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This Week in Pricing > 7/11/15

pricingnews-WeeklyThis Week in Pricing is a recap of the week’s best pricing focused news, strategy expert and technology leader’s thought leadership, industry news and events, and resources for pricing professionals.

This Edition is brought to you by: value innoruption final 0612 rev

 

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…

Headlines

Price Wars Are Not A Path To Private-Label Success, Says IRI | ESM Magazine

Price Wars Are Not A Path To Private-Label Success, Says IRI | ESM Magazine

The European grocery retail landscape is changing rapidly. The explosion in mobile device ownership has helped food shoppers become more price savvy, assisted by aggressive price wars by retailers in the market. However, price wars are not a path to success in the area of supermarket brands, says Tim Eales, director of strategic insight at […]

 

Tripping Over Dollars to Pick Up Dimes | The Sales Blog

Tripping Over Dollars to Pick Up Dimes | The Sales Blog

I was talking with a friend about pricing. We were both lamenting the fact that too many people underinvest in the results they need. The underinvestment always costs them more than the difference between the price they paid and the price they should have paid. In the world of sales, paying more for the salesperson you […]

 

The Risks of Changing Your Prices Too Often | HBR

The Risks of Changing Your Prices Too Often | HBR

Today’s technologies allow digital businesses (as well as a growing roster of traditional companies) to change prices frequently, even minute-by-minute in real time if they want to. It is not unusual for prices to change on sites like Amazon, Expedia, and Priceline several times a day. But managers are struggling to understand these tactics. How […]

 

Pricing to Win or Execute | The Sales Blog

Pricing to Win or Execute | The Sales Blog

It’s easy to focus on pricing your offering to win your dream client’s business. You consider what your dream client believes they need in the way of pricing, and you consider what your competitors are likely to quote. When you consider what your dream client wants in the way of pricing, you end up dealing […]

 

Setting Fees: Best Pricing Advice I Ever Received | Attorney at Work

Setting Fees: Best Pricing Advice I Ever Received | Attorney at Work

I don’t think I’ve ever received better advice about pricing than that. The seller’s job is to know how much his or her services are worth, and the buyer’s job is to decide, after as much or as little negotiation as desired, whether that price matches the value of the service to the buyer. The homeowner […]

Are Airlines Limiting Flights to Drive up Fares? | Supply & Demand-Chain Executive

Are Airlines Limiting Flights to Drive up Fares? | Supply & Demand-Chain Executive

WASHINGTON (AP) — As the Justice Department launches an investigation into possible collusion in the airline industry, experts say the government faces the burden of proving that carriers were deliberately signaling business decisions to each other. Airlines routinely increase flights based on demand. A particularly cold winter in the Northeast, for instance, might merit more […]

 

How to effectively raise prices | Fronetics Strategic Advisors

How to effectively raise prices | Fronetics Strategic Advisors

How to increase prices and retain customers Companies raise prices all the time. There are various reasons, explanations, and results. Sometimes companies disclose the changes, but sometimes customers and clients never even catch wind of a change. Let’s have a look at the causes, the perception, and the actions to take. Why? Usually there’s an […]

My prices need to go up – how do I break it to my customers? | The Guardian

My prices need to go up – how do I break it to my customers? | The Guardian

Hello James I have been running my business for 18 months now and I am looking to increase my client fees but am not sure by how much – is there a recommended structure? Also, how do I approach this with my existing clients? Sarah Deciding how much to charge for your product or service […]

 

CIO Review Selects SPA as one of 20 Most Promising Epicor Solutions Providers | Strategic Pricing Associates

CIO Review Selects SPA as one of 20 Most Promising Epicor Solutions Providers | Strategic Pricing Associates

Cleveland, OH (SPA) July 8, 2015 > CIO Review has named Strategic Pricing Associates to its “20 Most Promising Epicor Solutions Providers 2015” list. SPA’s selection is based on its high-ROI Strategic Pricing Module within Epicor’s P21/Eclipse/Prelude software. The CIO Review editorial research team analyzed hundreds of companies that provide Epicor Solutions to identify the […]

