OnDemand WTP Pricing Research

This Week in Pricing > 6/15/19

TWIP is a digest of pricing focused news, thought leadership, events, jobs, training and certification resources for pricing professionals.

This Edition is brought to you by:

Vistaar

Vistaar is leading SaaS software provider that enables companies to optimize pricing, promotion, configuration, and rebate management.  Our solutions are powered by predictive models leveraged by machine learning that deliver profitable growth and maximize shareholder value.  Our world-class customer base spans a broad range of industries throughout the Global 2000 and includes: manufacturing, beverage alcohol, retailers, and many others.

Walmart’s New Pricing Tool Allows Suppliers to Factor in Cost of Tariffs | Transport Topics

Walmart’s New Pricing Tool Allows Suppliers to Factor in Cost of Tariffs | Transport Topics

Walmart Inc. has updated the information network used daily by its suppliers to let them submit cost increases that are directly attributable to higher U.S. tariffs on Chinese goods. The retailer introduced the tool, dubbed “Cost Change Scenario,” a year ago and has been rolling it out across product categories, according to internal memos and […]

 

Predatory pricing win turns out to be double-edged sword for telecom operators | livemint

Predatory pricing win turns out to be double-edged sword for telecom operators | livemint

A lot can change in a year, especially in the hyper-competitive telecom industry, which has witnessed severe disruption and has seen operators publicly spar against each other and with the sector regulator, since Reliance Jio’s entry in September 2016. In yet another cruel twist of fate, incumbent telcos Bharti Airtel and Vodafone Idea, which had […]

 

Pelosi to change drug-pricing plan after progressive complaints | TheHill

Pelosi to change drug-pricing plan after progressive complaints | TheHill

Speaker Nancy Pelosi (D-Calif.) is making changes to her drug pricing plan after complaints from the Congressional Progressive Caucus (CPC). Pelosi told lawmakers, including the heads of the Progressive Caucus, during a private meeting Wednesday night that she had heard their complaints. The CPC chairpeople, Reps. Mark Pocan (D-Wis.) and Pramila Jayapal (D-Wash.), had been […]

 

Op-Ed: Blame city of Chicago for price gouging of O’Hare suburban taxi riders | Will County Gazette

Op-Ed: Blame city of Chicago for price gouging of O’Hare suburban taxi riders | Will County Gazette

Give WGN9 credit for a fine investigative report on “The airport hustle: Unauthorized drivers looking to take passengers for a ride.” WGN undercover reporters described how unlicensed drivers are gouging O’Hare International Airport arriving passengers. One driver wanted to charge a reporter $89-$100 to suburban Naperville when a pre-arranged ride with a legitimate ride costs $50.Even […]

 

Regional airlines cleared of price gouging by Senate committee | Adelaide Now

Regional airlines have been cleared of price gouging by a Senate committee following an extensive probe into the cost of airfares. An 18-month investigation by the Rural and Regional Affairs and Transport References Committee found consistent concerns from operators and customers about the high cost of flying across the country. But the Senate committee found […]

 

Putting the Mac Pro’s Price into Historical Context | 512 Pixels

Putting the Mac Pro’s Price into Historical Context | 512 Pixels

When Apple announced the new Mac Pro last week, one of the things that got the most attention was its price tag: the base configuration will cost $5,999. The question is whether it’s an outlandish price for what is far and away the most powerful Mac ever sold. The fact is that Apple has definitely […]

 

Lawsuit: ‘Broad Conspiracy’ of Drugmakers Inflating Market | Law & Crime

Lawsuit: ‘Broad Conspiracy’ of Drugmakers Inflating Market | Law & Crime

In May, a bloc of Attorneys General from 44 states filed a federal lawsuit against pharmaceutical giant Teva Pharmaceutical Industries–the largest producer of generic drugs in the world–and 19 others, alleging that drugmakers engaged in “a broad conspiracy to artificially inflate and manipulate prices” for more than 100 different generic drugs. Connecticut Attorney General William […]

 

Here’s how much Raptors Game 5 tickets cost — and what you could spend it on instead | Global News

Here’s how much Raptors Game 5 tickets cost — and what you could spend it on instead | Global News

