMorgan Chase, Bank of America, Citigroup, and Virgin Money all effectively banned purchasing cryptocurrency on credit cards. Although plenty in the space saw this as a move by the banks to stifle investment in this alternative asset class, the underlying premise of the ban had a bit more […]

 

Freezing temperatures push up wholesale gas prices | BBC News

Freezing temperatures push up wholesale gas prices | BBC News

Oil prices collapsed by more than 50% in 2015, bringing down the wholesale cost of gas. But in recent weeks, that wholesale price has risen back to where it was nearly four years ago. When the price that companies pay each other for energy goes up, there’s always a risk that they’ll pass that on […]

 

Why Charging Your Electric Car at Night Could Save the World | Fortune

Why Charging Your Electric Car at Night Could Save the World | Fortune

It’ll take more than just driving an electric vehicle to save the environment. You’ll have to charge them at the right time, too. Put simply, if the world’s drivers plug in an increasingly large EV fleet right after work, it could undo many of the environmental benefits expected from fewer cars running on gasoline and […]

 

 

Oregon House OKs prescriptions price transparency bill | KTVZ

Oregon House OKs prescriptions price transparency bill | KTVZ

The legislation requires prescription drug manufacturers to report information regarding qualifying prescription drugs, including production, marketing, and research costs, to the Department of Consumer and Business Services. Companies could face civil penalties for failing to comply with the reporting. “The prescription drug market is a dysfunctional, with manufacturers operating with big payers held hostage to […]

 

 

Understanding Programmatic Auction Pricing Is a Major Priority for Marketers | eMarketer

Understanding Programmatic Auction Pricing Is a Major Priority for Marketers | eMarketer

Programmatic auctions have historically operated on a second-price basis. In second-price auctions, the second-highest price determines the amount of money the auction winner will pay. So if the highest bid is $10 and the second-highest bid is $5, the winner of a second-price auction will pay $5.01. This style of pricing was easier to navigate […]

 

Supporters Trust call on Bristol City to rethink ‘baffling’ season ticket pricing strategy | Bristol Post

Supporters Trust call on Bristol City to rethink ‘baffling’ season ticket pricing strategy | Bristol Post

Bristol City Supporters Club & Trust have released a statement criticising the club’s 2018/18 season tickets prices and strategy. The club released details for the 2018/19 campaign last night with the most expensive season ticket £599 for adults in the Lansdown Stand Centre, with the cheapest adult tickets in the South Stand and family area […]

 

Bitcoin Hurt By Lack Of Viable Pricing Model And The Ghostbusters Stairs Syndrome | Forbes

Bitcoin Hurt By Lack Of Viable Pricing Model And The Ghostbusters Stairs Syndrome | Forbes

Stocks can be priced according to fundamental analysis, which looks at things such as the company’s history of paying dividends, the company’s efficiency in doing its business, the company’s debt carry, and other factors. This determines the intrinsic value of the stock, which can then be compared against the market price. If you buy a […]

 

Cheap flights a thing of the past? Airlines introduce ‘dynamic pricing’ | news.com.au

Cheap flights a thing of the past? Airlines introduce ‘dynamic pricing’ | news.com.au

AIRLINES already vary the prices of their flights based on when you book and how many searches you have done. But companies could soon tailor their flight prices depending on how much money you have — called “dynamic pricing”. It’s easy to glean a lot of information about a person online — using things like […]

 

Herc Rental’s Rental Revenue Grows 16.2 Percent in the Fourth Quarter | Rental Equipment Register

Herc Rental’s Rental Revenue Grows 16.2 Percent in the Fourth Quarter | Rental Equipment Register

Herc Holdings reported fourth quarter equipment rental revenue of $414.5 million compared to $356.7 million in the fourth quarter of 2016, a 16.2-percent increase. Total revenue was $491.7 million, up from $405.2 million a year ago, a 21.3-percent hike. Herc reported net income of $214.3 million in the fourth quarter compared with a net loss […]

 

Energy Observers Calls for Fuel Price Hike Transparency | Indonesian News Portal

Energy Observers Calls for Fuel Price Hike Transparency | Indonesian News Portal

“If the non-subsidized fuel price increased, people will use the subsidized ones,” he said. Marwan said the increasing prices of non-subsidized fuels Pertamax (RON 92), Pertamax Turbo (RON 98), Dex (CN 53), and Dexlite (CN 51) will have impacts on inflation. However, he predicted that the impact would not be significant. As long as the […]

 

 

 

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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).

 

 

Seminar: Jump on the roller coaster! Dynamic Pricing with UBER | University of Portsmouth

Seminar: Jump on the roller coaster! Dynamic Pricing with UBER | University of Portsmouth

Date: Wed, 14 March 2018 at 17:00 – 18:30 GMT

Location: University of Portsmouth, Richmond Building, Portsmouth PO1 3DE, United Kingdom

DESCRIPTION Join us on 14 March to hear from Fred Jones, UBER, Head of Cities, UK and Ireland and Dr Giampaolo Viglia, Reader, University of Portsmouth discuss the new trends in dynamic pricing, and learn how these mechanisms […]

 

Pricer’s Points Blog Series

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

 

“Pricing is the only element in the marketing mix that produces revenue; the other elements produce costs.

     – Phillip Kotler

 

 

 

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