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This Week in Pricing > 5/25/19

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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Zilliant Showcases End-to-End Pricing and Sales Growth Capabilities at MindShare 2019 | Zilliant

Zilliant Showcases End-to-End Pricing and Sales Growth Capabilities at MindShare 2019 | Zilliant

AUSTIN, Texas, May 20, 2019 – Zilliant, the industry leader in AI-driven pricing and sales growth solutions, hosted its annual MindShare user conference last week in Austin. The company welcomed customers from around the world to share their experiences with Zilliant’s end-to-end suite of SaaS-based Price Management & Optimization and Sales Growth solutions. Attendees participated […]

 

Whole Foods Under Amazon Is Still The Priciest. Do We Care? | RetailWire

Whole Foods Under Amazon Is Still The Priciest. Do We Care? | RetailWire

Despite Amazon.com’s publicity push to promote price cuts at Whole Foods, the chain remains the highest price grocer in the land, according to a new study by Bank of America Merrill Lynch (BOA). The study, which included the round of price cuts announced on April 3rd that the grocer claimed included deeper discounts and double […]

 

How should retailers raise prices to offset tariffs? | RetailWire

How should retailers raise prices to offset tariffs? | RetailWire

Walmart and Macy’s last week admitted they will have to raise prices to offset the new and potential tariffs arising from the U.S.-China trade war. “We’re going to continue to do everything we can to keep prices low. That’s who we are. However, increased tariffs will lead to increased prices, we believe, for our customers,” […]

 

Why The Fed Needs To Pay Attention To The ‘Amazon Effect’ On Online Pricing | Forbes

Why The Fed Needs To Pay Attention To The ‘Amazon Effect’ On Online Pricing | Forbes

It’s no secret that fierce competition from Amazon puts downward pressure on prices charged by Walmart and other big multichannel retailers for the same items. However, the bigger “Amazon effect” relates not to the prices themselves but to the pricing behaviors of these more traditional retailers, according to Alberto Cavallo, the Edgerley Family Associate Professor […]

 

63% of DC-area residents oppose congestion pricing, survey finds | Smart Cities Dive

63% of DC-area residents oppose congestion pricing, survey finds | Smart Cities Dive

Dive Brief: Nearly two-thirds of Washington, DC-area residents oppose the idea of congestion pricing in the city, according to a poll from The Washington Post and George Mason University’s Schar School. Only 34% of respondents supported the idea, compared to 63% who opposed. Support was highest among District residents, with 40% of respondents from inside […]

 

Global insurance prices rise at fastest pace in seven years | The Actuary

Global insurance prices rise at fastest pace in seven years | The Actuary

The Global Insurance Market Index shows that average commercial insurance prices rose by 3% between January and March, marking the sixth consecutive quarter of increases. And composite pricing grew in all regions for the second quarter running, which Marsh said was driven by rate changes in property and directors and officers (D&O) insurance. The Pacific […]

 

Uber and Lyft Drivers Manipulate Surge Pricing | The Drive

Uber and Lyft Drivers Manipulate Surge Pricing | The Drive

Lyft went public. Then Uber. Measures meant to illustrate that the rideshare companies were ready to leave the security of Silicon Valley and enter reality. Yet, the two IPOs fell flat on their respective faces. Each company’s stock price has tumbled and investors have quickly realized that an ever-growing ridership doesn’t necessarily equate to a […]

 

AB InBev Beer Pricing Fine Exposes Problem With EU Market | Bloomberg

AB InBev Beer Pricing Fine Exposes Problem With EU Market | Bloomberg

If you’ve ever wondered why beer prices diverge so widely across Europe — from as little as 60 euro cents ($0.67) for a half-liter bottle of a local brew in the Czech Republic to 2.1 euros and more in Ireland — the European Commission’s decision this week to fine Anheuser-Busch InBev NV provides an important answer. […]

 

6 Texas Gas Stations Agree To Refund Customers For Hurricane Harvey Price Gouging | CBS Dallas / Fort Worth

6 Texas Gas Stations Agree To Refund Customers For Hurricane Harvey Price Gouging | CBS Dallas / Fort Worth

AUSTIN, Texas (CBSDFW.COM) –  The Texas Attorney General’s Office’s Consumer Protection Division settled lawsuits against two Texas gas stations accused of price gouging during the Hurricane Harvey disaster. The AG’s Office also secured Assurances of Voluntary Compliance with four Dallas-Fort Worth Metroplex gas stations. Under separate agreements, Encinal Fuel LLC and Lafayette C-Store will each […]

 

Could drug-price transparency raise prices? These lobbyists and lawmakers think so | MarketWatch

