This Week in Pricing > 4/7/18

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:PPS Logo

 

 

 

Professional Pricing Society

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.

Click a link below to learn more…

 

Top Headlines

Bitcoin price ‘crash’: Cryptocurrency value could be stifled by shock Coinbase decision | Express.co.uk

Bitcoin price ‘crash’: Cryptocurrency value could be stifled by shock Coinbase decision | Express.co.uk

Reddit users recently discovered that they were unable to purchase the site’s premium membership using the cryptocurrency that could add to Bitcoin’s current price woes. User Emoney04 claimed that the decision was made in preparation for an “upcoming Coinbase change”. When questioned on whether the site had removed the Bitcoin payment option, they wrote: “Yup […]

 

Megabus banned from advertising ‘from £1’ seats | The Week UK

Megabus banned from advertising ‘from £1’ seats | The Week UK

Megabus adverts offering fares “from £1” have been banned by the Advertising Standards Authority, saying “consumers should reasonably be able to expect to find seats at that price”, says iNews. The firm has admitted that on some coaches, only one seat is available at that price. “A new Aberystwyth to Birmingham service” trip with “from […]

 

There’s No Such Thing as Giving Too Much Information to Prospective Buyers | Dealer Marketing

There’s No Such Thing as Giving Too Much Information to Prospective Buyers | Dealer Marketing

As an industry, we’re finally getting it. We’re realizing that when it comes to selling cars, there’s no such thing as too much information. Traditionally, dealers trained salespeople to withhold information from car shoppers because they believed that if they gave that information out, the shopper would go somewhere else. They believed that if they […]

 

Big Data in E-Commerce: Trends, Personalisation and Beyond | BBN Times

Big Data in E-Commerce: Trends, Personalisation and Beyond | BBN Times

E-Commerce, as an industry, received a jump start because of the progress made by big data engines in providing critical and focused analytics to retailers. From pricing to customer analytics to machine learning directed marketing campaigns, the solutions are bottomless. To arrive at the solution for all these challenges of online business decision making, there […]

 

The One Scraping Hack That Saved My eCommerce Business | Business 2 Community

The One Scraping Hack That Saved My eCommerce Business | Business 2 Community

How it all started My background is in marketing, I’m an experienced SEO, PPC and affiliate marketer, so naturally, I understand a thing or two about driving traffic and turning it into sales. It felt right to open an eCommerce shop to generate another source of income while keeping my day job as VP of […]

Drug middlemen clash with FDA over blame for high prices | Washington Examiner

Drug middlemen clash with FDA over blame for high prices | Washington Examiner

“Contrary to today’s remarks, pharmacy benefit managers have long been strong supporters of bipartisan legislation that would prevent brand drug manufacturer abuses of risk evaluation and mitigation strategies that block generic competition,” according to a statement from the PBM group Pharmaceutical Care Management Association. The Campaign for Sustainable Rx Pricing, an advocacy group that has […]

 

Yellow cab hail apps may adopt surge pricing model | NY Daily News

Yellow cab hail apps may adopt surge pricing model | NY Daily News

Surge pricing could be coming to yellow cabs, and Taxi TV screens may be going, under new proposals voted on by the Taxi and Limousine Commission Thursday. Apps used to hail yellow and green cabs — Curb and Arro are the two main companies — can bring surge pricing to e-hail trips under the TLC’s […]

 

Aetna Will Apply Pharmacy Rebates to Prescription Drugs in 2019 | HealthPayer Intelligence

Aetna Will Apply Pharmacy Rebates to Prescription Drugs in 2019 | HealthPayer Intelligence

“We have always believed that consumers should benefit from discounts and rebates that we negotiate with drug manufacturers,” said Mark T. Bertolini, Aetna chairman and CEO. “Going forward, we hope this additional transparency will encourage these companies to rationalize their pricing and end the practice of annual double-digit price increases.” Aetna believes that improving prescription […]

 

Give taxis more room to compete on pricing | The Straits Times

Give taxis more room to compete on pricing | The Straits Times

But under the Public Transport Council (PTC) and the Land Transport Authority’s (LTA) mandate, taxi companies were forced to adopt a unified fare structure, and could vary only certain components of their fares. Uber and Grab had focused on competing on the basis of fares – their dynamic pricing system against the taxis’ regulated fare […]

 

 

 

