This Week in Pricing > 6/23/18

pricingnews-WeeklyThis Week in Pricing is a collection of pricing focused news, thought leadership , events, jobs and professional education resources for pricers.

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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.

 

Top Headlines

Quebec Sets Higher Power Prices for Cryptocurrency Miners By Cryptovest | investing.com

Quebec Sets Higher Power Prices for Cryptocurrency Miners By Cryptovest | investing.com

In a bid to keep eager hordes of cryptocurrency miners at bay, Quebec will be increasing electricity prices until a more sustainable solution for catering to the growing demands of the energy-intensive industry can be found. As per a report by Bloomberg, the state-owned power generator Hydro-Quebec has been authorized to charge crypto and blockchain-related […]

 

McDonald’s Has Finally Solved the Value Menu Equation | The Motley Fool

McDonald’s Has Finally Solved the Value Menu Equation | The Motley Fool

Back when McDonald’s (NYSE:MCD) began offering its Dollar Menu, franchisees complained that it drove down their margins. The problem was that the menu offered extensive $1 choices that made it too easy for customers to construct a full meal from it for just a few bucks. Now, after multiple tries, it appears the fast-food chain […]

 

Pricing Perogative: Most Companies Call Pricing a High Priority, But 85 Percent Say They Have Significant Room for Improvement | Bain & Company

Pricing Perogative: Most Companies Call Pricing a High Priority, But 85 Percent Say They Have Significant Room for Improvement | Bain & Company

Bain & Company conducted a global survey of sales leaders, vice presidents of pricing, CEOs, CMOs and other executives at over 1,700 companies, collecting their self-rating of 42 pricing capabilities and outcomes to understand which pricing capabilities matter most. The analysis showed that top performers are more likely to exceed their peers primarily in three […]

 

Master the Challenges of Multichannel Pricing | MITSloan

Master the Challenges of Multichannel Pricing | MITSloan

Strategies to Win the Omnichannel Pricing Game Based on our initial research, we advise retailers to approach omnichannel pricing in three ways: Pricing teams need to focus on implementing price differential strategies. Deciding what prices to use for which channels starts with developing business rules that combine “hard facts” about price elasticity and competitive pricing, […]

 

Rombauer Vineyards shows how luxury wine can raise prices in discount world | North Bay Business Journal

Rombauer Vineyards shows how luxury wine can raise prices in discount world | North Bay Business Journal

“We weren’t focused on the next new fad on developing styles,” he said. “We were focused on varietal purity, making the purest expressions of any variety we were involved with and polishing them every year. That focus helped us become known as a very reliable, committed, serious provider of wines at a favorable price for […]

 

SaaS Pricing Strategy: Who’s your Hero? Who’s your Decoy? | CMO-as-a-Service

SaaS Pricing Strategy: Who’s your Hero? Who’s your Decoy? | CMO-as-a-Service

Pricing a SaaS Service is not very different from anything other Software Pricing Strategy. While you want to keep renewal friction at a minimum, all other “rules” of pricing psychology still apply. While most companies out there have intuitively embraced the ‘rule of 3’, I often encounter teams who don’t really know where this rule […]

 

Angry shippers accuse carriers of ‘price-signalling’ with ‘unjustified’ surcharges | The Loadstar

Angry shippers accuse carriers of ‘price-signalling’ with ‘unjustified’ surcharges | The Loadstar

The European Shippers Council (ESC) has accused container lines of price-signalling, following a wave of emergency bunker surcharges (EBSs). A letter to the European Commission claims the introduction of an EBS by “most of the largest” container lines at the start of June was “unjustified”. “Oil prices had indeed been rising during the last month, but the latest […]

 

Disneyland’s $299 Pixar Pier “Sneak Peek” is a Test for a Dynamic Pricing Model at the Theme Parks | WDW News Today

Disneyland’s $299 Pixar Pier “Sneak Peek” is a Test for a Dynamic Pricing Model at the Theme Parks | WDW News Today