Could drug-price transparency raise prices? These lobbyists and lawmakers think so | MarketWatch

As Washington tries to address soaring drug prices, even efforts to just bring more transparency to the state of affairs aren’t a slam dunk. At a House subcommittee hearing on Tuesday, interest groups and Republican lawmakers voiced concerns about bills promising more sunshine. In testifying about the Public Disclosure of Drug Discounts Act, a representative […]

 

Prada Joins the Likes of Chanel, Hermès, and Louis Vuitton in a Global Quest for Uniform Pricing | The Fashion Law

Prada Joins the Likes of Chanel, Hermès, and Louis Vuitton in a Global Quest for Uniform Pricing | The Fashion Law

Prada plans to cut down on the number of wholesale partners stocking its products in Italy and Europe in an attempt to enjoy uniform pricing throughout the market, and to stomp out markdowns of its high fashion wares. The announcement comes amidst a larger attempt by the Milan-based brand to regain its footing after years […]

 

THE CPP SPOTLIGHT – Spring 2019 | Professional Pricing Society

THE CPP SPOTLIGHT – Spring 2019 | Professional Pricing Society

Announcing the most recent graduates with their Certified Pricing Professional Designations.  ATLANTA, GEORGIA, May 21, 2019- The Professional Pricing Society (PPS) is pleased to announce our recent Certified Pricing Professionals (CPP). Since 2003, individuals have joined the elite designation of the Certified Pricing Professional and used their knowledge to impact the field of Pricing. The […]

 

Walmart to take on Amazon Fire with trio of cheap Android tablets | ZDNet

Walmart to take on Amazon Fire with trio of cheap Android tablets | ZDNet

We’ve known for a couple of months that Walmart was preparing to inject some life into the moribund tablet market by releasing its own branded tablets, but a trio of the devices with the Onn house brand are finally arriving this week, according to Bloomberg. While Bloomberg surmises that Walmart is looking to chip away […]

 

The ‘green’ consumer has moved from fringe to mainstream, says Fair Trade USA | Confectionery News

The ‘green’ consumer has moved from fringe to mainstream, says Fair Trade USA | Confectionery News

Be clean, be green – and give back Premium chocolate has snagged an outsized role in recent years, as consumers show an increasing willingness to pay more for higher quality products – especially from producers that highlight their commitment to communities and sustainability. Clean-label chocolate in particular, which boasts simple ingredient lists free from artificial […]

 

It’s all about pricing in art | The Hindu

It’s all about pricing in art | The Hindu

It’s not easy to find out what sells and what doesn’t in art One of the most exciting parts of the Krea University’s admission process is the Krea Immersion Case, an expedition that takes short-listed liberal arts prospectives to outdoor sites and then engages them in a multi-disciplinary dialogue. The past weekend, I accompanied a […]

 

Webinar: Successful Price Increases using Market Insights | PriceBeam

Digitalization is everywhere of course. But whereas some industries are 100% digital from birth, others are still transforming from traditional consumer or industrial products to more of a digital service industry. Regardless of where your industry and company is on the digitalization path, pricing practices are severely impacted. Digitalization means increased transparency, more information,  as well as internationalization of buying and selling, but also new opportunities for value-adding and new services that can be offered and monetized.

Participants and viewers of the webinar will learn about

  • What trends in digitalization mean for pricing.
  • Avoiding (some) pricing pitfalls when digitalizing existing offerings
  • Using digital insights to better understand opportunities
  • How to predict optimal prices for digital services using market research

The webinar will be available from the end of May 31st, 2019. If you have already signed up you will receive a link by the end of this date. Otherwise, sign up on the right and receive a link by email to view the recording.

 

 

Webinar (On-demand): Setting the Right Price on New Products or Services | PriceBeam

In this webinar PriceBeam co-founder and Chairman, Finn Hansen, together with The Pricing Coach, Mark Peacock walk viewers through various challenges around the pricing of new products or services.

This on-demand webinar covers:

  • Common challenges when creating new products or services
  • How pricing should play a more prominent role in the innovation process
  • The various steps of product development and how pricing can add value at each step
  • Different types of price research that can improve the value of the new product
  • Psychological pricing tactics to improve the introduction of the new product or service.

 

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.

 

 

30th Annual Fall Conference & Workshops October 15-18, 2019 | PPS

We are excited to announce we’ll be in Las Vegas, NV for our 30th Annual Fall Pricing Conference & Workshops October 15-18, 2019! You can register now and take advantage of our Early Bird Offer.

 

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.

 

“The single most important decision in evaluating a business is pricing power,” Buffett told the Financial Crisis Inquiry Commission in an interview…

“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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