This Week in Pricing > 9/1/18

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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Vistaar

Vistaar is leading SaaS software provider that enables companies to optimize pricing, promotion, configuration, and rebate management.  Our solutions are powered by predictive models leveraged by machine learning that deliver profitable growth and maximize shareholder value.  Our world-class customer base spans a broad range of industries throughout the Global 2000 and includes: manufacturing, beverage alcohol, retailers, and many others.

 

Top Headlines

The Pricer’s Four-Step Guide to Tariff Response | Pricing Matters

The Pricer’s Four-Step Guide to Tariff Response | Pricing Matters

With the latest round of tariffs going into effect last Thursday, many companies are turning to their finance and pricing teams to provide a strategic response that maintains profitability without disrupting demand. To help navigate the complexities of tariffs, Vistaar has put together a four-step guide that allows finance and pricing teams to be nimble, […]

 

An Unfortunate Inconsistency Between Value-Based Purchasing And Price Transparency | Health Affairs

An Unfortunate Inconsistency Between Value-Based Purchasing And Price Transparency | Health Affairs

Value-based purchasing (VBP) initiatives attempt to incentivize providers to improve the quality of their services by offering financial rewards or penalties based on performance. The underlying appeal of this approach to affect provider behavior is relatively intuitive, and both public and private payers in the US have increasingly used alternative payment models (APMs) incorporating VBP, […]

 

The Illogical Cost of Care: Why Do We Stand for It? | AAFP

The Illogical Cost of Care: Why Do We Stand for It? | AAFP

We must work toward creating transparency in health care costs and pricing. This seemingly simple economic solution is remarkably hard to enact. The U.S. health care industry is built around layers of contracts, negotiations, secrecy, handshakes, laws, special interests, investment firms and umpteen other layers of an onion you do not want to peel. Unless […]

 

Introducing Uber Freight for shippers — a new way to ship | AJOT

Introducing Uber Freight for shippers — a new way to ship | AJOT

When we launched Uber Freight last year, our goal was to revitalize an industry and help freight move seamlessly and effortlessly around the country. Our first step towards achieving this was empowering carriers and their drivers, the heart of the trucking industry, with technology to help them succeed. With the Uber Freight app, we introduced […]

 

EpiPen class action lawsuit against Mylan, Pfizer to continue, judge rules | BioPharma Dive

EpiPen class action lawsuit against Mylan, Pfizer to continue, judge rules | BioPharma Dive

Mylan first acquired EpiPen in 2007. It would find the product increasingly important to the company’s bottom line over the following decade, with annual sales climbing from around $200 million to $1 billion in 2015 and 2016. Yet, how that growth came about has been a point of immense scrutiny for the specialty pharma. EpiPen’s price […]

Trump’s Plan on Drug-Pricing Transparency Takes Step Forward | Bloomberg

Trump’s Plan on Drug-Pricing Transparency Takes Step Forward | Bloomberg

White House staff are reviewing a proposal that may require pharmaceutical companies to be more transparent about their pricing, a key piece of President Donald Trump’s plan to lower drug costs. The Office of Management and Budget has received a proposed regulation by the Department of Health and Human Services that deals with drug-pricing transparency […]

 

New yellow taxi app offers riders upfront, surge-free pricing | Curbed NY

New yellow taxi app offers riders upfront, surge-free pricing | Curbed NY

As part of a two-year pilot program, the Taxi and Limousine Commission has approved a new smartphone app for yellow and green taxis that will allow passengers to get fare pricing upfront, surge-free pricing, and estimated arrival times before they hail a trip. Waave was created “for New Yorkers by New Yorkers” and is the […]

 

Trump administration may force drug companies to put prices in their ads | Axios

Trump administration may force drug companies to put prices in their ads | Axios

The Trump administration is moving ahead with a proposal that would require drug companies to include the sticker prices of their products in direct-to-consumer advertising — a controversial part of President Trump’s blueprint for lower drug prices. Between the lines: As simple and straightforward as price disclosures might sound, this information may not end up […]

 

American Companies Are Raising Prices at a Brisk Pace | BloombergQuint

American Companies Are Raising Prices at a Brisk Pace | BloombergQuint

(Bloomberg) — President Donald Trump is giving many businesses an unexpected benefit on top of lower taxes and regulatory relief: He’s helping to restore their pricing power. By pouring hundreds of billions of dollars of tax cuts and extra government spending into an already stretched economy, Trump is fostering an environment where firms such as […]

 

More Headlines

JPMorgan offers free trades as fight for retail clients builds | Financial Planning

