This Week in Pricing > 6/2/18

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:value innoruption final 0612 rev

 

 

Value Innoruption Advisors

Founded by Dr. Stephan Liozu, Value Innoruption Advisors provides training and consulting resources for organizations interested in embedding value-based methodologies in their go-to-market strategies related to innovation, marketing, pricing, and sales. Value Innoruption Advisors offers two popular value and pricing management certification programs – Customer Value Modelers™ (CVM™) and Change Agent in Pricing™ (CAP™).

Click a link below to learn more…

 

Top Headlines

Cheap rides are making Lyft less reliable | Quartz

Cheap rides are making Lyft less reliable | Quartz

Lyft spokesperson Campbell Matthews said in an email that ride wait times in New York City average around five minutes. “In times of high demand, passengers may see a higher ETA as we work to provide an affordable ride for passengers and earning opportunity for drivers,” she said. Uber co-founder and former CEO Travis Kalanick […]

 

Broadway Sets Box-Office Record, Powered by ‘Hamilton’ and Springsteen | The New York Times

Broadway Sets Box-Office Record, Powered by ‘Hamilton’ and Springsteen | The New York Times

Dynamic pricing — the practice of varying prices to reflect consumer demand — is not new to Broadway. But this past season, producers became increasingly deft at it, and that’s why revenue is growing so much faster than attendance. Theatergoers generally pay a premium for a seat in the center orchestra. It often costs less […]

 

Home prices are still on a tear, Case-Shiller says | MarketWatch

Home prices are still on a tear, Case-Shiller says | MarketWatch

The numbers: The S&P/Case-Shiller national index rose a seasonally adjusted 0.4% and was up 6.5% compared to a year ago in March. The 20-city index rose a seasonally adjusted 0.5% and was 6.8% higher than a year ago. What happened: Home-price growth showed no sign of slowing down. Demand is strong, supply is short and […]

Oil retailers, aviation stocks rally 3-20% after sharp correction in crude prices | moneycontrol

Oil retailers, aviation stocks rally 3-20% after sharp correction in crude prices | moneycontrol

Share prices of oil marketing and aviation companies rallied between 3 percent and 20 percent after sharp correction in crude oil prices from 2018 high. IOC, HPCL and BPCL shares gained 8 percent, 6.7 percent and 6 percent, respectively while Jet Airways (up 6.7 percent), SpiceJet (up 13 percent) and InterGlobe Aviation (up 3.3 percent) […]

 

To Lower Your Medicare Drug Costs, Ask Your Pharmacist For The Cash Price | NPR

To Lower Your Medicare Drug Costs, Ask Your Pharmacist For The Cash Price | NPR

A simple question at the pharmacy could unlock savings for millions of Medicare beneficiaries. Under a little-known Medicare rule, they can pay a lower cash price for prescriptions instead of using their insurance and doling out the amount the policy requires. But only if they ask. That is because pharmacists say their contracts with drug […]

 

How bringing oil under GST will rationalise petrol/diesel pricing | The Financial Express

How bringing oil under GST will rationalise petrol/diesel pricing | The Financial Express

Petrol and diesel prices have lately skyrocketed and, in some cities, the price of petrol hit Rs 85 per litre. In fact, on per-litre prices of petrol, India has one of the world’s highest figures. Several macroeconomic indicators such as the national import bill (India imports more than 80% of its crude oil demand), the […]

 

Lufthansa Cleared in Airfare Price Increase Investigation | AirlineGeeks.com

Lufthansa Cleared in Airfare Price Increase Investigation | AirlineGeeks.com

The allegations indicated that Lufthansa increased the price of tickets on domestic routes and was able to do so because of a lack of competition. A case was opened with the German government that led to an investigation of the airline. Throughout the government’s investigation, 412 flights were analyzed on 13 routes for a period […]

 

Carats launches a pricing index to bring tokenization to the diamond market | Venture Beat

Carats launches a pricing index to bring tokenization to the diamond market | Venture Beat

Although it is not billed as a stablecoin, Carats does share some of the properties of that breed of cryptocurrency or token. “If there’s one thing we can count on, it’s that diamonds won’t go out of fashion, and hence their value holds steady,” Carats cofounder and CEO Avishai Shoushan told me. “Our proprietary formula […]

 

 