More Headlines

How Index Exchange Switched to First-Price Auctions | eMarketer

How Index Exchange Switched to First-Price Auctions | eMarketer

Programmatic platforms are making big changes to how they price their ad auctions. And it’s arguable that no company more significantly overhauled its pricing structure than Index Exchange, a programmatic platform publishers use to sell their inventory. Back in September, Index Exchange ran all of its header bidding integrations through second-price auctions, which is how […]

 

Vector welcomes terms of reference for electricity pricing review | Voxy

Vector welcomes terms of reference for electricity pricing review | Voxy

Vector has welcomed the Government’s announcement of the final terms of reference for its review of electricity pricing, saying it is nearly a decade since the retail and generation components of the sector were last independently and robustly assessed and the review should deliver needed transparency across the entire make-up of a consumer’s bill. Vector […]

 

Pricing Your Work and Keeping Track of All Aspects of Your Production | Fstoppers

Pricing Your Work and Keeping Track of All Aspects of Your Production | Fstoppers

Chris Hau, a photographer and videographer based out of Ontario, Canada, and his business partner, Lizzie, have created a video trying to explain in their own opinion on how to price your photography. They brought up many good points such as breaking down each individual task of a project into an Excel worksheet to calculate […]

 

 

Coal India’s new pricing may raise fuel cost, consumers complain | The Economic Times

Coal India’s new pricing may raise fuel cost, consumers complain | The Economic Times

Coal India’s new pricing system may raise fuel costs because the monopoly would end up charging for moisture content in consignments, its consumers have complained. But executives of the state-run miner said the new pricing would make an insignificant difference. Coal IndiaBSE 2.94 % called consumers for a meeting to apprise them of its new […]

 

Ryde hopes to fill void left by Uber’s exit, Transport News & Top Stories | The Straits Times

Ryde hopes to fill void left by Uber’s exit, Transport News & Top Stories | The Straits Times

This will also translate into lower fares for commuters, he said. Ryde is in the midst of finalising its pricing structure, which will include dynamic pricing, where fares fluctuate based on demand. Mr Zou stressed that fares will be “transparent, fair and equitable”. The firm is up against Grab, which is valued at an estimated […]

 

Airlines could set airfare based on your income | Yahoo Finance

Airlines could set airfare based on your income | Yahoo Finance

Nailing down the cheapest airfare can be tough. Prices are based on a handful of factors, including route, date and demand, so they are always in flux. Now airlines might start looking at new ways to determine airfare, like your income. This month Sen. Chuck Schumer, (D-N.Y.) warned that some major airlines want to collect […]

 

How to Price Your Services | Business.com

How to Price Your Services | Business.com

Coming up with a business idea is only half the battle. Determining a price for your services is another huge part. As business owners, you need to determine a price for your services before you can start offering them to potential customers, and if you can’t offer your services, you can’t make any money. So […]

 

GoPro: A New, Entry-Level Camera Switches on Some Interest | Barron’s

GoPro: A New, Entry-Level Camera Switches on Some Interest | Barron’s

There are still plenty of questions about what’s ahead for GoPro—but for now, there’s a new camera. The Barron’s Next 50 company on Tuesday announced its first new product of 2018: The $199 Hero, which rounds out its three-tiered core pricing strategy at the bottom end. (That’s not our judgment. The company used the words […]

 

 

Why discounts are bad for energy customers | The Sydney Morning Herald

Why discounts are bad for energy customers | The Sydney Morning Herald

The ACCC’s final report is due mid-year, so I look forward to seeing how they tackle the discounting issue. In the meantime, Victoria has already moved to increase the transparency around energy bills, vowing to force retailers to spell out the dollar cost of offers, the dollar cost of not meeting conditions of discounts, and […]

 

 

Even strong climate-change believers don’t understand carbon pricing, survey shows | The Globe and Mail

Even strong climate-change believers don’t understand carbon pricing, survey shows | The Globe and Mail

More than four in 10 Canadians surveyed about climate change last month said there is conclusive evidence climate change is real, that it is being caused by people and that they believe addressing the problem should be a top government priority. However, even among this group — labelled by the Ecofiscal Commission as “climate believers” […]

 