 

How Much More Starbucks Customers Will Pay Each Year With Today’s Price Hike | ABC News

How Much More Starbucks Customers Will Pay Each Year With Today’s Price Hike | ABC News

The latest jump in Starbucks coffee prices today makes a cup of joe a greater luxury for many. The price increase is 5 to 20 cents for most beverages starting today, which the company attributed to various business factors. Starbucks’ “tall” and “venti” sizes of brewed coffee increase by 10 cents in “most markets” the […]

 

Starbucks is hiking prices, again | CNN Money

Starbucks is hiking prices, again | CNN Money

Your morning coffee may be getting a little more expensive. Starting Tuesday, Starbucks (SBUX) will charge 5 to 20 cents more for some of its drinks — mostly hot beverages — at the majority of its U.S. stores. The company did not specify exactly which drinks will be impacted because it charges different prices in […]

 

Use Pricing Strategy to Boost Sales | HBR

Use Pricing Strategy to Boost Sales | HBR

What’s the fastest way to profitably sell more of whatever it is your company sells? I argue that it’s better pricing. Think about how your company sets prices: Are you confident that your prices capture the value of your products and services? When I ask managers this question, most respond with a chagrined: “Not very […]

 

The pricing renaissance: New ways to reduce risk and unlock value | McKinsey on Marketing & Sales

The pricing renaissance: New ways to reduce risk and unlock value | McKinsey on Marketing & Sales

Pricing always involves risk and uncertainty. You make the best decision you can, but you can’t tell how it will play out until you put your price in front of customers and see how they react. That’s true whether you are changing list prices, adjusting discounts, altering your negotiating posture, or introducing a new pricing […]

 

Value-Based Pricing: A Beginner’s Guide | thinkapps

Value-Based Pricing: A Beginner’s Guide | thinkapps

There are all kinds of ways to price your product, but value-based pricing is one of the best. Two common ways to price are by adding a profit percentage to your cost or by basing your price off of your competitors. Where value-based pricing differs is that you aren’t just looking at the numbers. Instead […]

 

Pricing your product or service | 3 common pitfalls to avoid

Pricing your product or service | 3 common pitfalls to avoid

Pricing your product or service can be so tricky.  There’s your goal – to build a profitable, sustainable business. At the same time you’re working at making yourself both affordable and accessible to customers who value your product or service. But, at times, do you wonder whether you’ve got it right? If your price is too […]

 

Case Study: Offering Prices v. Offering Quotes | Boostability Blog

Case Study: Offering Prices v. Offering Quotes | Boostability Blog

As Boostability expands into international markets, making sure everything is translated into the proper languages is a rather large and vital part of the process. Finding the best translation services is key to helping the transition into foreign languages run smoothly. So to find the best translation services, naturally I turned to Google. I quickly […]

 

6 Steps in Pricing your products | Exchange Leads

6 Steps in Pricing your products | Exchange Leads

Any new business venture means making tough decision, price being one of the hardest. As a small business of course you want to maximize revenue and increase profits. However to do this whilst keeping in mind the real value of the product AND the price your are charging is a whole new issue. Differentiate Determine […]

The Dynamic Pricing Revolution | KnowThis.com

The Dynamic Pricing Revolution | KnowThis.com

As we note in our tutorials dealing with pricing decisions, for many organizations, and especially those selling tangible products, setting price is often fairly straightforward exercise. You figure out what it costs to produce your product and then set the list price by determining what the markup will be. Of course, there are adjustments that […]

 

5 ways to turn precision into profits | Fortune

5 ways to turn precision into profits | Fortune

Whoever has the most exact data—and knows how to use it—wins today. 1. Use dynamic pricing: Amazon AMZN -0.38% is constantly changing its prices, and so are airlines—and customers don’t balk. But most entrepreneurs are afraid to do the same thing, and that’s one reason they struggle to compete with Goliaths. Quit leaving money on […]

 