More Headlines

May 29 – Grain Prices Fall After Trump Imposes Tariffs on China | Farm Lead

May 29 – Grain Prices Fall After Trump Imposes Tariffs on China | Farm Lead

A brutal day on Wall Street helped boost the U.S. dollar higher as political crises rattled both Italy and Spain. Meanwhile, grain prices reacted negatively to news that the Trump administration plans to proceed with tariffs on about $50 billion of Chinese imports. Grain prices slumped in response. Markets are also looking for cooler temperatures […]

 

Fuel price impact: Pune’s private bus services to hike fares by 20% from June 1 | Hindustan Times

Fuel price impact: Pune’s private bus services to hike fares by 20% from June 1 | Hindustan Times

With the state transport administration considering a fare hike for the Maharashtra state road transport corporation (MSRTC) buses, owners of private buses too have decided to hike fares by 20 per cent from June 1. The decision comes in the wake of the recent hike in petrol and diesel prices, due to which bus operators […]

 

How to make health care prices transparent | AEI

How to make health care prices transparent | AEI

Alex Azar, the Secretary of Health and Human Services (HHS), has made price transparency for medical services one of his top priorities. It’s an important goal because meaningful price information is essential for a functioning marketplace. Price transparency does not exist today because medical care isn’t bought and sold in a typical market. Because hospitals and […]

 

Draft rules to make oil pricing transparent out | BusinessMirror

Draft rules to make oil pricing transparent out | BusinessMirror

AS continuing price surges have shifted public anger mostly to the TRAIN law that mandated higher fuel excise taxes, the government moved to require a more transparent, unbundled system for informing people of the breakdown of petroleum product prices. The Department of Energy (DOE) has released the draft rules on petroleum price monitoring, meant to […]

 

PCC cites Grab price hikes, ‘decreased’ service quality after Uber acquisition | Inquirer Business

PCC cites Grab price hikes, ‘decreased’ service quality after Uber acquisition | Inquirer Business

Higher fares after Uber’s exit After Uber left the market last month, Grab imposed higher fares and more frequent surge-pricing “despite an increase in the supply of Grab drivers,” PCC said, noting Grab now has a 93 percent hold of the market after Uber drivers switched apps. The antitrust body based the post-acquisition price increase […]

 

Brent crude pares losses, but specter of output boost lingers | Reuters

Brent crude pares losses, but specter of output boost lingers | Reuters

International crude benchmark Brent futures LCOc1 were up 68 cents at $75.98 a barrel by 1405 GMT, while U.S. crude futures CLc1 dropped 65 cents to $67.23. Brent now commands its largest premium over U.S. futures in more than three years, meaning U.S. exports are rapidly becoming far more competitive globally than those from northern […]

 

For Oil Prices, Political Risks Dwarf the Dollar | WSJ

For Oil Prices, Political Risks Dwarf the Dollar | WSJ

LONDON—Oil prices are trading at levels not seen since late 2014, defying what is often a considerable obstacle to crude and other commodities rallying: a stronger dollar. A firmer greenback can make dollar-denominated commodities like oil more expensive for buyers who hold other currencies, thus reducing demand for crude and putting a cap on its […]

 

I Would Be Shocked If Bitcoin Prices Weren’t Manipulated | Forbes

I Would Be Shocked If Bitcoin Prices Weren’t Manipulated | Forbes

According the FT and Bloomberg the Justice Department has opened a criminal probe into whether traders are manipulating the price of Bitcoin and other digital currencies.  Well, duh?  Of course they are. Whether the activities meet the legal definition of manipulation  or can lead to a criminal indictment remains to be seen, but I’d be shocked if […]

 

New review of airline service by U.S. fliers holds surprises | WRAL.com

New review of airline service by U.S. fliers holds surprises | WRAL.com

The survey found that Spirit and Frontier received low marks across the board, including for flight status updates, wireless service on the plane and food selection. The airlines that led the way for economy seats were: Southwest, Alaska, JetBlue, Virgin America and Hawaiian. “Southwest really stood out, especially for their price transparency,” Blanco said. “They […]

 

‘Diamonds Are Forever,’ and Made by Machine | The New York Times

‘Diamonds Are Forever,’ and Made by Machine | The New York Times

On Tuesday, De Beers will introduce Lightbox, a fashion jewelry label selling (relatively) low-budget gems with mass-market appeal. (Think a sweet 16 gift, not an engagement ring.) Pastel pink, white and baby-blue lab-grown studs and pendants, priced from $200 for a quarter carat to $800 for one carat, will be presented in candy-colored cardboard gift […]

