OnDemand WTP Pricing Research

This Week in Pricing > 7/13/19

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

This Edition is brought to you by:

PriceBeam

The struggle is real for B2B and B2C Pricing, Marketing, and Finance team leaders to capture fresh, reliable, and actionable Pricing Intelligence data to be able to effectively optimize all prices for all market segments GLOBALLY.

  • Are you confident that you have the right price for your existing products or services in every market?
  • Do you know what the price should be for a new product yet to be launched, or existing products into new markets?
  • Do you know what features are REALLY driving your customers willingness to pay by micro-market segment?
  • Do you have the tool to capture the data required to support REAL value-based pricing?

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White House Pulls the Plug on Proposed Drug-Rebate Overhaul | Bloomberg

White House Pulls the Plug on Proposed Drug-Rebate Overhaul | Bloomberg

The White House abandoned a push to end rebates paid to middlemen who negotiate drug prices on behalf of health insurers, a move that could turn scrutiny back on how drugmakers themselves set prices. President Donald Trump has made lowering prescription-drug costs a top priority of his administration, and ending rebates was seen as a […]

 

It’s Not Your Job to Save Your Customers Money. Here’s How to Overcome the Anxiety of Pricing | Inc.com

It’s Not Your Job to Save Your Customers Money. Here’s How to Overcome the Anxiety of Pricing | Inc.com

I call it the “Pricing Panic.” It’s when you are talking to a client about pricing, and you assume that there’s no way they’ll ever pay your price, so you start thinking of ways to discount the price before the conversation even starts. It’s one of the most challenging things about starting a business, especially a […]

 

Airbnb comes clean on pricing after enforcement action threat | The Irish Times

Airbnb comes clean on pricing after enforcement action threat | The Irish Times

Airbnb has amended the way it presents pricing information to consumers after the European Commission took it to task for not being transparent enough on the total cost of bookings. The commission said the online home share company had agreed to clarify the way it presents accommodation offers on its platform to ensure it complies […]

 

Pricer’s Points: How to price – People | Jon Poley

Pricer’s Points: How to price – People | Jon Poley

This article is about getting your people and organisation right to optimise your pricing. Following articles on Governance and Strategy, it’s the next most important pillar in the series “How to price” looking at how to deliver your organisation’s pricing ambitions. Have someone wake up thinking about pricing every day. Outside of insurance and a […]

Job: Principle Pricing Analyst | Worldpay

Job: Principle Pricing Analyst | Worldpay

Description Principle Pricing Analyst The Company Worldpay is a global payments leader powering international commerce with deep fintech expertise and a shared passion for our customers. Whether in-store, online, or on a mobile device, we process over 40 billion transactions annually and offer more than 300 payment methods supporting 126 currencies across 146 countries. It’s […]

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DC sues Marriott over resort fees, alleging ‘price deception’ | ABC News

DC sues Marriott over resort fees, alleging ‘price deception’ | ABC News

Washington D.C. is suing Marriott for alleged “price deception” in its practice of charging “resort fees” that aren’t disclosed to customers upfront when they are booking their rooms. D.C. Attorney General Karl Racine filed a lawsuit against the world’s largest hotel chain on Tuesday for allegedly reaping “hundreds of millions of dollars” using an unlawful […]

5 Questions to Consider When Pricing Smart Products | Harvard Business Review

5 Questions to Consider When Pricing Smart Products | Harvard Business Review

Imagine you are the CEO of an oral care company and you have been selling a product called the Power Brush 2000, a good electric toothbrush. Your revenue model was likely focused on profiting from selling the toothbrush with some creative pricing coming from the replacement heads (a typical “razor-razorblade” model perhaps with a subscription […]

 

Vue cinema in Carmarthen cuts ‘unacceptable’ ticket prices | BBC News

Vue cinema in Carmarthen cuts ‘unacceptable’ ticket prices | BBC News

A cinema chain has reduced its ticket prices in a town following criticism from customers. Vue in Camarthern had faced a backlash, particularly from parents, over “unacceptable” ticket costs. A family of four wanting to watch a film in Carmarthen had faced paying £34.16, when the same tickets at Vue in Cardiff came to £19. […]

 

