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This Week in Pricing > 4/26/15

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:SPA_logo_color LinkedIn 2

 

Strategic Pricing Associates

SPA is the leading provider of pricing analytics to 100′s of complex companies of all types: manufacturing, distribution, equipment, services, and software/technology products. The benefits are staggering; and they are typically accomplished in less than 90 days. Our typical client improves profitability by two to four percent of sales. SPA Clients include over 200 manufacturing companies including Parker HannifinRockwellGEExxon MobilCaterpillar as well as over 400 distributors including Harry Cooper Supply CompanyIndustrial Distribution GroupAH Harris, and ThermoFisher Scientific.

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Headlines

Uber rivals say bill to cap surge pricing doesn’t go far enough | Crain’s New York Business

Uber rivals say bill to cap surge pricing doesn’t go far enough | Crain’s New York Business

A bill introduced in the City Council back in November would cap Uber’s so-called surge pricing at 100% of normal rates, but the company’s rivals in the yellow-taxi, livery-cab and black-car industries don’t think that’s enough. Having been repeatedly stung by Uber’s meteoric rise in New York, the traditional taxi industry wants to limit surge […]

6 Steps to Follow to Sell at Maximum Price | The Sales Hunter

6 Steps to Follow to Sell at Maximum Price | The Sales Hunter

When we attempt to close the sale before getting answers to six vital questions, we will rarely  come close to getting maximum price. In fact, I urge you to look at these questions as your 6 steps toward maximum price! 1. Do you know 3 of the customer’s critical needs or desired benefits? Having the customer share […]

Confusopoly – the art of baffling your customers on price | BBC News

Confusopoly – the art of baffling your customers on price | BBC News

“Confusopoly: a group of companies with similar products who intentionally confuse customers instead of competing on price.” In the past, the energy and mobile phone sectors have been attacked for bamboozling consumers with impenetrable tariffs and deliberately opaque special offers. A study by the CentreForum last month said that there was little switching between energy […]

The Dangers of Discounting in B2B Sales | HubSpot

The Dangers of Discounting in B2B Sales | HubSpot

Often, salespeople jump to discounting to speed up negotiations. But according to John Barrows, leading sales trainer for some of the top B2B SaaS companies, discounting takes a negative toll on a deal in countless ways. In this post, John spells out the argument against discounting in his own words. Thinking about offering your prospect […]

The Dangers of Tuition Discounting – Commentary | The Chronicle of Higher Education

The Dangers of Tuition Discounting – Commentary | The Chronicle of Higher Education

The weak pricing power of colleges with low net tuition is reflected by the fact that their average net tuition per freshman student actually decreased 4.8 percent from 2012-13 to 2013-14, in contrast to an increase of 3.3 percent for colleges with the highest net tuition. And even that decrease masks the full extent of […]

Allstate looking to adopt controversial pricing model | Insurance Business America

Allstate looking to adopt controversial pricing model | Insurance Business America

Documents recently obtained by an Atlanta news team suggest one of the nation’s leading property/casualty insurers is seeking to change the way it prices policies – something that may bolster arguments in favor of an independent agent’s value in a highly commoditized space. In forms submitted to the Georgia insurance commissioner’s office, Allstate proposes to […]

Dynamic Pricing: Which Customers Are Worth The Most? Amazon, Delta Airlines And Staples Weigh In | Forbes

Dynamic Pricing: Which Customers Are Worth The Most? Amazon, Delta Airlines And Staples Weigh In | Forbes

Should a Mac user browsing a travel website pay more for a hotel than her PC-using counterpart? Is it plausible for an airline to charge a frequent flyer more for a plane ticket – because in all likelihood the travel is for business? Can a supermarket reduce the price of eggs for someone on a […]

Boomerang Commerce Launches A/B Testing Platform For Pricing | TechCrunch

Boomerang Commerce Launches A/B Testing Platform For Pricing | TechCrunch

Boomerang Commerce, a startup that helps online retailers optimize their pricing and a 2014 Disrupt NY Startup Battlefield finalist, today announced the launch of its A/B testing service for pricing. Marketers love A/B testing to see which message works best, but when it comes to pricing, offering two different customers two different prices for the same […]

If You’re Competing on Price, You’ve Already Lost the Battle | TECH.CO

If You’re Competing on Price, You’ve Already Lost the Battle | TECH.CO

Tesla Motors has been making some serious waves in the auto industry over the past few years. What makes this so remarkable is the size of the company compared to the major U.S. and foreign automakers. But unlike Audi and BMW, it’s not pricing that sets Tesla’s cars apart. In fact, the company recently introduced […]

Portland City Hall May Allow Uber’s “Surge Pricing” – Except in Emergencies | Willamette Week

Portland City Hall May Allow Uber’s “Surge Pricing” – Except in Emergencies | Willamette Week

Uber is rolling back into Portland this month. And it looks like the company will be allowed to bring its controversial “surge pricing” with it. Draft recommendations from Portland officials, who are creating new rules for ride-hailing companies Uber and Lyft, show the city plans to mostly allow Uber’s “surge pricing”—which hikes fares when demand […]

All Meters Now SFpark-Ready — More Demand-Based Parking Pricing to Come | Streetsblog San Francisco

All Meters Now SFpark-Ready — More Demand-Based Parking Pricing to Come | Streetsblog San Francisco

The SFMTA recently upgraded all of SF’s 29,000 parking meters to “smart meters” that are enabled for demand-based price changes throughout the day, a la SFpark. Now, the SFMTA plans to expand its smart pricing program that has curbed car traffic to more existing meters. “SFpark showed that demand-based pricing can improve parking availability without increasing double parking, congestion, […]

Ride or Die: Six Things You Need to Know About Tuesday’s Pivotal Vote on Uber | Willamette Week