JPMorgan offers free trades as fight for retail clients builds | Financial Planning

The biggest U.S. bank is joining an escalating battle for retail investors. JPMorgan Chase is planning to roll out a mobile brokerage platform next week that includes free research and some free trading to its millions of retail customers. That comes after Fidelity Investments cut fees to zero on two new index funds earlier this […]

 

A sizzling summer for rising used vehicle prices | Automotive News

A sizzling summer for rising used vehicle prices | Automotive News

As spring turned to summer, used-car prices began to heat up. Without a big shock like last year’s hurricanes, it is extremely rare for used cars to appreciate like this during summer. Yet, our weekly price index shows the most-sold vintage of vehicles at Manheim — 3-year-old vehicles — are worth 2 percent more than […]

 

Want To Get The Cheapest E-Hailing Ride In Malaysia? Heré’s The Comparison

Want To Get The Cheapest E-Hailing Ride In Malaysia? Heré’s The Comparison

MyCar: RM44 and 6 minutes Based on the prices shown above, MULA is the cheapest but it’s a fare estimation, so be prepared to pay more once traffic conditions worsen, especially during peak hours in KL. For peak hours, EzCab seems to have the best rates as they offer the cheapest ride and also the […]

 

Will Hertz Global Thrive Under New CFO Jackson’s Leadership? | Nasdaq.com

Will Hertz Global Thrive Under New CFO Jackson’s Leadership? | Nasdaq.com

However, Jackson’s appointment failed to find favor with investors as the stock declined more than 3% in after-market trading on Aug 20, following the news. In fact, Hertz Global’s disappointing price performance is not limited to Aug 20 only. Shares of the company have underperformed its industry on a year-to-date basis. While the stock has […]

 

Idaho oil, gas audit finds price, market transparency issues | Idaho Statesman

Idaho oil, gas audit finds price, market transparency issues | Idaho Statesman

Idaho now has the results of its first-ever audit of natural gas and oil wells on state lands, and of royalty payments from a Texas oil company. The good news: The state — and thus, the general public — is receiving the royalties it should for the volume and pricing of fuel sold by Alta […]

 

England vs India: Nottinghamshire respond to criticism over day five ticket price by making third Test free for fans | The Independent

England vs India: Nottinghamshire respond to criticism over day five ticket price by making third Test free for fans | The Independent

Nottinghamshire County Cricket Club have responded to a small backlash over their day-five ticket pricing for England cricket’s third Test against India cricket by making the day free for all fans to attend. With England poised for a heavy defeat in the third Test, fans faced the prospect of being charged £10 for entry to […]

 

AHIP supports requirement for drug companies to put prices in consumer ads | Healthcare Finance News

AHIP supports requirement for drug companies to put prices in consumer ads | Healthcare Finance News

America’s Health Insurance Plans is supporting an amendment to an appropriations bill that would require pharmaceutical companies to put drug pricing information in their ads to consumers. AHIP CEO and President Matt Eyles sent a letter of support Tuesday to Senators Dick Durbin and Chuck Grassley, who filed the amendment Monday night to the final […]

 

Legislature passes multiple health policy bills in final week – State of Reform | State of Reform

Legislature passes multiple health policy bills in final week – State of Reform | State of Reform

Prescription Drug Price Transparency The Prescription Drug Price Transparency Act (HB 4005) also passed this session. The bill requires prescription drug manufactures to annually report prices of prescription drugs and the developing and marketing costs to the Department of Consumer and Business Services. It also establishes the Task Force on the Fair Pricing of Prescription […]

 

BigDish PLC eyes dynamic pricing structures as opportunity to grow Asian market share | Proactive Investors

BigDish PLC eyes dynamic pricing structures as opportunity to grow Asian market share | Proactive Investors

The company said that it believed yield management, in which different prices for products are charged at different times, will “transform the restaurant industry” BigDish Plc (LON:DISH) said it has identified yield management, a form of dynamic pricing structure, as an opportunity to expand business in its Asian markets. The company, which operates a discount […]

 

Oglethorpe aligns its sticker prices with state flagships — for academically strong students | Inside Highered

Oglethorpe aligns its sticker prices with state flagships — for academically strong students | Inside Highered

Oglethorpe University staked out new ground Wednesday in the struggle to stand out from the crowd of small private colleges, unveiling a pricing strategy that will match public college tuition rates in every state for members of next year’s freshman class who meet certain benchmarks. The 1,280-student university in Atlanta calls the strategy the Flagship […]

 

