This Week in Pricing > 6/9/18

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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Professional Pricing Society

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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Top Headlines

Prospecting Dilemma: The Question About Price | Mark Hunter

Prospecting Dilemma: The Question About Price | Mark Hunter

How quickly should the topic of price come up in a prospecting call?  I’m sure you’ve faced this issue. You’re having a first or second conversation with a prospect and the issue of price comes up, and suddenly you’re in a prospecting dilemma about what to do next. Have you ever parked your car in […]

 

Bar in KL Gets Massive Backlash Due to Increased Prices Despite GST Removal | WORLD OF BUZZ

Bar in KL Gets Massive Backlash Due to Increased Prices Despite GST Removal | WORLD OF BUZZ

A restaurant in Bangsar has come under fire for an increase in prices of their food, even though they’ve removed the 6% GST. Netizens exclaimed that by right, with the removal of GST, business owners should not be hiking their prices instead. The government body acted swiftly and sent officers over to the establishment to […]

 

White House to Impose Metal Tariffs on E.U., Canada and Mexico | The New York Times

White House to Impose Metal Tariffs on E.U., Canada and Mexico | The New York Times

Along with fighting the tariffs at the World Trade Organization, European officials have been preparing levies on an estimated $3 billion of imported American products in late June. In a joint statement, ministers from France and Germany said the countries would coordinate their response. “Global trade is not a gunfight at the O.K. Corral,” Bruno […]

 

Petrol prices stable to March, but now hitting four-year highs | ACCC

Petrol prices stable to March, but now hitting four-year highs | ACCC

Drivers feeling the pinch of high petrol prices should use price cycle information and fuel price websites and apps to shop around, as petrol prices in some cities reached their highest levels in almost four years in May. Average petrol prices in Australia’s five largest cities (Sydney, Melbourne, Brisbane, Adelaide and Perth) remained broadly stable […]

 

When Customers Are — and Aren’t — OK with Personalized Prices | Harvard Business Review

When Customers Are — and Aren’t — OK with Personalized Prices | Harvard Business Review

There’s a lot of buzz around price differentiation these days, especially with the spotlight on AI and big data.  Machine learning makes it much easier to customize the marketing of products and services – and that includes the price. Let’s be clear: price differentiation is not a new phenomenon. We encounter it regularly and, as consumers, often profit […]

 

Mary Meeker on healthcare consumerization driving down costs | CNBC

Mary Meeker on healthcare consumerization driving down costs | CNBC

People are spending more on healthcare than ever before, Meeker’s data shows, and people are starting to view it with the same expectations that they would have for other consumer products, including desires for on-demand access and transparent pricing. Technology companies, from startups to top firms, have started to fill gaps and provide solutions. Major […]

 

Pricer’s Points: eCommerce & Pricing: Threat or Opportunity? | Thomas Igou

Pricer’s Points: eCommerce & Pricing: Threat or Opportunity? | Thomas Igou

I had the fantastic opportunity to moderate a roundtable discussion on the topic at the 6th Annual Manufacturing Pricing Excellence in Milan and listen to different viewpoints. The one common thread among all pricing leaders in the face of the growth of ecommerce: “we cannot lose control of our prices.” There was no common thread, however, on […]

 

Software and stealth: how carmakers hike spare parts prices | Reuters

Software and stealth: how carmakers hike spare parts prices | Reuters

LONDON/PARIS (Reuters) – Carmakers including Renault, Jaguar Land Rover and Peugeot have boosted revenues by over $1 billion in the past decade by using sophisticated pricing software, according to sales presentations prepared by the software vendor, Accenture, and other documents filed in a court case. The software works, Accenture told prospective clients, by identifying which […]

 

Prices that insurers pay can help end hospital price gouging | TheHill

Prices that insurers pay can help end hospital price gouging | TheHill

Last month the Texas Supreme Court decided In Re Cypress Medical Center, a case focused on whether the payments hospitals receive for insured patients are relevant to determining the price an uninsured or out-of-network patient must pay. The question of how to measure the reasonable and customary value of health care services is being raised […]

 

De Beers to Begin Selling Lab-Created Stones | Pret-a-Reporter

De Beers to Begin Selling Lab-Created Stones | Pret-a-Reporter

If you’ve ever longed for a pair of princess-cut pink diamond studs, but you experience sticker shock over the price of fancy-colored diamonds, Lightbox Jewelry is offering an alternative you may not be able to refuse. On Tuesday afternoon in New York, De Beers announced the launch of Lightbox by Element Six, a new company […]

