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This Week in Pricing > 3/15/15

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:

Wiser

Wiser provides a complete suite of solutions to give retailers, brands, and manufacturers the edge to stay both competitive and most importantly, profitable. Wiser’s flagship product is WisePricer, a full-featured dynamic pricing and merchandising engine that monitors, analyzes and reprices retail products in real-time. WisePricer enables retailers to boost profit margins and revenue, price with confidence, and improve merchandising through powering the development of a sound pricing strategy. Wiser also offers a MAP monitoring solution, WiseMapper, for brands and manufacturers to monitor and protect their pricing across the thousands of retailers selling their products.

Click a link below to learn more…

Headlines

Pricing’s secret weapon: a well-trained sales force | McKinsey on Marketing & Sales

Pricing’s secret weapon: a well-trained sales force | McKinsey on Marketing & Sales

Imagine you supply soup. You sell millions of tins of soup to thousands of supermarkets across a vast set of regions. Having a single price for each tin of soup you supply would certainly make life easier, but you would also be missing out on massive potential profits. This example may oversimplify the point, but […]

Discounting pricing strategy – detrimental to retail brands | Truly Deeply/Madly

Discounting pricing strategy – detrimental to retail brands | Truly Deeply/Madly

When a brand continually discounts its goods or services do you ever want to pay full price for those same goods when they aren’t on sale? Every time I visit Katmandu they are having a sale and its usually a substantial one with discounts of 40-70% off. The full price on the tag has become […]

How to Land More Clients With Persuasive Fees [Infographic] | Bidsketch

How to Land More Clients With Persuasive Fees [Infographic] | Bidsketch

Freelancers and agencies spend a lot of time figuring out how much to charge, but not how to present their fees to clients. Research of over 25,000 proposals show that the right presentation can result in more projects being approved with more revenue for each project. Read complete article here: How to Land More Clients […]

Avoiding the pitfalls of automatic repricing | SalesWarp

Avoiding the pitfalls of automatic repricing | SalesWarp

Retailers understand the importance of offering items at a competitive price point. While there are numerous factors that impact whether people make a purchase with a seller, price is one of the more prominent variables. Generally speaking, offering items at a lower price (or equal cost) to competitors can go a long way to ensure customers […]

How to get Strangers to Pay More for your Artwork | Maria Brophy

How to get Strangers to Pay More for your Artwork | Maria Brophy

An artist sent me this question by email: “After looking over your art prices, I’m curious; how are you able to charge such high rates to strangers?” The writer was referring to the prices we charge for Drew’s artwork.  In many cases, our prices are much higher than the prices of other artists in our field. But it […]

DirecTV charged with false advertising | CNN Money

DirecTV charged with false advertising | CNN Money

The FTC has charged DirecTV with fraud, claiming that it misled customers with its popular 12-month discount package. The satellite company advertises a 12-month plan for as little as $19.95, but fails to make it clear that a two-year contract is required, according to the Federal Trade Commission. That means customers are getting stuck with […]

Let Your Customers Segment Themselves by What They’re Willing to Pay | HBR

Let Your Customers Segment Themselves by What They’re Willing to Pay | HBR

The late Sir Colin Marshall, when he was CEO and chairman at British Airways (BA), knew that success in his business came down to superior value capture. In a 1995 interview with HBR, he summed up the opportunity brilliantly: “You’re always going to be faced with the fact that the great majority of people will […]

Is Another Bubble Forming? | Keeping Current Matters

Is Another Bubble Forming? | Keeping Current Matters

After the housing market bust we experienced across the country in 2008, many experts have been quick to warn that a new bubble may be forming in some areas. One particular example of this is a recent article pointing toward the California Bay Area’s price gains over the last 18 months. The quickest and easiest […]

Value Pricing for Success | Spotlight Reporting

Value Pricing for Success | Spotlight Reporting

Changing your business ideology when you chose to move to using cloud software means a change in your structure, internal processes and often a subsequent change in your pricing as well. With the added efficiency, productivity and instantaneous access to data that cloud technology provides, you can now be more proactive for your clients and […]

Specialty drug pricing: worth risking payor wrath | Biotechnology Focus

Specialty drug pricing: worth risking payor wrath | Biotechnology Focus

While the threat of a pharma pricing war was largely blown out of proportion – the losses in the NBI were recovered in a matter of days – Express Scripts’ deal was perceived by market watchers as a shot across the bow to drug companies that were used to more pricing leverage. As the landscape […]