On Friday, Disney is offering guests a chance to experience Pixar Pier a day before it opens to the public. The catch? Admission is $299 to spend six hours in the land. The Pixar Pier special event allows guests to experience the attractions, sample food from the land, and shop in the many stores, all […]

 

Uber is experimenting with letting riders wait longer for a cheaper fare | Quartz

Uber is experimenting with letting riders wait longer for a cheaper fare | Quartz

Good things come to those who wait for their Uber. The ride-hailing company has started testing a feature that gives riders the option to trade a shorter wait for a cheaper fare. “Prices are lower at 17:00,” Uber recently advised an Uber employee who requested a ride in Berkeley, California, and tweeted a screenshot of […]

 

A pay-what-you-can grocery store is opening its doors in The Junction neighbourhood | CBC News

A pay-what-you-can grocery store is opening its doors in The Junction neighbourhood | CBC News

From soups and salads to baked goods and fresh produce, stocking up on organic produce can often mean paying top dollar. But a pay-what-you-can grocery store set to open its doors in west-end Toronto is changing that. Chef Jagger Gordon, founder of Feed It Forward, is opening up what might be Toronto’s first such store on 3324 Dundas St. W. […]

 

 

 

More Headlines

 

Vt. Takes Aim at Prescription Drug Prices | Valley News

Vt. Takes Aim at Prescription Drug Prices | Valley News

Gov. Phil Scott has signed S.92, which features two different approaches to the state’s prescription problem: It requires more detailed financial reporting from insurers and drug companies; and it promotes lower-priced alternatives to expensive specialty drugs called biologicals. The statute — now labeled Act 193 — also calls for a group representing state government, pharmacies, […]

 

Want to help patients? Get rid of drug rebates, HHS chief says | FiercePharma

Want to help patients? Get rid of drug rebates, HHS chief says | FiercePharma

Drug rebates and list prices have been on a race to the top, and patients have paid the price. One solution, according to HHS Secretary Alex Azar? Sweep the rebate system aside entirely. “[E]verybody wins when list prices rise, except for the patients,” and overhauling the pricing system to remove drug rebates would help with […]

 

 

Transat: difficult to offset higher fuel prices with higher fares for customers | The Telegram

Transat: difficult to offset higher fuel prices with higher fares for customers | The Telegram

MONTREAL — Transat AT Inc. expects to have a more difficult summer season than last year as a result of a sudden increase in jet fuel prices since April and limited ability to pass along the cost to customers, senior executives told analysts Thursday. Annick Guerard, the travel company’s chief operating officer, said on a conference call that […]

 

Aspen first-hour parking rates increase on Monday | Aspen Daily News

Aspen first-hour parking rates increase on Monday | Aspen Daily News

Drivers parking in the Aspen core will pay $6 per hour at the meter between 11 a.m. and 2:59 p.m., but will be able to park for free for 15 minutes once a day, starting on Monday. Doubling the current peak season first-hour rate of $3 is the city’s latest effort related to “demand-responsive parking […]

 

How repositioning a product allows you to 8x its price | a smart bear

How repositioning a product allows you to 8x its price | a smart bear

Pricing is often more about positioning and perceived value than it is about cost-analysis and unconvincing ROI calculators. As a result, repositioning can allow you to charge many times more than you think. Here’s how. You’ve created a marketing tool called DoubleDown that doubles the cost-efficiency of AdWords campaigns. You heard that right folks — as a […]

 

How to set a pricing strategy that works for your business | Channel Pro

How to set a pricing strategy that works for your business | Channel Pro

A clear and consistent pricing strategy is vital for MSPs and VARs A pricing strategy is the method used to price products and services so that the volume sold produces sufficient margin to cover operating expenses as well as enough profit to meet business goals. A clear and consistent pricing strategy is vital for any […]

 

SRA expands price publication plans to new practice areas | Law Society Gazette

SRA expands price publication plans to new practice areas | Law Society Gazette

The Solicitors Regulation Authority has widened the areas of law under which firms will be required to publish prices – and firms have six months in which to comply. The regulator said today it had made the decision after ‘engaging with’ more than 21,000 members of the public and the profession. Under the plans, firms […]