Alistair Smith: Dynamic ticket pricing is here to stay | The Stage

Alistair Smith: Dynamic ticket pricing is here to stay | The Stage

It was the best of times, it was the worst of times. Ticket prices in the West End are up, ticket prices in the West End are down. There are many ways of reading the results of our annual ticketing survey. On the one hand, theatre-going is getting more expensive, while on the other it’s […]

 

Tom New: In Canada, the price is seldom right | Ottawa Citizen

Tom New: In Canada, the price is seldom right | Ottawa Citizen

Imagine a store in which the posted prices aren’t accurate. In fact, they’re deliberately deceptive, designed to get you to the checkout, where the real price – always higher – is revealed. Imagine Canada, the true north, strong and free. Plus tax. Virtually every country in the world, other than Canada and the U.S., includes tax […]

 

Facebook Changes Up Its Video Ad Pricing After Complaints From Marketers | WSJ

Facebook Changes Up Its Video Ad Pricing After Complaints From Marketers | WSJ

Facebook Inc. on Tuesday announced a new pricing option for video ads, after marketers raised concerns that the company has been charging for ads that were barely viewed by users. The social networking giant said it will now give advertisers the option of paying for video ads only when they are viewed for at least […]

Two big insurers are driving your car insurance higher | The New Daily

Two big insurers are driving your car insurance higher | The New Daily

Ms Ball suggested that the big insurers might be spooked. “The largest insurers in Australia are in a very comfortable position in terms of their market share,” she said. “We can only assume that allowing consumers to compare the price, features and benefits of products in a simple and transparent manner may show them in […]

Michael Kors settles US lawsuit alleging deceptive price tags | Business Insider

Michael Kors settles US lawsuit alleging deceptive price tags | Business Insider

Michael Kors was accused of creating an “illusion” of deep discounts by using tags containing made-up “manufacturer’s suggested retail prices,” or MSRP, and offers to sell the products at lower prices, termed “our price.” Shoppers said the suggested retail prices were artificial because the tagged products had been made exclusively for Michael Kors outlets, and […]

 

Events

Webcast: Improving Margins Through a More Strategic Approach to Pricing | SPA

When: July 15 2015 2:00 PM Eastern

Register to attend our webcast where a SPA client will share their journey to pricing excellence and how they are leveraging science-based strategic pricing tools to improve margins through a more strategic approach to pricing. To implement a solution that enhanced profitability, developed pricing discipline, and removed emotion from the […]

Webcast: Increasing Prices and Margins Without Sacrificing Sales Volume | SPA

When: August 12 2015 2:00 PM Eastern

Register to attend our webcast where a SPA client will share their journey to pricing excellence and how they are leveraging science-based strategic pricing tools to increase prices and margins without sacrificing sales volume. To implement a solution that enhanced profitability, developed pricing discipline, and removed emotion from the pricing […]

Webcast: How to Change the Pricing Culture in Your Company | SPA

When: September 23 2015 2:00 PM Eastern

Register to attend our webcast where a SPA client will share their journey to pricing excellence and how they are leveraging science-based strategic pricing tools to change the pricing culture in their company. To implement a solution that enhanced profitability, developed pricing discipline, and removed emotion from the pricing […]


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

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“The single most important decision in evaluating a business is pricing power,” Buffett told the Financial Crisis Inquiry Commission in an interview released by the panel last week. “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

 

Pricing Resources

Explore our archives of valuable pricing resources including:

Training: Online Courses | Stephan Liozu

Please find below the links to several online courses prepared for Professional Pricing Society as well as free-of-charge webinars on the themes of value and pricing. SAMA: Value Quantification in Strategic Account Management (Registration Required) – 2013 SAMA: Value Quantification – Working on Economic Value Estimation (Registration Required) – 2013 Pros Pricing: is it Time […]

Pricer’s Points Blog Series

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.

Check out some recent additions…

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.

Check out some recent favorites…

Pricing News LinkedIn Group

Join 1,000’s 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.

 

 

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