OnDemand WTP Pricing Research

This Week in Pricing > 3/9/19

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

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Its machine learning leverages proprietary data – the biggest competitive advantage–to increase average rates, utilization, and profit.

Perfect Price works with forward-thinking companies in industries ranging from rental car and airline to sports clubs and gas stations.

Webinar: Optimizing International Market Launches Through Pricing Insights | PriceBeam

Webinar: Optimizing International Market Launches Through Pricing Insights | PriceBeam

This webinar looks at how pricing should play an integral role in international market launches and how willingness-to-pay research can help optimize the prices in each market. Imagine a US company wanting to export to Germany: should the German price be just the USD price converted into Euros? It could, but it is likely that German […]

 

N.Y. Congressman Introduces Bill Forcing Cable Companies to Reveal Real Internet Speeds, Pricing | Stop the Cap!

N.Y. Congressman Introduces Bill Forcing Cable Companies to Reveal Real Internet Speeds, Pricing | Stop the Cap!

Rep. Anthony Brindisi (D-N.Y.) today introduced a bill in Congress to force cable operators fined by a state telecommunications regulator to publicly reveal the actual performance of their internet services, subscriber counts, and a complete price listing including all fees and surcharges. The Transparency for Cable Consumers Act comes in response to New York’s experiences […]

 

De Beers makes early in-roads after Lightbox launch sees 60% retreat is synthetic pricing | Miningmx

De Beers makes early in-roads after Lightbox launch sees 60% retreat is synthetic pricing | Miningmx

REMARKABLE early evidence following the launch of De Beers’ synthetic diamond range, branded as ‘Lightbox’, is that the pricing of competing products has fallen by as much as 60%, according to the group’s CEO, Bruce Cleaver. Lightbox was an attempt to draw a line in the sand between naturally occurring and mined diamonds, and those […]

 

University of Sussex reduces paper cup use with strategic pricing | Packaging News

University of Sussex reduces paper cup use with strategic pricing | Packaging News

Rather than following the big coffee chains and offering a discount for using a reusable mug, the University instead has set the reusable-mug price as the default price on the menu, with a paper cup a chargeable extra. The university is also working with Simply Cups’ paper-cup recycling scheme. Customers needing their drink in disposable […]

 

Everything’s Not $1 at Dollar Tree Anymore, In New Pricing Test | Coupons in the News

Everything’s Not $1 at Dollar Tree Anymore, In New Pricing Test | Coupons in the News

It may cost you several dollars to buy something at Family Dollar, while Dollar Tree’s selling point has always been that every item in the store is just $1. Now, though, the common owner of the two dollar store chains is flipping the script – Family Dollar will begin selling more items for just $1, […]

 

The Consequences of Amazon’s Pricing Power – Goods & Services | Medium

The Consequences of Amazon’s Pricing Power – Goods & Services | Medium

How Price Anchoring Works Whenever we are presented with a buying opportunity, whether at the grocery store, a restaurant, or shopping for jeans online- our brains have to estimate whether the price of the product (or service) is good or bad. If you’re going out for coffee, for example, and you see that a latte […]

Unauthorised surcharging impeding online payment system: Study | The Economic Times

Unauthorised surcharging impeding online payment system: Study | The Economic Times

NEW DELHI: Unauthorised surcharging and high MDR charges are some of the reasons for impeding growth and sustenance of digital payments despite all efforts to promote it, according to a study. “This is, inter alia, due to the distortionary pricing of payment products (i e MDR) and the continued fraudulent practice of surcharging by acquirer […]

 

Tesla Stock Plunges While Analysts Question Model 3 Pricing Plan | Barron’s

Tesla Stock Plunges While Analysts Question Model 3 Pricing Plan | Barron’s

Some Wall Street analysts are not wild about Tesla ’s (ticker: TSLA) new pricing and selling strategy. The back story: On Thursday, Tesla announced it will begin selling a Model 3 sedan with a base price of $35,000, fulfilling its long-held promise to sell the vehicle at the price point. The company also said it […]

 

Sixt combines car sharing and rental with new app | Breaking Travel News

Sixt combines car sharing and rental with new app | Breaking Travel News

Sixt has launched its car sharing offer Sixt share. Via its new Sixt app, Sixt offers its customers a highly innovative car sharing service: Sixt share will give customers the freedom to return their vehicles flexibly beyond Sixt share business areas – at over 2,200 Sixt stations worldwide and also in all business areas. The […]

 

Study: Prescription costs just depends on where you shop | Boston Business Journal

Study: Prescription costs just depends on where you shop | Boston Business Journal

As local lawmakers seek to rein in prescription drug prices, a new study by a Massachusetts consumer protection group is shedding light on how expensive the problem may be. According to a study released this month by MASSPIRG, consumers are paying vastly different prices for the same prescription drug depending on which pharmacy they shop […]

 

Why Model 3 Owners Are Angry and What Tesla Is Sort-Of Doing About It | Forbes

Why Model 3 Owners Are Angry and What Tesla Is Sort-Of Doing About It | Forbes

I haven’t seen any negative social media comments about Tesla’s soon-to-be-available $35,000 Model 3, but I have seen numerous angry comments about recent price changes on existing models which have gone down by $6,000 over the past two months since the $7,500 Federal subsidy was cut in half on January 1st. But if you scroll […]

 

A Guide to Dynamic Pricing Algorithms | Grid Dynamics

A Guide to Dynamic Pricing Algorithms | Grid Dynamics

Price setting is one of the most important problems in retail because any price setting error directly results in lost profit. However, traditional price management methods almost never achieve optimal pricing because they are designed for traditional environments, where the frequency of price changes is inherently limited (e.g., brick-and-mortar stores), and the complexity of pricing […]

 

States Pass Fewer Drug Manufacturer Pricing Disclosure Laws in 2018 | JDSupra

States Pass Fewer Drug Manufacturer Pricing Disclosure Laws in 2018 | JDSupra

While the introduction of state legislation that would require drug manufacturers to disclose pricing and other information did not slow down in 2018, the number of bills that were made law did slow down. During 2018, 22 state legislatures considered bills seeking to require drug manufacturers to disclose pricing information; however, most of the legislation […]

 

‘Confusing’ pricing and too much inventory: JCPenney CEO reveals the company’s core problems after 4 months on the job (JCP) | SFGate

‘Confusing’ pricing and too much inventory: JCPenney CEO reveals the company’s core problems after 4 months on the job (JCP) | SFGate

Soltau said she has spent time walking through stores, engaging with customers, and analyzing data from shopper surveys to identify the company’s strengths and weaknesses, and to develop a plan for reinvigorating sales. Her top priorities going forward include clearing out unsold inventory, improving the stores’ product mix, and establishing a clear pricing strategy, among […]

 

Bill would require middlemen to disclose profits on drugs | 790 KGMI

Bill would require middlemen to disclose profits on drugs | 790 KGMI

OLYMPIA, Wash. — The Washington Senate approved a proposal to increase drug price transparency in the state and sent it off to the House. The proposal wouldn’t immediately give consumers more information in stores but would require drug makers to give price information to state officials as a condition of selling in the state. Read […]

 

 

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).

 

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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