 

 

Our 3 Top Tips for Smart Pricing | Crossover Technologies

Our 3 Top Tips for Smart Pricing | Crossover Technologies

Here at Crossover, we’ll harp on about sales reports and stock management until we fall off the back of the green. But, whilst these factors are essential to running a successful retail business, a pricing strategy is just as important, and unfortunately, is often overlooked. Pricing will have a profound effect on the success your […]

 

 

Microsoft offers charitable pricing for nonprofits | The Daily Star

Microsoft offers charitable pricing for nonprofits | The Daily Star

Microsoft has recently introduced charitable pricing for the nonprofit organisations in Bangladesh in line with its “Technology for social impact” initiative. The scheme was launched with the vision to accelerate transformation for nonprofits, the multinational technology company said in a statement yesterday. Under the initiative of charitable pricing, organisations eligible as nonprofits, will be able […]

 

Palm Desert council votes down Desert Willow resident golf rate changes | Desert Sun

Palm Desert council votes down Desert Willow resident golf rate changes | Desert Sun

After almost a year of study sessions, resident feedback and cost analysis research, the Palm Desert City Council rejected city staff’s recommendation to change resident prices at Desert Willow Golf Resort during Thursday night’s council meeting. For now, resident fees at the golf course will remain status quo, but the council is expected to take up the […]

 

Mumbai: Price capping for your taxi and auto rides to be delayed further | Hindustan Times

Mumbai: Price capping for your taxi and auto rides to be delayed further | Hindustan Times

City commuters are unlikely to get any immediate respite from surge-pricing of app-based taxis, black and yellow taxis and other taxi aggregators, as the recommendations made by the Khatua panel on controlling the surge in taxi fares will be given for fresh feedback. … The transport commissioner office has been asked to submit a report […]

 

 

Theme park pricing in focus | Seeking Alpha

Theme park pricing in focus | Seeking Alpha

Data show Disney still has room to increase regular pricing before generating significant consumer backlash, reports The Wall Street Journal’s Erich Schwartzel. Analysts have noted recently that Disney’s pricing structure gives some cover to Six Flags and Cedar Fair to become more aggressive on pricing. Read complete article here: Theme park pricing in focus – […]

 

India will pitch for responsible crude pricing: Pradhan | Deccan Herald

India will pitch for responsible crude pricing: Pradhan | Deccan Herald

India will pitch for ‘responsible’ crude pricing at the upcoming conference organised by oil producers’ cartel OPEC, Union Minister Dharmendra Pradhan said today. On the rising oil prices in the country, the minister assured that the government would leave no stone unturned to keep these products within the reach of the common man. “There will […]

 

What Individual Fare Pricing Means to Travel Agents | Travel Market Report

What Individual Fare Pricing Means to Travel Agents | Travel Market Report

The travel industry continues to talk about the advent of the IATA New Distribution Capability (NDC) and the concept of “dynamic pricing,” defined as the ability to price an airline service based on the known characteristics of the consumer seeking the service. Sometimes the “conversation” conflates NDC with artificial intelligence (AI) and excitedly predicts the […]

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Price cap on medical devices: Price-control as a regulatory philosophy fundamentally dents the image of a country | HealthWorld

Price cap on medical devices: Price-control as a regulatory philosophy fundamentally dents the image of a country | HealthWorld

India’s $5 billion medical device market may be going through an existential threat. The Indian healthcare industry has been registering a double-digit growth rate, with a CAGR of 17% in the last five years. However, India’s drug pricing authority – the National Pharmaceutical Pricing Authority (NPPA), notified the Medical Devices Rules, 2017, which has come […]

 