Five Questions About Price Transparency [Video] | AAF

Five Questions About Price Transparency [Video] | AAF

This week, Christopher Holt explains in a brief video the intention behind encouraging price transparency in health care — as well as the challenges that come with such transparency. CHART REVIEW Tara O’Neill Hayes, Deputy Director of Health Care Policy Congress is considering reforms to the Medicare Part D benefit structure, including potentially changing the […]

 

Toyota Corolla sales slump as car rental companies shift to Kia and Hyundai | CarsGuide

Toyota Corolla sales slump as car rental companies shift to Kia and Hyundai | CarsGuide

Toyota has lost a massive rental car fleet contract that has put an 1800-car dent in its annual sales and contributed to an 8.5 per cent slide in year-to-date results. After 20 years with Corollas, one of the nation’s biggest independent rental car businesses has shifted orders to other manufacturers led by Hyundai and Kia. […]

 

China’s top steel mills create group to probe surging iron ore prices – document | Hellenic Shipping News Worldwide

China’s top steel mills create group to probe surging iron ore prices – document | Hellenic Shipping News Worldwide

China’s leading steel companies have formed a group to investigate whether “non-market factors” are causing a record surge in iron ore prices and have called on the government to maintain market stability. Executives from eight steel firms representing 30% of China’s steel output, including China Baowu Group, HBIS Group, Jiangsu Shagang Group and Ansteel Group, […]

 

Oyo Is Betting U.S. Strategy on Aggressive Dynamic Pricing | Skift

Oyo Is Betting U.S. Strategy on Aggressive Dynamic Pricing | Skift

Oyo Hotels & Homes may be racking up the investment dollars to expand quickly outside of its home market of India. But the secret behind the company’s early success is its use of data science to ensure high occupancy for its hotel partners. Oyo changes hotel room rates 15 million times per day, according to […]

 

Donald Trump says ‘favored-nations clause’ on drug prices is on its way | UPI

Donald Trump says ‘favored-nations clause’ on drug prices is on its way | UPI

July 5 (UPI) — President Donald Trump on Friday said his administration intends to announce a plan to decrease prescription drug costs based on the lowest price other countries pay. He called it a “favored-nations clause.” “As you know, for years and years, other nations paid less for drugs than we do,” he told reporters […]

Elon Musk: Tesla will stop selling cars [Update: at consumer pricing] once full self-driving is solved | Electrek

Elon Musk: Tesla will stop selling cars [Update: at consumer pricing] once full self-driving is solved | Electrek

Tesla CEO Elon Musk has been talking a lot about Tesla Network lately, part of Tesla’s “Master Plan, Part Deux” which will enable Tesla cars with full self-driving hardware to operate as autonomous robotaxis to generate revenue for owners and for Tesla itself. This is all still a ways off, but that hasn’t stopped Musk […]

 

Apartment rental prices are so high, Czechs are now moving to Germany | Expats Czech Republic

Apartment rental prices are so high, Czechs are now moving to Germany | Expats Czech Republic

Did you hear the one about Czech apartment prices? Rental costs have gotten so high, Czechs are now moving to Germany. (Ba-dum ching.) It sounds like the punchline to a bad joke, but it’s now a reality in the Czech Republic in areas near the German border, reports Česká televize. In Liberec, the Czech Republic’s […]

 

Perfecting Your Amazon Prime Day Strategy from Start to Finish | MarTechSeries

Perfecting Your Amazon Prime Day Strategy from Start to Finish | MarTechSeries

What to do DURING Prime Day It might sound nice to sit back and watch the action of Prime Day rollout, but unfortunately, products don’t sell themselves. The marketplace is too competitive to let listings be without adjusting them throughout the days based on consumer activity. Monitor competitors’ prices at each hour to ensure price […]

 

Judge axes price disclosure rule for drug ads | Modern Healthcare

Judge axes price disclosure rule for drug ads | Modern Healthcare

The Trump administration cannot force drug manufacturers to disclose prices in their pharmaceutical ads to consumers, a federal judge ruled Monday. U.S. District Judge Amit Mehta said HHS didn’t have the authority to require drugmakers to publish list prices, a blow to the administration’s strategy to curb pharmaceutical costs. The agency hoped the final rule […]

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.

 

15th Annual European and Global Pricing Workshops & Conference November 27-29, 2019 in Berlin, Germany | PPS

We are excited to announce we’ll be in Berlin, Germany for our 15th Annual European and Global Pricing Workshops & Conference to be held November 27-29, 2019!

 

“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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