Ticketmaster sold out for the entire series almost immediately last month, leaving fans with no choice but to peruse the secondary ticket market through sites like StubHub and SeatGeek. Those sites operate based on demand, and demand has never been higher. The average price for a Game 5 ticket on the secondary market is US […]

 

Rebate rule good only for Big Pharma | San Antonio Express-News

Rebate rule good only for Big Pharma | San Antonio Express-News

As a pharmacist for 40 years in San Antonio, I have seen the impact rising prescription drug prices have on patients. Drug prices have soared over the last two decades, which has put untold financial stress and added health complications onto thousands of Texas families and seniors. Too often, patients will hand their medications back […]

 

Used-Car Wholesale Prices Surge, Retail Volume Drops. New Cars Sink Deeper into Carmageddon  | Wolf Street

Used-Car Wholesale Prices Surge, Retail Volume Drops. New Cars Sink Deeper into Carmageddon  | Wolf Street

Prices of used vehicle that were sold in May at wholesale auctions rose 4.0% compared to May last year, according to Manheim, the largest auto-auction house in the US, running about 8 million vehicles through its venues a year. The chart of the Manheim Used Vehicle Value Index, which is adjusted for mix, mileage, and […]

 

The $2.1 Million Question: What Are The Medical, Ethical Implications Of The World’s Priciest Drug? | Forbes

The $2.1 Million Question: What Are The Medical, Ethical Implications Of The World’s Priciest Drug? | Forbes

With last month’s FDA approval, Zolgensma became the world’s most expensive medication. Priced at $2.125 million per patient, the one-dose gene therapy is a potential life-saver for children with spinal muscular atrophy (SMA). Now, the treatment is at the center of an intensifying debate over the rising price of medications. Industry watchdogs are outraged. They […]

 

New York Considering Bill To Ban ‘Pink Tax’ Pricing Disparities | HuffPost

New York Considering Bill To Ban ‘Pink Tax’ Pricing Disparities | HuffPost

The New York state legislature is debating a bill this week that would ban the so-called “pink tax,” the designation for the additional charge that is often slapped onto products marketed for women. New York Assemblywoman Nily Rozic (D), who first introduced the bill in 2017, experienced firsthand disparities in the pricing of products based […]

 

Shoppers ‘buy British’ to beat Brexit uncertainty with rise in sale of UK-manufactured goods | Wales Online

Shoppers ‘buy British’ to beat Brexit uncertainty with rise in sale of UK-manufactured goods | Wales Online

More consumers have started to ‘buy British’ since the EU referendum with Brexit uncertainty forcing more people towards goods manufactured in the UK. New research showed that 30 per cent of consumers polled said they were choosing more British products since the leave vote in 2016. The study by pricing specialists Simon-Kucher revealed that both […]

 

Uber launching helicopter service to JFK this summer | New York Post

Uber launching helicopter service to JFK this summer | New York Post

Uber is finally ready to take to the skies — and has chosen the Big Apple for its helicopter-sharing debut. The ride-hailing giant said Thursday its aerial division, Uber Elevate, will launch a luxe service called Uber Copter on July 9 that will fly passengers from Lower Manhattan to JFK airport in eight minutes. As […]

 

AT&T’s WarnerMedia streaming service to cost “between $16 and $17 a month” | The Verge

AT&T’s WarnerMedia will launch its streaming video service in beta later this year, bundling HBO, Cinemax, and a library of Warner Bros. movies and TV. The package will cost “between $16 and $17 a month,” a strange pricing strategy, according to a report by the Wall Street Journal. Currently, HBO Go costs $14.99 a month […]

 

Five Below blames U.S.-China tariffs for possible price increases | The Philadelphia Inquirer

Five Below blames U.S.-China tariffs for possible price increases | The Philadelphia Inquirer

The discount retailer Five Below is where kids buy things they don’t need but surely want — unicorn-shaped ring holders, glitter cell phone cases, and a poop racing game with a fart button — for $5 or less. Now Philadelphia-based Five Below, which boasts low prices in its name, is considering charging more money. The […]

Webinar (On-Demand): 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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