Spotify Subscriptions Helped The Streaming Company Win Listeners | WIRED

Spotify Subscriptions Helped The Streaming Company Win Listeners | WIRED

The focus on subscriptions, combined with its hard-won relationships with the record labels, has saved Spotify from the fate of its many failed streaming music peers. That includes MOG, Turntable.fm, Muxtape, Imeem, Playground.fm, Myxer, Mixwit, Seeqpod, Grooveshark, and Skeemr. Pandora, which bought Rdio in 2015 in a distressed sale, endured takeover speculation for the last […]

 

Philly taxicab drivers down, but not out, after losing federal appeal against Uber | WHYY

Philly taxicab drivers down, but not out, after losing federal appeal against Uber | WHYY

A group of taxicab companies hoped the U.S. Court of Appeals for the 3rd Circuit would rule that Uber was violating antitrust laws by flooding the market with drivers. Instead, the panel sided with Uber, saying the San Francisco-based company hasn’t tried to form a monopoly, but “enhanced competition.” “Running a business with greater economic […]

 

Increasing user LTV by 45% with automated loyalty and dynamic pricing | PGbiz

Increasing user LTV by 45% with automated loyalty and dynamic pricing | PGbiz

What we offer as a company is a cloud-based platform that uses machine learning to optimise in-app purchase revenue, retention and user lifetime value for mobile game apps. Our products are Automated Loyalty & Retention (creating a native automated rewarding scheme that makes users come back to the game) and Dynamic 1-1 Pricing (finding the […]

 

 

What advisers should know about the first reference-based pricing lawsuit | Employee Benefit Adviser

What advisers should know about the first reference-based pricing lawsuit | Employee Benefit Adviser

Under the new healthcare payment model known as ‘reference-based pricing,’ employers bypass the traditional insurance carrier contract and pay hospitals directly. The amount paid is based on a multiple of Medicare’s reimbursement rate rather than being based on a discount off of the hospital chargemaster. Supporters of this strategy often present reference-based pricing as a […]

 

Jays getting a cut from online scalpers | Toronto Star

Jays getting a cut from online scalpers | Toronto Star

After decades of battling scalpers, the Jays are now working with them, blurring the once clear line between the box office and secondary marketplace. Tom Dakers, manager of Blue Jays fan blog Bluebird Banter, said half of opening day seats moving online is “incredible.” “Almost half? It sounds to me the team is cheating by […]

 

European food lobby resists EU drive for mandatory price reporting | agriCENSUS

European food lobby resists EU drive for mandatory price reporting | agriCENSUS

The EC is currently in the process of updating its agricultural policy and wants to provide farmers with more market information and price certainty. The group, however, said the market has enough price transparency and companies are unwilling to provide support to initiatives to extend it. Pointing to a paper from Ghent University, which the […]

 

Give taxis more room to compete on pricing | The Straits Times

Give taxis more room to compete on pricing | The Straits Times

But under the Public Transport Council (PTC) and the Land Transport Authority’s (LTA) mandate, taxi companies were forced to adopt a unified fare structure, and could vary only certain components of their fares. Uber and Grab had focused on competing on the basis of fares – their dynamic pricing system against the taxis’ regulated fare […]

 

Final Four basketball fans hit with surge pricing as Uber, Lyft charge $100 or more for rides | San Antonio Express

Final Four basketball fans hit with surge pricing as Uber, Lyft charge $100 or more for rides | San Antonio Express

Adding insult to injury, Kansas Jayhawks and Loyola Ramblers fans were hit with some hefty surge prices from ride-hailing services Uber and Lyft after their teams suffered crushing losses at the Alamodome Saturday night. Basketball fans in town for the NCAA Final Four tournament took to social media to complain about paying steep prices of […]

 

Interior Reconsiders Steep Park Fee Hikes Due to Public Backlash | Flathead Beacon

Interior Reconsiders Steep Park Fee Hikes Due to Public Backlash | Flathead Beacon

Interior Department officials are changing course on a plan to impose steep fee increases at America’s most popular national parks — including Glacier and Yellowstone — following a groundswell of 109,000 public comments, nearly all of them sharply critical of the proposal. The change of heart at Interior, first reported Monday by the Washington Post […]

 

The Golf Business Faces Some Formidable Hazards | Business West

The Golf Business Faces Some Formidable Hazards | Business West

Meanwhile … in professional golf, when a player has to work exceedingly hard to make pars and keep from falling down the leaderboard, those analyzing the action on TV like to say that he or she is ‘grinding it out.’ And that’s exactly what area courses are doing — working exceedingly hard so as not […]

