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This Week in Pricing > 7/6/19

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:

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…

 

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

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

It seems that strategy is one of the most complex and nebulous subjects and developing a pricing strategy is no easier. To help, as with the rest of the articles in this “How to price” series, here are 5 actionable items to make your pricing strategy work. I’ve drawn on lessons from chess and quotes […]

 

Consumers are less willing to pay for organic wine when given more info | Earth.com

Consumers are less willing to pay for organic wine when given more info | Earth.com

From the shampoo we put in our hair to the wine we drink, the ingredients that go into products can seem like an enigma for consumers. That’s why many people will pay top dollar for products labeled “organic” or “made from natural ingredients.” While we may put a lot of faith in a label, a […]

 

China seafood firm promises more pricing transparency with new trading platform | SeafoodSource

China seafood firm promises more pricing transparency with new trading platform | SeafoodSource

A major Chinese shrimp producer has set up an online trading platform it’s hoping will bring more price transparency to China’s seafood market. The Bohai Seafood Commodity Trading Platform is being readied for launch by the Bohai Aquatic Products Co. Ltd. (it also uses the English name Bohai Seafoods), which is part of a larger […]

 

New State Law Aiming To Lower Prescription Drug Prices Takes Effect | CBS Baltimore

New State Law Aiming To Lower Prescription Drug Prices Takes Effect | CBS Baltimore

BALTIMORE (WJZ) — A state law taking effect in Maryland Monday will take on large pharmaceutical companies by creating a prescription drug affordability board tasked with tackling rising prescription costs. Board members will be fighting to make prescription drugs more affordable in the state, including putting a cap on prices for some medications. The law […]

 

Bitcoin, The Dollar And Facebook’s Cryptocurrency: Price Volatility Versus Systemic Volatility | Forbes

Bitcoin, The Dollar And Facebook’s Cryptocurrency: Price Volatility Versus Systemic Volatility | Forbes

Bitcoin’s price swung wildly this week, causing many to conclude bitcoin is unstable. But this conclusion misses a key nuance: Bitcoin was designed for systemic stability, not for price stability. Indeed, as a system Bitcoin is highly stable even though its price may not be. Bitcoin is the opposite of fiat currencies, which generally exhibit […]

 

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

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

In my experience nothing works well in pricing without getting governance right – I’ve seen smaller SMEs focus elsewhere and large enterprises assume their corporate governance will cover the specifics of pricing. If you want to be sure you’re not risking a lot or leaving money on the table by then please do read on. […]

 

Pricing and distribution havoc hits in-destination with rise of OTAs: Klook’s Fan predicts shift to dynamic pricing | WIT

Pricing and distribution havoc hits in-destination with rise of OTAs: Klook’s Fan predicts shift to dynamic pricing | WIT

She added, “I am careful about where I want my brand to be seen. I sell tickets on Google and I pay commission to TripAdvisor because I pay for a booking that comes to me, not like spending on Google Ad Words which is like shooting in the air. If I work with a travel […]

 

Alcohol minimum pricing rules to be fast-tracked by Cabinet | The Irish Times

Alcohol minimum pricing rules to be fast-tracked by Cabinet | The Irish Times

The Government is set to fast-track new laws to clamp down on cheap alcohol sales in off-licences and supermarkets, with the Cabinet expected to approve plans within the next two weeks. The Sunday Independent also reports that controversial minimum unit pricing rules for wine, beer, and spirits will come into effect within 12 months, meaning […]

 

Pricing Is Still a Big Problem for Micron | The Motley Fool

Pricing Is Still a Big Problem for Micron | The Motley Fool

Shares of memory chip manufacturer Micron Technology (NASDAQ:MU) soared on Wednesday after the company beat estimates for its fiscal third quarter and provided an optimistic view of demand for the rest of the year. The rally doesn’t make much sense, though, given the pricing problems Micron is still facing. Elevated inventory and a challenging environment […]

 

Unfair Food Pricing Is Killing Family Farms and Regenerative Farming | Truthout

Unfair Food Pricing Is Killing Family Farms and Regenerative Farming | Truthout

Both mainstream parties advocate the neoliberal, free-trade policies that the ever more aggregated seed, food and chemical corporations have imposed upon the U.S. since World War II to the detriment of family-scale farms all over the world. The dairy farmers who got through the winter eating cereal and the new farmers who are eagerly starting […]

 

Ticketmaster Fined $3.4 Million By Canadian Government For Misleading Pricing | Genius

Ticketmaster Fined $3.4 Million By Canadian Government For Misleading Pricing | Genius

The introduction of mandatory back-end fees on tickets purchased online has long been criticized by consumers, and now one of the biggest practitioners of it must pay a multi-million dollar settlement. On June 27, Ticketmaster was ordered to pay $4.5 million (roughly 3.4 million USD) due to “misleading pricing claims in online ticket sales.” The […]

 

Autos and Taxis will get a fair hike, Ola/Uber surge pricing to be capped | ThePOST24

Autos and Taxis will get a fair hike, Ola/Uber surge pricing to be capped | ThePOST24

Mumbai Transport will get a major overhaul as the transport department has decided to hike the fare of Autos and Taxi by Rs 2 for both the modes of Mumbai Transport. BEST has already got an approval from its Managing committee and will decrease the minimum fare to ₹ 5 as suggested by BMC Commissioner […]

Game prices on Stadia will probably be the same as everywhere else | PC Gamer

Game prices on Stadia will probably be the same as everywhere else | PC Gamer

Google’s Stadia pricing is still a little opaque. Stadia Pro will launch with a $10 monthly subscription fee, supporting 4K at 60fps with 5.1 audio, if your pipe can support it; a free Stadia Base option, restricted to 1080p and stereo sound, is expected to go live in 2020. The subscription plan will also grant […]

 

Pelosi wants feds to negotiate drug prices — even for private insurers | the ct mirror

Pelosi wants feds to negotiate drug prices — even for private insurers | the ct mirror

Democrats hash out a proposal empowering the federal government’s top health official to negotiate lower drug prices, House Speaker Nancy Pelosi is taking it a step further and pushing a plan that could benefit even those Americans with private health insurance. A draft plan spearheaded, but not yet released, by Pelosi and other House Democratic […]

 

San Francisco needs congestion pricing — and not just for downtown driving | SFChronicle

San Francisco needs congestion pricing — and not just for downtown driving | SFChronicle

Safer streets, less pollution, better transit, bustling business districts — San Francisco can have it all. Yet surging automobile traffic on our city streets is driving ever-increasing public health and safety impacts — and climate-changing carbon emissions. The sane response is to expand public transit and lower the cost to consumers, yet the San In […]

 

Vallejo takes steps to prevent ‘price gouging’ at rental properties | Daily Republic

Vallejo takes steps to prevent ‘price gouging’ at rental properties | Daily Republic

VALLEJO — An emergency proclamation to prevent price gouging and cap annual rental increases at 10 percent has been issued by the city, according to a statement released Friday. Valley City Manager Greg Nyhoff signed the proclamation Thursday. It went into effect immediately. The proclamation is consistent with an executive order first issued by then-Gov. […]

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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