 

Price Transparency Worsens Despite Recent Efforts | Medpage Today

Price Transparency Worsens Despite Recent Efforts | Medpage Today

Calling 120 hospitals to seek the lowest bundled price (including all hospital and physician fees) for a potential patient’s total hip arthroplasty in 2016, Safiyyah Mahomed, of Toronto General Hospital, and colleagues found that they were only given one in 6.7% of cases (down from 15.8% in 2012, OR 0.2, 95% CI 0.0-0.8). They had […]

 

 

More Headlines

Ripple CEO: Bitcoin’s influence over cryptocurrency prices is almost over | The Next Web

Ripple CEO: Bitcoin’s influence over cryptocurrency prices is almost over | The Next Web

Since their inception, altcoin prices have mostly risen and fallen with the price of Bitcoin. According to Ripple CEO Brad Garlinghouse, those days are numbered. “There’s a very high correlation between the price of [Ripple] and the price of bitcoin, but ultimately these are independent open-sourced technologies,” Garlinghouse told CNBC. “It’s early, over time you’ll […]

 

The Grab effect, Brunch | THE BUSINESS TIMES

The Grab effect, Brunch | THE BUSINESS TIMES

Pink for surge pricing Danis Lou, passenger experience design lead, believes that design is key to problem-solving. He leads a team that is responsible for the look and feel, and user experience, of the Grab rider app. Recently redesigned, the app now boasts a softer colour palette that retains Grab’s iconic shade of green and […]

 

Shipware announces robust, innovative pricing technology solution | FreightWaves

Shipware announces robust, innovative pricing technology solution | FreightWaves

Shipware, leading parcel & LTL spend management solution providers, announced this week the launch of its proprietary machine-learning software, Krystal AI. Krystal AI will improve operations and optimize carrier pricing by equipping customers with unique insights and customized data points generated by a combination of the industry’s most robust database and over 200 combined years […]

 

Kolkata: Yellow cabs take tech route to fleece you | Times of India

Kolkata: Yellow cabs take tech route to fleece you | Times of India

Yellow cab driver Kapila Routh, who lives in Chowbagha, said, “Look at the diesel prices. At over Rs 70 a litre, do you think we can afford to drive cabs on meter? Most of us are struggling to make ends meet because we don’t own the cars. After paying our daily rentals to the owners, […]

 

U.S. Steel Prices on Knife’s Edge as Tariff Deadline Nears | WSJ

U.S. Steel Prices on Knife’s Edge as Tariff Deadline Nears | WSJ

U.S. steel prices won’t stop breaking away from those in Asia and Europe, in a rally driven by confusion about what Washington’s import tariffs will look like. The rise in U.S. prices has come ahead of the June 1 deadline for many major exporting countries to negotiate deals that would at least partially exempt them […]

 

June 4 – Trade War Tantrum Hits Soybean Prices | FarmLead

June 4 – Trade War Tantrum Hits Soybean Prices | FarmLead

Grain prices started the week deep in the red thanks to ongoing concerns about Chinese-U.S. trade relations and the wave of favorable weather across the United States. Improving forecasts pulled wheat prices down more than 3%, while soybean prices slumped after trade discussions between the world’s two largest economies offered little progress. Let’s take a […]

 

Australia beach town, Agnes Water All Set To Become Australia’s First Digital Currency Town | CoinGape

Australia beach town, Agnes Water All Set To Become Australia’s First Digital Currency Town | CoinGape

Tourism industry: A front-runner in adapting cryptocurrency Not just in Australia, a lot of countries are accepting or at least testing cryptocurrencies to boost their tourism. Caribbean nations were reported to be considering cryptocurrency to up its tourism offerings. Russia’s tourism officials have given multiple statements on the use of blockchain in transforming the tourism […]

 

City or country: Where will reference-based pricing work best? | Employee Benefit Adviser

City or country: Where will reference-based pricing work best? | Employee Benefit Adviser

Benefits brokers know that healthcare is local. When it comes to alternatives to a fully-funded benefit strategy, brokers typically consider new ideas and plan designs in the context of whether it will work in their specific market. Reference-based pricing, which is changing the way self-funded employers pay for healthcare, is no different. Brokers on the […]

 