Getting the price right in consumer health | McKinsey on Marketing & Sales

Getting the price right in consumer health | McKinsey on Marketing & Sales

Compared to other consumer packaged goods categories, consumer health has unique opportunities and considerations for effective pricing strategies. Because OTC categories are generally more complicated for consumers to navigate than food and drinks, pricing can play a valuable role in guiding consumers to the right product for the right occasion. A higher price point, for […]

Mayweather Vs. Pacquiao Ticket Pricing Goes Berserk | Forbes

Mayweather Vs. Pacquiao Ticket Pricing Goes Berserk | Forbes

Early pricing is through the roof, but it is not clear if it is realistic, as no tickets have been sold yet through SeatGeek, according to Connor Gregoire, an analyst with the company. The cheapest seat listed for the fight is $4,116 with a median price of $9,218. Floor seats start at $22,441. This compares […]

3 Ways to Discover Your Unique Selling Proposition | Entrepreneur

3 Ways to Discover Your Unique Selling Proposition | Entrepreneur

Each of these is an example of a company that has found a USP “peg” on which to hang its marketing strategy. A business can peg its USP on product characteristics, price structure, placement strategy (location and distribution), or promotional strategy. These are what marketers call the “four P’s” of marketing. They are manipulated to […]

Discounting Remains Most Popular Pricing Strategy: Report | Twice.com

Discounting Remains Most Popular Pricing Strategy: Report | Twice.com

Discount pricing remains the most popular pricing strategy among retailers, a new study shows, although product bundling and “belowcompetition” pricing are employed nearly as frequently. The report, by Gartner subsidiary Software Advice, also found that most retailers use more than 10 pricing strategies in their go-to-market plans, and that more than half use software to […]

Walmart’s move to match Amazon deals spotlights mobile’s role in dynamic pricing | Mobile Marketer

Walmart’s move to match Amazon deals spotlights mobile’s role in dynamic pricing | Mobile Marketer

With Walmart’s pledge to match Amazon’s prices this holiday selling season, dynamic pricing is in the spotlight, emphasizing mobile’s role in impelling brands to change prices on the fly to attract online shoppers looking for the best deal. Walmart, the world’s largest retailer, last week said it will enforce a price-matching policy in all its […]

Six Advantages of Hyperbolic Discounting…And What The Heck Is It Anyway? | KISSmetrics

Six Advantages of Hyperbolic Discounting…And What The Heck Is It Anyway? | KISSmetrics

Put Hyperbolic Discounting to Work Are you ready to harness this cognitive bias to the conversion machine? Keep in mind, this is tame stuff. There are no coronary bypasses or credit card retirement scandals going on here. This is honest work, and here’s how it’s done: 1. Raise your price. Wait for the reward. Hyperbolic […]

Apple Watch retail price and profits | Business Insider

Apple Watch retail price and profits | Business Insider

The average sales price of the Apple Watch could be much more than people believe, according to analysts at Piper Jaffray. Right now it’s widely believed that the entry-level timepiece, the “Apple Watch Sport,” will cost about £225 ($349). But Piper Jaffray believes average selling prices (ASPs) will be higher when factoring in extras such […]

Apple Watch Prices Revealed | TechnoBuffalo

Apple Watch Prices Revealed | TechnoBuffalo

Apple finally revealed the prices for its Apple Watch during a press conference in California on Monday. The company had previously only said that the Apple Watch will start at $349, and now we know how much you can expect to pay for each model. The Apple Watch Sport will be $349 for the 38mm, […]

What Would A $19,999 Apple Watch Mean For The Future Of Pricing Elasticity? | ForbesLife

What Would A $19,999 Apple Watch Mean For The Future Of Pricing Elasticity? | ForbesLife

If the upper end of the Apple Watch Edition line goes for $19,999 as John Gruber is predicting on his Daring Fireball blog, it will point to a radical amplification of Apple’s traditional pricing strategy. I say amplification because Apple has always had tiers of pricing. But these have almost always been based on functional […]