Ride or Die: Six Things You Need to Know About Tuesday’s Pivotal Vote on Uber | Willamette Week

The ride-app companies agreed to hand over data on their trips: the prices, length and locations of trips, as well as users’ zip codes. (This is data Uber has already agreed to give up in Boston.) And the companies have pledged to utilize contractors who would guarantee rides to people with disabilities. It will the […]

Netflix Australia prices are cheaper because we pirate more | News.com.au

Netflix Australia prices are cheaper because we pirate more | News.com.au

NETFLIX’S biggest rival isn’t Presto or Stan. It’s piracy, and that’s why we are paying less than a lot of other countries around the world for access to the service. According to Netflix CFO David Wells, a country’s piracy rate is a significant factor when determining the pricing model for new markets. In Australia, pricing […]

Survey: Consumers want consistent pricing between online and in-store | The City Wire

Survey: Consumers want consistent pricing between online and in-store | The City Wire

There are a few exceptions which are listed on the website. Wal-Mart also notes that the final discretion on the price match rests with the store manager. Bill Gerads, retail expert with #OnShelf in Bentonville, told The City Wire he expects more retailers will figure out a way to offer like-pricing to appease consumer demand. […]

Liberty Hospital Receives “Bridging the Pricing Transparency Gap” Leadership Award | PR.com

Liberty Hospital Receives “Bridging the Pricing Transparency Gap” Leadership Award | PR.com

Charlotte, NC, March 31, 2015 –(PR.com)– PMMC, a leading provider of revenue cycle management solutions, awarded Liberty Hospital with the prestigious 2015 Leadership Award for “Bridging the Pricing Transparency Gap,” a recognition that reflects Liberty Hospital’s leadership and innovation in revenue cycle management and proactive approach toward price transparency. The award was formally presented to […]

Break your product into new markets by raising the price | Quartz

Break your product into new markets by raising the price | Quartz

With millions of Nest Learning Thermostats shipped to date, it’s clear that consumers crave beautiful design wrapped in sleek packaging. And while Nest may have started out with a price point better suited to the upper echelon, their first national advertising campaign last fall featured average-looking, relatable grandpas. Nest is the perfect example of a billion dollar […]

The ethical minefield of pricing | Investigo

The ethical minefield of pricing | Investigo

Pricing is an area of business that has advanced hugely over the last 10 years, particularly in the online space. Companies now have access to huge amounts of customer data on which to base their pricing strategies. Using this data to maximise value or achieve the business’ aims is normally seen as a positive thing, […]

VIDEO SALES TIP: Want Full Price? Be Willing to Walk Away. | The Sales Hunter

VIDEO SALES TIP: Want Full Price? Be Willing to Walk Away. | The Sales Hunter

You have to be willing to stand firm in your price and value proposition. If you start discounting with one customer, you will think you have to rely on a discount for every sale. Be willing to walk away!  You may be surprised at the number of customers who initially reject your price, but then return and […]

Michigan ditches dynamic pricing on football tickets | Detroit Free Press

Michigan ditches dynamic pricing on football tickets | Detroit Free Press

Dynamic pricing is no more at Michigan Stadium. A brainchild of former Michigan athletic director Dave Brandon, the adjusting of football ticket prices based on the real-time market no longer is part of U-M’s plan. The school announced the change as part of today’s release of individual ticket prices for the fall. The seven home […]

Store Brands Aren’t Just about Price | HBR

Store Brands Aren’t Just about Price | HBR

More and more, I hear different twists of the same question from clients: Can emotion still influence buying behavior in world where the mobile internet, with real-time access to product reviews and price comparisons, is training consumers to shop purely on rational facts? On the surface, it looks like rational benefits are winning. According to […]

Supermarket Price War ‘Devastating’ Suppliers | Sky News

Supermarket Price War ‘Devastating’ Suppliers | Sky News

Milk and vegetable producers are among those feeling severe pain as the effects of shop price deflation take their toll. A report has identified a 94% jump in the number of food and drink manufacturers in significant financial distress, with the supermarket price war blamed. The Begbies Traynor’s Red Flag Alert research said the year-on-year […]

Supermarkets Face Super-Complaint On Pricing | Sky News

Supermarkets Face Super-Complaint On Pricing | Sky News

Multi-buys and ‘was/now’ offers face a competition probe amid fears consumers are losing out by hundreds of millions of pounds. The pricing tactics employed by the country’s supermarket chains may face a competition inquiry after Which? used its legal powers to issue a so-called super-complaint. The consumer group accused firms of ripping off shoppers with […]

Good, Better, Best and OK? Will 4 levels work? | Pragmatic Pricing

Good, Better, Best and OK? Will 4 levels work? | Pragmatic Pricing

Here’s my question, does it always have to be 3? Reason I ask, one of our clients suggested to offer more introductory offer that’s lower in price than our current good option, which would help us pick up clients that are having hard time paying good price but might upgrade later once they increase their […]

 

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 […]

Webcast: How to Improve Sales People’s Confidence in your List Prices | SPA

When: May 6, 2015 2:00 PM Eastern

Register to attend our webcast where Nick Aversano, Director of Systems and Operations for Trade Supply Group, will share their journey to pricing excellence and how they are leveraging science-based strategic pricing tools to improve their sales people’s confidence in their list prices. To implement a solution that enhanced […]

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

     – Phillip Kotler

 

Pricing Resources

Explore our archives of valuable pricing resources including:

The List Price Question – Is it possible to charge more than list price? | Strategic Pricing Associates

“salespeople believe list price is that artificially high number which is used as a marker for future discounts” Many salespeople believe list price is that artificially high number which is used as a marker for future discounts. In their minds, it is an unnatural sin to sell anything to anybody for “list”. Part of this […]

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.

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