 

What determines Broadway ticket pricing | Broadway News

What determines Broadway ticket pricing | Broadway News

BN: Do you think the high prices of some Broadway shows and on secondary ticketing sites encourages other shows to charge more? MF: It does, and it’s a mistake. For awhile, producers would go and look in the secondary market and see what their tickets were being resold for and say if someone is selling […]

 

Guelph says safety, not pricing, focus of ridesharing regulations | CTV Kitchener News

Guelph says safety, not pricing, focus of ridesharing regulations | CTV Kitchener News

Taxi drivers had petitioned for the update to force ridesharers to pay a standard fee per kilometre – eliminating the use of Uber’s ‘surge pricing’ and similar features. “All they wanted was a fair environment. They just wanted a level playing field,” says David Wiedrick, the city’s bylaw manager. While the taxi drivers and the […]

 

Aalborg CSP reduces the price gap between solar heat and fossil fuels | Sun & Wind Energy

Aalborg CSP reduces the price gap between solar heat and fossil fuels | Sun & Wind Energy

In order to meet the growing demand for cleaner and cheaper energy solutions, Aalborg CSP A/S have further optimized its concentrated solar power (CSP) technology and achieved significant cost-reduction as a result. With a new standardized lightweight structure, improved performance and up to 60% local sourcing opportunities, the 4th generation CSP parabolic trough technology, also […]

 

How ‘dynamic packages’ are helping travellers save hundreds on their next holiday | Nine.com.au

How ‘dynamic packages’ are helping travellers save hundreds on their next holiday | Nine.com.au

Travel expert Quentin Long stopped into the Today show to explain the nuts and bolts of it. “With Expedia, you can actually put a hotel and a flight together in what they call ‘dynamic packaging’, and save heaps of money,” Quentin explained. In fact, booking your holiday as a custom-built package can save you more […]

 

Steps taken by the Government to bring transparency in fixing prices of essential medicines | Business Standard

Steps taken by the Government to bring transparency in fixing prices of essential medicines | Business Standard

In order to have transparency, a draft version of the Price Calculation Sheets for the proposed revised price notifications, including wherever applicable, the Price to Retailer (PTR) and Moving Annual Turnover (MAT) values adopted for calculations, is uploaded on the website of NPPA for 10 clear working days to invite comments from the affected pharmaceutical […]

 

Healthcare – An expensive purchase without a price tag | Triad Business Journal

Healthcare – An expensive purchase without a price tag | Triad Business Journal

Healthcare is often one of the most expensive and important purchases an individual can make. We often hear rumblings about cost and how we must become better consumers of healthcare. But how is that possible when we really don’t know how much things actually cost? When we go to the doctor for lab work or an x-ray, there […]

 

Is it time for price transparency in healthcare? | BizTimes

Is it time for price transparency in healthcare? | BizTimes

Health economists and others have been calling for increased transparency in the cost of healthcare services for decades. But you don’t need a PhD to understand that it’s nearly impossible to stick to a budget unless you know how much your options will cost. Can you imagine shopping at a store that doesn’t show you […]

 

Retail is Reality (Part 1) | American Drycleaner

Retail is Reality (Part 1) | American Drycleaner

PRICE NOT MOTIVATOR Take the case of the retail icon JCPenney (JCP) as they went through a very visible and very publicized disastrous transition to “Lower Everyday Low Pricing.” According to a September 2013 article by Panos Mourdoukoutas writing in Forbes: “What haunts JCPenney? A strategic mistake regarding its pricing strategy — replacement of sales through […]

 

Teva, Valeant price-hike plans trigger warnings under California’s new transparency law: report | FiercePharma

Teva, Valeant price-hike plans trigger warnings under California’s new transparency law: report | FiercePharma

California is among a group of states that have taken drug prices into their own hands, with lawmakers last year passing a bill aimed at shining new light on the pricing process. Now, the state is starting to see early results. Documents obtained by Politico show that Valeant Pharmaceuticals plans a 63% price hike on a generic glaucoma […]

 

PhRMA argues early notice of price hikes won’t benefit patients | BioPharma Dive

PhRMA argues early notice of price hikes won’t benefit patients | BioPharma Dive

Dive Brief: Informing payers of looming drug price hikes hurts patients much more than it helps, industry trade group PhRMA argued in a blog post published last week. The post comes as a growing number of states are considering and passing legislation aimed at making drug pricing decisions more transparent. California’s State Bill 17 is […]