New Rules Require Brokers To Disclose Commissions On Bond Trades | Forbes

New Rules Require Brokers To Disclose Commissions On Bond Trades | Forbes

I cannot count how many times I’ve heard investors brag about all their no commission bond trades. Maybe they thought if they said it enough times, it would come true. It is not true now, nor has it ever been true. The regulators allowed the industry to drag its feet for years—until May 14, 2018. […]

 

Conveyancers may have to publish prices, services and… | Estate Agent Today

Conveyancers may have to publish prices, services and… | Estate Agent Today

As the process of making buying and selling more transparent continues to gather pace, the body that regulates conveyancers says it is to mandate firms to publish their service standards and prices online. The Council for Licensed Conveyancers says this is to help consumers make informed choices when they need a lawyer, and to encourage […]

 

A Surgical Approach To High Prescription Drug Prices | Forbes

A Surgical Approach To High Prescription Drug Prices | Forbes

President Trump’s plan to lower prescription drug costs uses a surgeon’s scalpel to address a range of issues, offering nearly 30 policy recommendations to modernize payment policies, weed out counter-productive regulations, improve price transparency, and expand competitive price negotiations. The plan reflects the complexity of the industry and the regulatory system that governs government approval and […]

 

Maine Turnpike To Consider Options To Alleviate Portland Traffic | WCYY

Maine Turnpike To Consider Options To Alleviate Portland Traffic | WCYY

So the Maine Turnpike Authority has posted a list of 12 alternatives to their website, some of which could be eye-opening in terms of cost and change to the way of life. For instance, alternative #3 would add surge pricing to the Maine Turnpike. That means during the busiest hours, 7am-9am and 4pm-6pm, toll pricing […]

 

Trust and pricing: a complex relationship | Utility Week

Trust and pricing: a complex relationship | Utility Week

In response to the ongoing issues with trust, Utility Week established the Customer Trust Council in 2017, in association with WNS Global Services (WNS). It works with energy suppliers, networks, water companies and consumer representatives to explore what has gone so badly wrong – and what the industry can do to fix it. At the […]

 

Three psychological pricing hacks to improve sales performance | 9 Spokes

Setting prices can feel like a gamble. You want to entice your customers with the illusion of a deal but also meet your margins and grow your business. How should a small business move forward? Why not take a cue from our friends Ben and Sigmund….. Benjamin Franklin is credited with the saying “a penny […]

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Product Gems: Car Sales 101: Anchoring | Product Gems

Product Gems: Car Sales 101: Anchoring | Product Gems

Very few buyers expect to pay the full advertised price for a new car. Walking into the showroom you’re confident of negotiating a good deal, remembering that one time you haggled for some souvenirs in a bazaar on holiday. You see the price sticker in the car window. Of course, you’re not going to pay […]

 

Will Dynamic Pricing Change Sales of Car Parts? | PYMNTS.com

Will Dynamic Pricing Change Sales of Car Parts? | PYMNTS.com

Dynamic pricing has produced more than $1 billion in revenue for automakers over the last decade, according to a report from Reuters this week (June 3). The account of that earnings boost not only reveals how the process works, but raises questions about how the use of pricing software might change the automotive and insurance […]

 

High aluminum price will affect more than the cost of your 6-pack | TheHill

High aluminum price will affect more than the cost of your 6-pack | TheHill

The last few months have seen rare volatility across the price of aluminum in markets around the world. History shows that trade wars, sanctions and the fear of commodity scarcity have long been factors to incite a buying rush in physical commodities. When a number of these come together — as they have in the […]

 

Parking Policy Is Hot, Thanks to Donald Shoup | CityLab

Parking Policy Is Hot, Thanks to Donald Shoup | CityLab

Your new book is full of recent success stories about cities enacting parking reforms—like parking benefit districts, maximum parking requirements, and dynamic pricing—from Houston to London to Beijing to Pasadena. Do you take pleasure in seeing policies born of all your years of under-the-radar labor finally taking hold? It’s been 13 years since my first […]

 

Who Started The Price War? | Modern Distribution Management

Who Started The Price War? | Modern Distribution Management

There are literally hundreds of studies, books and seminars on distribution pricing. They all have catchy titles like “How to stop price wars before they start,” “How to win the price war,” and “How to improve your team’s negotiation and price augmenting skills.” But who started your price war, anyway? On average, when distribution leaders […]

 

Whistleblower files lawsuit against CVS Caremark for falsifying drug prices | wkyc.com

Whistleblower files lawsuit against CVS Caremark for falsifying drug prices | wkyc.com