 

Don’t get duped by dynamic pricing | TheSpec.com

Don’t get duped by dynamic pricing | TheSpec.com

I’m staring at my online shopping cart in disbelief. I like to plan ahead and budget my purchases, so I added a $27 pair of kid’s runners to my cart last week. Three days ago the price jumped to $35. Today the price is $24. It’s the same pair of shoes sold through the same […]

 

Woman left gobsmacked after Uber journey to Wirral cost £90 after Champions League final | Liverpool Echo

Woman left gobsmacked after Uber journey to Wirral cost £90 after Champions League final | Liverpool Echo

The reply said: “Your trip was taken at a time when there was high demand for rides near your pickup location. “When vehicle supply gets tight, we raise fares to make sure partner-drivers are available to respond to your ride request quickly. We refer to this is as dynamic pricing or surge pricing. “Please be […]

 

Cassidy Health Care Proposal | The Daily Caller

Cassidy Health Care Proposal | The Daily Caller

The senator, along with GOP Sen. Lindsey Graham of South Carolina, wrote a bill last fall that would have drastically cut down on federal spending toward Obamacare and gave greater flexibility to states in how they chose to implement the health care law. Cassidy and his team are now focusing their efforts away from repeal […]

 

Yes Madam bets on affordability, transparency to disrupt the beauty services market | Your Story

Yes Madam bets on affordability, transparency to disrupt the beauty services market | Your Story

A trip to the beauty salon can easily set you back by a few thousand rupees. While looking and feeling good come at a price, there is no transparency when it comes to this particular price. With this in mind, online beauty services aggregator Yes Madam set up services in 2016, and the founders are looking […]

 

Say what? How an $800 charge for hearing aids soared to a $3,600 healthcare bill | Los Angeles Times

Say what? How an $800 charge for hearing aids soared to a $3,600 healthcare bill | Los Angeles Times

You almost get the feeling that insurance companies are doing everything they can to avoid having to cover a legitimate (but pricey) medical expense. The President’s Council of Advisors on Science and Technology said in a 2015 report that a single hearing aid costs an average of $2,300. Most people need two. Nowadays, top-of-the-line models […]

 

The psychology of pricing | RTE

The psychology of pricing | RTE

If you’re shopping today, you’ll see prices that end in “9” almost everywhere. It has been suggested that the “99 effect” was introduced to curtail employee theft in the early part of the 20th century. It forced cashier and sales staff to open the tills for change thus reducing the chances of them pocketing the money. […]

 

Trump’s drug pricing plan: light on details, heavy on questions | PharmaTimes

Trump’s drug pricing plan: light on details, heavy on questions | PharmaTimes

Better negotiation As a group, the proposals pertaining to better negotiation are most likely to influence access and reimbursement in the US pharmaceutical market. Currently, Medicaid manages drug spend through preferred drugs lists but is unable to block drugs from the formulary. Experiments directed at replacing the Medicaid preferred drug list with formulary management in […]

 

Jeremy Tauri: Charging the correct price | NZ Herald

Do you have trouble determining an appropriate price for your businesses goods or services? You’re not alone. Many small businesses which assume price is the only factor that their customers consider tend to also assume that a high price strategy won’t work for their business. It can be hilarious to discuss prices with people. I […]

 

How Beauty Companies Price Your Lipstick | Racked

The bottom line about the beauty industry’s bottom line Giving customers a peek into what it costs to make a lipstick is one thing. But the $17 billion question here (that’s how much the US prestige beauty industry sold in 2017) is: How do the prices consumers pay jump by ten times or more? There […]

 

Grab: Price spikes due to higher demand, not absence of rival | BusinessMirror

Grab: Price spikes due to higher demand, not absence of rival | BusinessMirror

PRICE increases in Grab were borne out of the dearth in supply and increased demand, and not because it had no one to compete with, a company official said, belying the government’s claim that Grab had jacked up its prices due to its virtual monopoly in the ride-hailing market. Leo Emmanuel Gonzales, who heads the […]

 

Call for fresh debate on removing GST from food | Jersey Evening Post

Andrew Bagot, managing director of Alliance, has called on the States to debate the removal of the five per cent tax from food to help bring costs down so that they are comparable with the UK. And, in a move he hopes will start a wider debate about food pricing in the Channel Islands, Mr […]

 

