OnDemand WTP Pricing Research

This Week in Pricing > 4/20/19

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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Basket CEO Neil Kataria: “Bringing price transparency to the grocery market can play a crucial role in tackling a major element of the world’s hunger problem” | Thrive Global

Basket CEO Neil Kataria: “Bringing price transparency to the grocery market can play a crucial role in tackling a major element of the world’s hunger problem” | Thrive Global

I had the pleasure to interview Neil Kataria. Niel is the co-founder and CEO of Basket. A graduate of University of North Carolina, Neil is highly analytical and never gives up until a problem is solved. Prior to building Basket, Neil founded newBrandAnalytics, a social analytics company, which he led through its acquisition by Sprinklr […]

 

Why It’s Difficult to Track the Changing Values of Artworks | Artsy

Why It’s Difficult to Track the Changing Values of Artworks | Artsy

Why is it so difficult to track the performance of art as an asset class? And how could increased price transparency help achieve more accurate indices of the financial performance of artworks and artists? Leading arts economist Clare McAndrew gives insight into the key drivers at work in the third of four segments from her […]

 

Dealers can’t add fees to advertised price; campaign seeks to raise awareness | Auto Remarketing

Dealers can’t add fees to advertised price; campaign seeks to raise awareness | Auto Remarketing

TORONTO – “Why not take a picture of the dealer’s advertisement the next time you’re shopping for a car and take it with you to your dealer? Because the dealer should not charge more than that advertised price.” That statement is part of an ad from a consumer awareness campaign from the Ontario Motor Vehicle Industry […]

 

Masters Tournament concessions menu prices: Why food, drinks are so cheap at Augusta National | Fox Business

Masters Tournament concessions menu prices: Why food, drinks are so cheap at Augusta National | Fox Business

The Masters Tournament is one of the most prestigious events in sports Opens a New Window. , but fans who paid top dollar for entry badges can look forward to dirt-cheap prices at Augusta National Golf Club’s famous concessions stands Opens a New Window. . The Masters menu features traditional items such as pimento cheese […]

 

The $35,000 Tesla Model 3 Is Already Dead | CarBuzz

The $35,000 Tesla Model 3 Is Already Dead | CarBuzz

Back in February, the long-awaited $35,000 Tesla Model 3 finally went on sale. But before deliveries have even started, the entry-level electric sedan has effectively been killed off, as Tesla has announced some big changes to the Model 3 line-up. According to Tesla, the Model 3 Standard Plus has sold at more than six times […]

 

Sarbanes calls insulin-pricing system ‘hocus pocus’ | Capital Gazette

Sarbanes calls insulin-pricing system ‘hocus pocus’ | Capital Gazette

U.S. Rep. John Sarbanes on Wednesday criticized insulin producers for their lack of transparency in setting prices. “I do not buy the argument that the patient is going to be worse off, the consumer is going to be worse off, if we have complete transparency,” the Baltimore County Democrat said at a hearing by the […]

 

Ugly ‘truth’ of cosmetic industry | millenniumpost

Ugly ‘truth’ of cosmetic industry | millenniumpost

The cosmetic industry is thriving like never before, and reason is the need to look presentable and photo-ready all the time. This increase in demand for make-up products leads to surge pricing, as a result of which beauty addicts look for ‘discounts’ and ‘sales’… and that’s where counterfeit products come into play. A threat to […]

 

Disney shares rocket higher after unveiling streaming cheaper than Netflix | CNBC

Disney shares rocket higher after unveiling streaming cheaper than Netflix | CNBC

Disney shares jumped on Friday after the company announced its Disney+ video streaming service would be $6.99 a month, two dollars a month cheaper than Netflix’s basic subscription. “I’m pretty optimistic about the ability for this thing to work. Particularly when you make it accessible because of the content we’re putting on, because of the […]

 

Disney+ annual pricing discount a ‘mistake,’ analyst says | FierceVideo

Disney+ annual pricing discount a ‘mistake,’ analyst says | FierceVideo

Disney’s investor day last week mostly drew positive reactions for the company’s streaming plans, but noted Disney critic Rich Greenfield today pointed out some potential flaws. Greenfield, an analyst at BTIG Research, said that Disney is making a mistake with its discounted annual pricing for Disney+. The company last week announced that Disney+, which is […]

 

 

Gender-Based Pricing? British Lawmaker Wants to Outlaw ‘Pink Tax’ | CNS News

Gender-Based Pricing? British Lawmaker Wants to Outlaw ‘Pink Tax’ | CNS News

London (CNSNews.com) – Razors. Deodorant. Car insurance. These are just some of the products which are often cited as costing more for women than men, and British lawmakers are now considering legislation that would do away with this so-called “pink tax.” A bill introduced in the House of Commons last month would extend consumer protection […]

 

Are you Confident with Pricing? | Mark Hunter

Are you Confident with Pricing? | Mark Hunter

Every salesperson has struggled with the issue of being confident when it comes to price. It is one of the main reasons I wrote the book, High-Profit Selling: Win the Sale Without Compromising on Price. One of the best ways to increase confidence is to zero in on the key benefits customers are seeking. The […]

 

Congestion Pricing Is Coming to New York. New Jersey Wants Revenge. | The New York Times

Congestion Pricing Is Coming to New York. New Jersey Wants Revenge. | The New York Times

New York and New Jersey are neighbors, but they have not always treated each other in a neighborly way. Their proximity and pride have led to plenty of fights — over who can lay claim to Ellis Island (both actually), which state has the best pizza (still raging) and the proper way to get gasoline […]

