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This Week in Pricing > 6/14/14

TWIP is a recap of the week’s top pricing strategy in the news and resources for pricing professionals. We also publish a daily digest of top pricing news, strategy expert and technology leader’s thought leadership and industry news and events.

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The Past Week’s Top Pricing Related Headlines

Why Your Sales Team is So Afraid of Price

thesaleshunter.com – The argument of price preventing sales is simply bogus.  What it comes down to is salespeople are afraid of price. Yes, they’re afraid! They’ve built up a huge defense mechanism to allow themselves…

Discovering the pricing power of value

mckinseyonmarketingandsales.com – In the past, pricing was not a skill we focused on, and we were not very sophisticated about it. We thought about increasing prices with inflation or growing price as much as possible, but there wa…

Beyond Uber, Venture Investors Predict Mainstream Surge Pricing

wsj.com – If you think prices for daily goods and services should stay fairly stable from one day to the next–or even one hour to the next–you may be in for a rude awakening. So-called surge pricing will soo…

Pricing and Brand Strategy

ama.org – Pricing sometimes is considered in isolation from the rest of marketing—for example, as part of the revenue management function—and it may appear that pricing managers can go about their business o…

Pricing, Billing, Costing: Don’t Blame Clients

cpatrendlines.com – Pricing an engagement is not an exact science and can never be perfectly done, but regardless of how it is done, things seem to work out for the client and accountant. A suggestion to better match …

How to Determine the Perfect Price Because the Lowest Never Wins

business.com – Let me tell you a pricing secret: Customers don’t really want the lowest price. There’s a ceiling customers won’t go above, but below that is often a broad range of prices they’re willing to pay. W…

Asos CEO: ‘Discounting is too much of a blunt tool’

marketingweek.co.uk – In international markets sales growth slowed to 17 per cent. Speaking on an analyst call yesterday (5 June), Robertson said the average selling price was down by around 8 per cent but in the eyes o…

Developing a Value-Based Pricing Model

ratchetandwrench.com – “But how do you do that? I can tell how not to: competing on price. If you’re trying to make all three parties happy—the customer, shop and team member—there’s just no way to do it on a low-price m…

How do you know the price is right? 8 Steps to better pricing

businessadviceserviceblog.com – A guest article from Bibi Martin of BM Interim Management Ltd. When we think about pricing  products or services the first question we often ask is “What should the price be?”. In fact what we shou…

Use Price Psychology to Sell MORE

business2community.com – Today, I continue my series on the impact of pricing on market performance. In recent posts, I showed how a high price might INCREASE sales, by making the product more desirable and how to use psyc…

How to Raise Prices and Increase Demand at the Same Time

startupcollective.com – Are you offering your customers more value than you are charging them for? When Pets.com collapsed in November 2000, it took $300 million in investment capital with it. In doing so, it became the p…

Thoughts on Introducing a Price Hike to Your Customers

catapultgroups.com – There may be times in your business’s sales cycle or growth phase that make a price increase more acceptable to customers. If, for example, your business is influenced by seasonal considerations (l…

How Does Feedback Affect the Price of a Product?

medium.com – When you take into account the cost of operating a business, paying your employees, providing benefits, taxes, office cost, equipment, etc., how you price your product or service can really make or…

Chipotle Gets Dinged by Social Consumers: Pricing Points Impact Social Guest Satisfaction

foodabletv.com – This SGS Score has shifted considerably over the past ten days with Chipotle, and pricing issue was the key problem area. In fact, Decision Set was impacted most by consumers that compare Chipotle …

Surviving the Price Wars in Emerging Markets: Three Myths and Three Lessons

pharmexec.com – In ancient Greece, King Pyrrhus of Epirus fought and defeated the Roman army twice during what is now known as the Pyrrhic wars. However, victory was achieved at an ultimately unsustainable cost be…

To price consistently or not: Consumers say “Yes!”

insights-on-business.com – Pricing strategies are gut-wrenching decisions in an omnichannel age.  Shoppers have tremendous visibility into price differences by channel, across retailers and brands and can punish retailers fo…