Bitcoin Price Manipulation Steers World’s Top Crypto in Difficult Direction | NewsBTC

Bitcoin Price Manipulation Steers World’s Top Crypto in Difficult Direction | NewsBTC

The Manipulation Will not Stop The US Justice Department is looking into Bitcoin price manipulation right now. Whether or not they will find anything out of the ordinary, remains to be seen. Even so, indicting anyone for this manipulative behavior will pose another big problem. Large holders of Bitcoin can effectively influence the market with […]

 

Why are cryptocurrency prices plummeting this time? | finder.com.au

Why are cryptocurrency prices plummeting this time? | finder.com.au

What’s Ether up to? Ether took a high dive, with interesting patterns emerging across different exchanges and coins. Its drop started on Bitfinex, but ETH prices followed suit on other exchanges before long and eventually went as low as $520 overall. However, on Bitfinex, they continued plummeting into the $400 range. Clearly one individual, or […]

 

Healthcare Price Information Availability Worsening | MedSpace

Healthcare Price Information Availability Worsening | MedSpace

Despite growing support for greater price transparency, US hospitals were worse at providing price estimates for total hip arthroplasty (THA) in 2016 than they were in 2011-2012, a follow-up survey of 120 facilities reports. “Our results provide sobering evidence that substantial efforts from government and industry to improve pricing transparency have had little tangible effect […]

 

Pricing Manager | Sprint

Seniority Level: Mid-Senior level

Industry: Information Technology and Services, Computer Software, Telecommunications

Employment Type: Full-time

Job Functions: Management, Manufacturing

Job Summary

Enhances revenue optimization and profit maximization models for pricing and discounting. Analyzes and interprets impact of potential pricing moves on gross margin and regional, national, and channel pricing levels. Identifies and communicates trends in pricing, and proactively makes recommendations for management decision making. Develops databases, tools, and reports that support pricing information decisions.

  • Position will be responsible for helping create quarterly device pricing strategy & evaluating short-term promotional offers across various sales channels within the Prepaid Marketing Segment.
  • Position will also be responsible for assessing long-term customer value, as well as impact to the device subsidy budget

 

Corporate Pricing Manager | Atkore International 

Seniority Level: Mid-Senior level

Industry: Building Materials, Construction

Employment Type: Full-time

Job Functions: Management Analyst, Strategy/Planning

Job description

Atkore International is an industry leader in the manufacture of Electrical Raceway and Mechanical Products and Solutions, serving a wide range of construction, electrical, fire and security and mechanical applications.

The Mechanical Pipe & Tube Strategic Business Unit (SBU), a part of Atkore International, currently has an opening for a Pricing Manager in our Harvey, IL location. Harvey is located approximately 20 miles south of downtown Chicago.

Reporting to the VP/GM of Mechanical Pipe & Tube, the Pricing Manager is charged with growing contribution margin through a combination of strategic pricing and targeted growth initiatives.

 

 

Events and Resources

Conference: International Pricing Forum – IPF Paris 2018 | French Pricing Club

Date: June 13-14, 2018

Location: Cercle National des Armées in Paris, France

The IPF is the number one international pricing event in France, organized by pricing professionals (the French Pricing Club) for pricing professionals.

Too many pricing conferences are frustrating when presentations focus on general statements such as “you need to do value pricing” or “you need to work with your sales teams”.

The greatest value that the IPF will bring, is to focus on concrete case studies: Which issues? Which actions? Which obstacles? Which solutions and which lessons learnt?

On top of that, the IPF will also enable you to meet pricers from your area of business, through speed-meetings. You will not leave without speaking with the right people!

The ambition of the IPF is that you take away new actions to improve your pricing!

The number of places is limited to ensure a quality and high-level event, so don’t wait any longer and register now!

 

Fall Pricing Workshops & Conference | PPS

Date: October 23-26, 2018

Location: Renaissance Dallas Addison Hotel in Addison, TX

Please make plans to join us and well over 450 of your peers for the best event anywhere. We will be in Dallas, TX,October 23-26, 2018.

Don’t miss out on the Early Bird Discount (When 2 people from the same firm register at the same time (item of equal or lesser value), the 3rd registrant can attend FREE of charge). Offer expires September 14th!

 

 

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, quotes, and videos enjoy…

 

 

 

“The moment you make a mistake in pricing, you’re eating into your reputation or your profits.”

     – Katharine Paine