 

Epic Games issues V-Buck refunds for Fortnite ‘Birdie’ skin pricing error | Fortnite INTEL

Epic Games issues V-Buck refunds for Fortnite ‘Birdie’ skin pricing error | Fortnite INTEL

The Birdie skin was offered briefly in the Fortnite Item Shop for 1,200 V-Bucks, which was 400 V-Bucks over the original price, and Epic has refunded those players. On April 14, Epic Games released the Birdie female skin in the Fortnite Item Shop for 1,200 V-Bucks, however, there was an error with the pricing. Fortnite […]

 

The PlayStation 5’s pricing will be “appealing to gamers” | Critical Hit

The PlayStation 5’s pricing will be “appealing to gamers” | Critical Hit

Yesterday, out of nowhere, Sony revealed the first real details of its next-generation console. From the non-technical description offered by Wired, it sounds like one heck a machine. The PlayStation 5 (or whatever it ends up being called) will be built on AMD’s impending Zen 2 architecture, which is one heck of a step up […]

 

 

MindShare 2019 – May 14-16 | Zilliant

Want to Drive Profitable Growth in 2019?

The B2B industry is consistently failing to capture hidden pockets of revenue and profit that can be uncovered today. Learn from industry experts on how to put an end to profit leakage for good. Zilliant MindShare 2019 welcomes you to our ecosystem of best-in-class partners and thought leaders.

Each year, Zilliant brings B2B industry leaders together at their signature event – MindShare, where they are proud to help their customers tell their unique stories of how Artificial Intelligence delivers actionable insights and profitable growth.

Zilliant MindShare 2018 was an essential event for B2B manufacturers, distributors, and service providers looking to use actionable intelligence to navigate fiercely competitive industries.

Watch the MindShare 2018 highlight reel and get ready for MindShare 2019, coming to Austin, TX May 14-16, 2019.

 

Webinar (On-Demand): Using AI To Get C-suite Attention For Pricing | Perfect Price and PPS

Pricing is high impact, but are you getting the attention you deserve? In any enterprise environment, the struggle for attention and resources is always an issue. As a pricing professional, how can you get c-suite attention for prioritizing pricing initiatives and allocating budget?

Aligning yourself with your company’s digital transformation initiatives is a great way to move pricing into the fold as a key driver. In particular, focusing on disruptive technologies like Cloud Technologies, AI, Machine Learning, and Decision Automation, can help to spark executive interest.

By choosing an AI vendor over other pre-internet vendors you’ll find more approachable budgets and rapid implementation timelines, which will aid immensely in getting executive buy-in. AI-based pricing tools, like Perfect Price, have measurable ROI and are proven to simulate pricing better than other technologies.

 

Workshop: Pricing Innovation – Setting the Right Price for New Products or Services | PriceBeam

Join PriceBeam and The Pricing Coach on the 24th of April from 8:00 to 10:00 am – some of the best pricing experts who will offer in-depth analyses in the pricing of new and innovative products. Finn Helmo Hansen will present “Using Market Research to Price Innovation. Setting the right price for new products or services.” Mark Peacock will present “How smarter pricing strategies can maximise revenues & profits and deliver better customer value.”

Pricing is quickly becoming a key factor in product development. Sign up for this event and see how the changes in pricing will help you prepare.

 

Pricing in the Age of AI: What You Need To Do Now | Perfect Price Breakout Session at PPS Spring Conference

Artificial intelligence, machine learning, and automation are rapidly transforming every part of global commerce — including pricing. From retail giants like Amazon to on-demand services like Uber to leading airlines, hotels, and car rental agencies, forward-thinking companies are using AI to turn data into massive returns. This rapid shift is creating opportunities and confusion. To remain competitive in an increasingly AI-driven world, immediate action is critical.

This presentation focuses on the latest generation of AI technologies currently being utilized by companies around the world to match their supply with ever-evolving consumer demand, given changing marketplace factors and consumer behaviors.

ATTENDEES WILL LEARN

  • How companies can develop an AI pricing strategy and get buy-in from their entire organization
  • How to build a framework for their unique needs, or leverage existing frameworks for success
  • How to create consistently achievable revenue goals with AI pricing

 

Value-Based Pricing& the Quantification of Differentiation Value | Stephan Liozu Workshop at PPS Spring Conference

More firms and their pricing leaders are adopting value-based pricing every year. Research shows increased adoption of this progressive pricing orientation moving from 17% in 2008 to about 25-30% in 2018. Part of the deployment process of value-based pricing is the implementation of the Economic Value Estimation (EVE®) process to quantify differentiation value before it can be communicated to customers and capture from them. While adoption of value-based pricing is increasing, pricing professionals still face difficulties across their organizations. In fact, the EVE® process can be fairly mechanical and, with proper training, can be understood fairly rapidly. The challenge remains therefore what to do with the value models and calculated data.

In this unique workshop, we review the latest science on value-based pricing and the EVE® process. We also review how to operationalize the outcome in value-based innovation, value-based marketing and value-based selling strategies.

ATTENDEES WILL LEARN

  • How to operationalize value-based pricing and EVE® in your day-to-day business
  • How to practically link value-based pricing with innovation, marketing, and selling
  • How to respond to challenges in deploying the EVE® and value quantification process

 

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).

 

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.

 

Explore our collection of valuable pricing resources including:

 

Pricing News on LinkedIn

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, cartoons, quotes, 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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