Samsung Galaxy S6 Edge and Samsung Galaxy S6 Price Official | India Prices Hub

Samsung Galaxy S6 Edge and Samsung Galaxy S6 Price Official | India Prices Hub

After Europe pricing details were reportedly tipped by Samsung officials at MWC, Samsung Netherlands has officially revealed the pricing of the two smartphones and has started taking pre-orders as well. Both smartphones are listed to ship on April 10. The Samsung Galaxy S6 and Galaxy S6 Edge come in 32GB, 64GB and 128GB variants. At […]

Why Creatives Struggle With Pricing | HOW Design

Why Creatives Struggle With Pricing | HOW Design

Anyone who’s heard me speak, listened to my podcasts or read my book, The Creative Professional’s Guide to Money, knows that I am not a big fan of hourly pricing. But I know there are exceptions and strategic ways of pricing hourly that can make it work. That’s why I invited Rob Harr, VP of […]

RetailWire Discussion: Are retailers’ pricing strategies too complicated? | RetailWire

RetailWire Discussion: Are retailers’ pricing strategies too complicated? | RetailWire

According to a survey by Software Advice, 52 percent of retailers use more than 10 pricing tactics, although most revolve around a strategy of discounting. The study questioned retailers about their experiences with 13 different pricing approaches and found only two percent used two or fewer pricing tactics. The top eight were: 1. Discount: Discounts […]

Google sweetens deal for publishers with dynamic price floors | Digiday

Google sweetens deal for publishers with dynamic price floors | Digiday

Google is testing a new way for publishers to maximize their advertising revenue. The feature — called a “dynamic price floor” by a publishing executive briefed on the plans — would automatically change the minimum sell price for ads sold through Google’s DoubleClick Ad Exchange (AdX) based upon advertiser demand. A price floor is the […]

Sacramento tech team creates ‘Requested’ app for restaurant discounts | The Sacramento Bee

Sacramento tech team creates ‘Requested’ app for restaurant discounts | The Sacramento Bee

An ambitious smartphone app released this week promises to bring dynamic pricing to the dining industry, allowing restaurants to fill seats on slow days while giving customers the chance to negotiate discounted meals. Called Requested, the free app for Android and iPhone is the creation of a team that includes Sonny Mayugba, co-owner of The […]

Fixed Priced Billing vs. Hourly Billing | Jobber Blog

Fixed Priced Billing vs. Hourly Billing | Jobber Blog

It’s a decision many field service companies have to make; whether you should follow an hourly or fixed priced billing system, here are some pros and cons of both: Clients know exactly how they’ll be charged With a fixed priced system, your clients will know upfront exactly how much they’ll be charged. You’ll also have […]

Slide Show: Price Transparency Hits Tipping Point for Health Providers | Oliver Wyman

Slide Show: Price Transparency Hits Tipping Point for Health Providers | Oliver Wyman

The Health Care Cost Institute (HCCI), an independent, non-partisan, non-profit organization, announced last week the introduction of guroo.com, a consumer-focused website that provides national, state, and local cost information for common health conditions and services using claims from multiple insurers for more than 40 million insured individuals. The launch of this new website underscores how […]

 

Events

Workshop: Change Management in Pricing | Stephan Liozu

When: May 5-6, 2015

Where: Dallas, TX at the Hilton Anatole Hotel

Theories, Best Practices and a Transformational Framework More than 70% of projects fail because of the inability of organizations to change. The same goes with pricing projects and initiatives. Change in value and pricing management is challenging, sometimes tenuous, and might take a long time to […]

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 […]

Conference: Strategic Pricing Conference | SPA

When: June 11-12, 2015

Where: Las Vegas, NV at the Vdara Hotel & Spa at Aria

Learn how leading manufacturing and distribution executives have unlocked the keys to faster growth, stronger customer relationships, and market-leading profitability with SPA’s proven strategic pricing processes and technology. Event Overview Equal parts strategy and practical tactics, this complimentary Strategic Pricing Executive Overview event […]

 

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

 

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“Perhaps the reason price is all your customers care about is because you haven’t given them anything else to care about”

– Seth Godin

 

Pricing Resources

Explore our archives of valuable pricing resources including:

Blog: Does Psychological Pricing Work? | Wiser

Psychological pricing is a strategy in which retailers appeal to a consumer’s subconscious, unknowingly persuading them to buy. While this isn’t the first time that retailers have heard about psychological pricing, it hasn’t gotten any less effective. It’s a pricing strategy that can be utilized by all merchants, whether they sell online, in-store or both. Gone […]

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.

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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.

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