In fact, we announced in March (https://cvshealth.com/newsroom/press-releases/cvs-health-kept-drug-price-growth-nearly-flat-and-improved-medication) that in 2017, we kept drug price growth nearly flat for our PBM clients, despite manufacturer price inflation near 10 percent. Annual out-of-pocket costs for PBM members also declined, with three out of four members spending less than $100 out of pocket for their prescriptions, and nearly 90 […]

 

Apple Reportedly Upgrading Screens for All New iPhone Models: What It Means | TheStreet

Apple Reportedly Upgrading Screens for All New iPhone Models: What It Means | TheStreet

Apple Inc.’s (AAPL – Get Report) new iPhones will reportedly all have OLED screens in a move that may indicate the tech giant is doubling down on its premium pricing strategy. The South Korea’s Electronic Times reported on May 28 that several new iPhone models will be using the OLED screens, which are brighter, more power-efficient […]

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Amazon’s jewellery festival from May 27 | Deccan Herald

Amazon’s jewellery festival from May 27 | Deccan Herald

Some of the deals and offers include up to 10% off on gold coins, up to 50% off on making charges on gold jewellery, 100% off on making charges on diamond jewellery and up to 50% off on silver selection. The customers can also go through a detailed price break up across the pricing components […]

 

At The Bottom Of Retail Pricing Holes | Forbes

At The Bottom Of Retail Pricing Holes | Forbes

I’ve covered pricing in retail for a long time, almost since the advent of the price optimization techniques that are now ante to the margin game in retail. And while it’s getting a bit old to talk about the impact of the Great Recession on retail, one of the lingering effects has been retailer reliance […]

 

State Policies to Address Prescription Drug Prices | Center for American Progress

State Policies to Address Prescription Drug Prices | Center for American Progress

Over the past few years, high and rising prescription drug prices have generated significant controversy. Large, bipartisan majorities of the public support increased government action to reduce drug prices.1 However, little action has been taken at the federal level to reduce prices. Despite President Donald Trump’s repeated promises during the campaign to crack down on […]

 

Coin-Op 101: The Upside of Full-Cycle Tumbler Pricing (Conclusion) | American Coin-Op

Coin-Op 101: The Upside of Full-Cycle Tumbler Pricing (Conclusion) | American Coin-Op

SPRINGFIELD, Mo. — What really makes the laundry business great is the flexibility that comes with it. Owners can decide what amenities to offer based on their clientele and market. The variations of store sizes and machine capacity offerings alone are examples of just how much this business is not one-size-fits-all. Then there are payment […]

 

American Airlines warns of fare increases if oil remains high | Reuters

SYDNEY (Reuters) – American Airlines <AAL.O> warned airline passengers may eventually face higher ticket prices if oil prices remain high, prompting carriers to remove seats from the market. Oil prices have risen around 50 percent compared to the levels seen last year and that is putting pressure on airline profits. “If it becomes clear this […]

 

Should Retailers Match Their Own Prices Online and in Stores? | Harvard Business School

Should Retailers Match Their Own Prices Online and in Stores? | Harvard Business School

While shopping for my 10-year-old daughter’s Halloween costume last October, I pulled out my smartphone and hopped online to see if the store offered the same crayon costume in more colors than it had on the rack. I was surprised to see that the outfit I was holding in my hand was $10 cheaper online—from […]

 

Uber, Lyft drivers pinched by higher gasoline prices | AFP

Uber, Lyft drivers pinched by higher gasoline prices | AFP

After a two-year dive, oil prices began recovering in spring 2016 and have stayed higher amid OPEC production agreements and rising global demand. The oil market has recently gotten a lift from the uncertainty generated by the US pullout from the Iran nuclear accord and by ongoing strife in Venezuela. Under the systems set up […]

 

How incentives in the gig economy put workers at risk | Philly

How incentives in the gig economy put workers at risk | Philly

Uber does not specifically introduce incentives to get drivers out in bad weather, said Danielle Filson, a spokeswoman for the company. But its surge pricing, where rates can balloon more than three times the baseline in the event of a situation like a snowstorm, acts as a de facto encouragement, since demand often increases in bad weather. […]

 

 

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

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.

 

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Pricing Resources

Explore our collection of valuable pricing resources including:

 

The following is a daily-dose of pricing cartoons, quotes, and videos enjoy…

 

 

 

“People want economy and they will pay any price to get it.”

     – Lee Iacocca