 

Fixed-Price Buying Prevents Marketers From Unlocking The Power Of Their Data | AdExchanger

Fixed-Price Buying Prevents Marketers From Unlocking The Power Of Their Data | AdExchanger

The misconception of fixed-price buying Many advertisers use private marketplaces to curate a group of premium publishers, assuming . they will get priority access to the best inventory. This is not the case anymore. Collapsing publisher waterfalls and competition through header bidding may cause fixed-price deals to compete alongside open-market bids, leaving price and yield […]

 

Grubhub delivers food for free in Charleston through April | postandcourier.com

Grubhub delivers food for free in Charleston through April | postandcourier.com

Charleston is suddenly being served by a variety of ordering and restaurant delivery companies. Quickfoxes is the original local business that continues to service a large selection of restaurants. UberEats has muscled in with delivery from national chains like McDonald’s and Papa John’s in addition to a large selection of local places. EatStreet is also […]

 

 

 

 

Pricing Jobs

Location: New York City, NY, US

Seniority: Mid-Senior level

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Location: San Jose, CA, US

Seniority: n/a

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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.

Workshop: Value-Based Pricing and Differential Value Quantification | Stephan M. Liozu, CPP

Date: Tue, 1 May, 2018 | 9:00 am – 4:00 pm

Location: PPS Spring Conference | Loews Chicago O’Hare Rosemont Hotel in Chicago, IL

More firms and their pricing leaders are embarking on value-based pricing strategies every year. Research shows increased adoption from 17% of firms in 2008 to about 25-30% of firms in 2016. Part of the deployment process of value-based pricing is the implementation of the Economic Value Estimation® (EVE®) process to quantify differential value. While adoption of value-based pricing and the implementation of EVE® is increasing, pricing professionals still face difficulties in designing and executing value-based pricing strategies and particularly executing the EVE® methods across their organizations.

In this unique one-day workshop, we go through the latest science on value-based pricing and on the EVE® process. We also review how to operationalize the outcome in value-based innovation, value-based marketing and value-based selling strategies. This is a unique and powerful workshop to learn theoretical and practical dimensions of EVE® and value quantification. Participants will also receive a signed copy of the “Dollarizing Differentiation Value” book as well as an eBook called “A User’s Guide to Value Modeling.”

Attendees will learn:

  • How to operationalize value-based pricing and EVE® in your daily business and track that your approach is successful
  • How to practically link value-based pricing with value-based innovation, value-based marketing, and value-based selling
  • How to use multi-functional collaboration to accelerate deployment of value-based pricing

(Level 600 Workshop)

 

 

Workshop: Price Execution for Sustained Profitable Growth | Navdeep Sodhi

Date: Wed, 2 May, 2018 | 9:00 am – 4:00 pm

Location: PPS Spring Conference | Loews Chicago O’Hare Rosemont Hotel in Chicago, IL

DESCRIPTION

Many companies find themselves ill-prepared to handle disruption or tap into innovation opportunities due to a legacy of weak pricing execution. New product introduction, organizational redesign, big data solutions, and other strategic investments – all of these critical functions can fall short without solid price operations.  Customers frame their perception of value received or procurement risk based on their vendors’ ability to execute pricing. Given the ever-changing marketplace, even smart companies need to adapt quickly with continuous price improvement.

However, companies have far more control over their pricing operations than they realize. In the workshop Pricing Execution for Sustained Profitable Growth, we will discuss a breakthrough approach for superior execution, one that can systematically eliminate pricing-related risk or leaks to bring new profits straight to the bottom-line without alienating customers. In this workshop, our discussion will include a holistic organizational approach for keeping senior management engaged while dismantling functional silos with the spirit of continuous improvement.

Attendees will learn:

  • How to find the Hidden Pricing Factory within your organization
  • How to secure trust and organizational support with evidence-based assessment of the overall pricing capability
  • How to align pricing operations with your pricing and sales strategy

(Level 500 Workshop)

 

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).

 

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.

 

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.

 

Pricing News LinkedIn Group

Join over 5,000 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.

 

Pricing Resources

Explore our collection of valuable pricing resources including:

 

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