Satisfied Customers Increase Your Pricing Power | Strategic Pricing Solutions

Satisfied Customers Increase Your Pricing Power | Strategic Pricing Solutions

I recently played golf with two doctors, following which we discussed customer satisfaction and customer ratings.  One of the physicians, let’s call him Dr. Feelgood, expressed surprise that anyone would select a doctor based on ratings, and he lamented that negative ratings often reflected intangibles like staff friendliness and wait times, rather than quality of […]

 

Uber cab service increases fares in Egypt after recent fuel price hikes | Xinhua Net

Uber cab service increases fares in Egypt after recent fuel price hikes | Xinhua Net

CAIRO, June 18 (Xinhua) — Peer-to-peer ride hailing company Uber increased Monday its fare prices in Egypt to compensate for the recent hike in local fuel prices. “With events like the most recent fuel price increase a slight adjustment to our prices was made to ensure that your drivers continue to make a sustainable living […]

 

Tokyo Steel to hold product prices steady in July for 5th month | Nasdaq.com

Tokyo Steel to hold product prices steady in July for 5th month | Nasdaq.com

TOKYO, June 18 (Reuters) – Tokyo Steel Manufacturing Co Ltd, Japan’s top electric-arc furnace steelmaker, on Monday said it would hold product prices steady in July to ensure earlier hikes were absorbed by the market. That will mark the fifth straight month that the company has kept prices unchanged. Tokyo Steel’s pricing strategy is closely […]

 

How to Segment When All Customers Look Alike | Strategic Pricing Solutions

How to Segment When All Customers Look Alike | Strategic Pricing Solutions

Customer segmentation is a simple concept – identify groups of customers who tend to have similar levels of price sensitivity and set distinct prices for each group.  Unfortunately, many companies either think all their customers are the same, or they don’t have enough information to create segments.  In particular, we often see this in retail […]

 

Bitcoin, Ethereum, Bitcoin Cash, Ripple: Weekly Price Analysis And Prediction, June 18 | cryptona

Bitcoin, Ethereum, Bitcoin Cash, Ripple: Weekly Price Analysis And Prediction, June 18 | cryptona

From the price analysis, all the four major coins have had a rough time during the previous week. According to last week’s news, ripple wants to make an investment of $2 million in the Blockchain Research Initiative in the funding of the Blockchain based projects. Walmart now has a new Blockchain patent. Italian authorities were […]

 

 

June 19 – Soybean Prices Crater Under 9$ as Trade War Escalates | FarmLead

June 19 – Soybean Prices Crater Under 9$ as Trade War Escalates | FarmLead

The Trump administration delivered another blow to soybean prices Tuesday. The entire grain complex was deep in the red after the administration threatened to hit more than $200 billion in Chinese imports with a 10% tariff. The threat came days after China announced retaliatory levies on U.S. goods after Trump’s first round of tariffs. Let’s […]

 

Taxis decry ‘unlevel playing field’ in city ride share rules | 650 CKOM

Taxis decry ‘unlevel playing field’ in city ride share rules | 650 CKOM

Among the differences between the two industries in the proposed regime: Ride sharing wouldn’t require an in-car camera, while taxis do Ride sharing base fares would start at $3.10 — taxis start at $3.75 Only taxis would be able to stay at taxi stands and pick up street hailers Individual ride share drivers wouldn’t be required […]

 

MBTA to try surge pricing for parking | CommonWealth Magazine

MBTA to try surge pricing for parking | CommonWealth Magazine

THE MBTA PLANS to adjust rates at its 99 parking facilities starting August 1 in a way that hikes prices at its busiest garages during the week and lowers them when and where customers are scarce – on weekends and at certain lots. The rate changes will be the first in 10 years at the […]

 

Ken Buck Leads Bipartisan Letter Calling for Fair and Transparent Aluminum Pricing | Longmont Observer

Ken Buck Leads Bipartisan Letter Calling for Fair and Transparent Aluminum Pricing | Longmont Observer

Washington, D.C. – Today, Congressman Ken Buck led a bipartisan letter, signed by 31 of his colleagues, requesting that Attorney General Jeff Sessions examine possible antitrust violations occurring in the U.S. aluminum market. Presently, end users of aluminum pay a price set in part by the Midwest Transactional Premium, or MWTP, used to factor in the […]