Why a supermarket price war is bad news for Britain’s ability to feed itself

theguardian.com – For consumers struggling with food bills, last week seemed to bring a glimmer of hope, as bad news for retailers promised good news on prices. Once again that leviathan of the high street, Tesco, r…

Freemium Apps – When Free Isn’t Really Free

androidheadlines.com – Freemium – a pricing strategy by which a product or service (typically a digital offering such as software, media, games or web services) is provided free of charge, but money (premium) is charged …

When Buyers Behave Irrationally

smallbizclub.com – Ruti Levy, in her Haaretz.com article Building blocks of high prices, cited the fact that Israelis are paying 3 to 3.5 times what they would online for Legos. Even when you factor in shipping and t…

Pricing power seen returning to steel producers

business-standard.com – After about two years, pricing power seems to have returned to steel companies. Now, primary steel producers are preparing to raise prices for this month. On Wednesday, NMDC announced a rise of Rs …

It’s Time to Embrace Congestion Pricing

gizmodo.com – An ambitious new transportation plan for DC announced last week includes a massive public transit expansion, additional subway line, and beefed up network of bike lanes. But the proposal that’s get…

blog.truvenhealth.com – Of course, in the current environment consumers tend to be price insensitive, due to the design of health benefits, and they can’t access marketplace pricing even if they were interested. Given the…

$83,000 In Savings On 3 Procedures – The Driver Of Transparency & Reference-Based Pricing

georgevanantwerp.com – At the front of the HealthLeaders Magazine, they have a FactFile every month with data from Truven Health.  The one from March 2014 focused on price variation and transparency.  I thought I’d share…

Three in Four Large Law Firms Now Employ Pricing Officers

virtual-strategy.com – NEW YORK, June 10, 2014 (GLOBE NEWSWIRE) — As U.S. law firms take a more analytic approach to pricing their services beyond traditional hourly billing rates, 76 percent of large firms now employ a …

Court tells Canadian feds: “you cannot control generic drug prices”

pharmatimes.com – It its ruling, the Court found that, under the terms of the Patent Act, the Board’s definition of Sandoz and Ratiopharm as patentees was unreasonable, and that it therefore had no such pricing juri…

EU Antitrust Officials to Examine Amazon, Hachette Dispute

gadgets.ndtv.com – The European Commission’s antitrust officials are investigating a row between online retailer Amazon and French publisher Hachette. Amazon has delayed the delivery of some Hachette Book Group title…

Recommended Resources for Pricing Professionals

Gartner, MarketScope for Price Optimization and Management Software for B2B: 2013, Chris Fletcher et al, 25 November 2013

As Pricing News’ mission is to help find the best resources and information for pricing professionals, click the link above to access a complementary copy of Gartner’s report.

The 2013 MarketScope for PO&M helps clients evaluate vendor software and service offerings, as well as align their price management strategies with the major trends affecting pricing professionals. The findings in the MarketScope are based on primary research conducted by Gartner, client interactions and inquiries on the multiple considerations that are part of developing a PO&M strategy, and Gartner research in technology and business adjacent to price management.

The PricingBrew Journal

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Whether you’re in sales, marketing, product management or a pricing professional, it’s important to stay up-to-date on the latest practices and research in B2B pricing—and get fresh perspectives and ideas that can help make your business (and career) more profitable.

The PricingBrew Journal is the only publication of its kind, providing a regular dose of real-world experience and insight from the PricingBrew research team and a global network of seasoned B2B pricing professionals and consultants. Every two weeks, subscribers get access to in-depth articles, training, research, best practices, case studies, expert interviews and educational webinars.

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About Pricing News

Pricing News is a sponsor supported organization dedicated to providing free high-value resources to pricing professionals. It is the source for daily and weekly digests of pricing strategy and industry newsevents, thought leadership articlesblogsreportsacademic research, and other resources and special offers. We also share highlights from top pricing discussions and publish articles from pricing practitioners in our Pricer’s Points blog series.

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Until next week,

Matt Balfour

Founder & Managing Director of Pricing News

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