 

Pirates in Your Pocket! Innovative Travel App Offers Personalized Deals in Real Time | PR Web

Pirates in Your Pocket! Innovative Travel App Offers Personalized Deals in Real Time | PR Web

Users can find a video demonstrating the app on YouTube. In addition to curated deals, the app’s “Booking” page features transparent flight and hotel price comparisons as well as a vacation booking engine, which allows users to secure deeply-discounted rates when booking a hotel bundled with a flight. Since the company launched in the U.S. […]

 

SUPREME COURT CONFIRMS UAH 431 MLN FINE IMPOSED ON LARGEST CIGARETTE DISTRIBUTOR TEDIS | Open 4 Business

SUPREME COURT CONFIRMS UAH 431 MLN FINE IMPOSED ON LARGEST CIGARETTE DISTRIBUTOR TEDIS | Open 4 Business

“The Supreme Court has decided in favor of the Antimonopoly Committee in a long lawsuit concerning Tedis, the distributor of cigarettes. The decision of the committee dated December 16, 2016 was retained with the exception of a little clarification regarding the way of fulfilling the obligation to establish a transparent pricing mechanism,” he wrote on […]

 

Mayor vetoes bill that sought to limit ‘surge pricing’ for ride | Hawaii News Now

Mayor vetoes bill that sought to limit ‘surge pricing’ for ride | Hawaii News Now

HONOLULU (HawaiiNewsNow) – Honolulu Mayor Kirk Caldwell vetoed a bill Tuesday that would have made Honolulu the first city in the nation to cap how much private transportation companies — like Uber and Lyft — can charge during peak hours. Caldwell says the bill, which was passed the city council earlier this month, fell short […]

 

Airbnb commits to more transparent pricing | The Budapest Business Journal

Airbnb commits to more transparent pricing | The Budapest Business Journal

The GVH launched a procedure against Airbnb in October 2016 on suspicion that information on pricing it provided to consumers was misleading. Airbnb has committed to display on its Hungarian website the total price of lodging, including cleaning fees and fees for additional guests, once customers enter the dates of their planned stay, national news […]

 

Gatorade is going sugarless for the first time in its 53-year-history | CNN Money

Gatorade is going sugarless for the first time in its 53-year-history | CNN Money

Read complete article here: … Pepsi’s Nooyi didn’t mention BodyArmor on its last earnings call, but she said a “new competitor” had dropped prices and chipped away slightly at Gatorade’s market share when it first landed on shelves. Yet Gatorade is trying to play the long game. It plans to hold prices steady, even if […]

 

 

Federal Reserve Branch Adds Cryptocurrency Price Indexes [Yes, Really] | CCN

Federal Reserve Branch Adds Cryptocurrency Price Indexes [Yes, Really] | CCN

Announced on Tuesday, the Federal Reserve Economic Data (FRED), a database curated by the St. Louis Fed, will now include pricing data for bitcoin (BTC), ethereum (ETH), bitcoin cash (BCH), and litecoin (LTC), going back to as early as 2014 in the case of bitcoin. Source: Federal Reserve Bank of St. Louis Data points are […]

 

 

 

 

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 Description

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

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!

14th Annual PPS European & Global Pricing Conference & Workshops | PPS

Date: November 28-30, 2018

Location: Mövenpick Hotel Amsterdam City Centre in Amsterdam, Netherlands

The Professional Pricing Society team and I are very proud to announce that we will be returning to Amsterdam for our next great event – The 14th Annual PPS European & Global Pricing Conference & Workshops held 28-30 November.

Conference keynotes, breakout sessions, and networking opportunities highlight the conference day on 30 November; While 28-29 November will be used for workshop days to help you enhance your pricing knowledge.

 

 

 

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…

 

 

“You can determine the strength of a business over time by the amount of agony they go through in raising prices.”

     – Warren Buffett