The price is right | digitalcommerce360

The price is right | digitalcommerce360

U.K..-based Find Me A Gift sells offbeat, cheeky gifts—think a set of kitchen knives that resemble samurai swords or a bathrobe that resembles a Jedi dressing gown from the movie “Star Wars.” Selling such unique goods has helped the retailer grow rapidly in the 18 years since it launched. Its 2017 sales totaled around 16 […]

 

Pricer’s Points: The 8 do’s and don’ts of dynamic pricing | Dimitris Hiotis

Pricer’s Points: The 8 do’s and don’ts of dynamic pricing | Dimitris Hiotis

Dynamic pricing is one of the most exciting topics in the pricing world right now, with digitalization providing many great opportunities for companies to be more responsive with their pricing. But despite its technological underpinnings, dynamic pricing requires strong human oversight directed by a clear strategy. Dynamic pricing is certainly not new, having been pioneered […]

 

Hurricane Lane Price Caps Will Worsen Shortages | Honolulu Civil Beat

Hurricane Lane Price Caps Will Worsen Shortages | Honolulu Civil Beat

Hawaii Gov. David Ige declared a state of emergency this week, which among other things, triggers a state law that caps the prices of all goods in the state during the duration of the emergency. Although well-intentioned, the price cap is likely to exacerbate shortages and lead to a misallocation of emergency goods. Hawaii state […]

 

Fake discounts in stores fool some shoppers more than others—here’s why | MarketWatch

Fake discounts in stores fool some shoppers more than others—here’s why | MarketWatch

It’s an experience most of us have had when shopping in a store. You’re rifling through the sales rack in search of a bargain. You find a shirt and trying to decide if it’s worth buying, so you look at the original price. But if you’re shopping at a dishonest retailer, what’s on the price […]

 

Why aren’t more people using Alexa to shop? It may because we love to price compare | USA Today

Why aren’t more people using Alexa to shop? It may because we love to price compare | USA Today

Amazon holds its pricing algorithms close to the vest. But there is research that indicates the easiest route does not always end up with the best price, rewarding the customer who spends a little time digging around Amazon’s many offerings. And Alexa certainly qualifies as an easy route. According to a 2016 study from a trio of […]

 

MoviePass cancels yearly plan, refunds annual subscribers | Mashable

MoviePass cancels yearly plan, refunds annual subscribers | Mashable

“It’s not you. It’s me… and my plummeting stock valuation.” In a surprise to absolutely no one, MoviePass has yet another change in store for many of its users. As of today, annual subscribers are getting booted from their unlimited plans and downgraded to three movies per month. The new annual plan was announced via […]

 

MoviePass cancels yearly plan, refunds annual subscribers | Mashable

MoviePass cancels yearly plan, refunds annual subscribers | Mashable

“It’s not you. It’s me… and my plummeting stock valuation.” In a surprise to absolutely no one, MoviePass has yet another change in store for many of its users. As of today, annual subscribers are getting booted from their unlimited plans and downgraded to three movies per month. The new annual plan was announced via […]

 

How the Germans are winning the supermarket war | Switzer

How the Germans are winning the supermarket war | Switzer

There has been a resetting in consumer’s attitudes post the global financial crisis (GFC). Prior to the GFC, shopping at ALDI might have been slightly frowned upon but shopping at ALDI can now mean you’re a frugal, savvy and switched on shopper. The hard-discounters, retailers with a limited product range, low prices and a convenient […]

 

Tether Price Pumps Harder to Pull Off As Bitcoin Falls | Bloomberg

Tether Price Pumps Harder to Pull Off As Bitcoin Falls | Bloomberg

It’s getting hard to pump amid the dump in the $209 billion cryptocurrency market. At least that appears to be the case when you look at Tether, one of the most-traded digital assets and also one that’s allegedly been used to manipulate the price of Bitcoin. Over half a billion dollars of Tether has been […]

 

How Chico’s, Lululemon And Michael Kors Are Bringing Back The Full-Price Sale | Forbes

How Chico’s, Lululemon And Michael Kors Are Bringing Back The Full-Price Sale | Forbes

Retailers have really made a bed for themselves. In an effort to compete against online and discount retailers, most have overplayed their hand when it comes to discounting and are now suffering the unfortunate ramifications of stubbornly low margins. I’ve written at length about the markdown death spiral in past articles. It’s been widely reported […]

 

Gold Prices Rise 1% Following Comments From Fed Chair Powell | Kitco News

Gold Prices Rise 1% Following Comments From Fed Chair Powell | Kitco News

(Kitco News) – Gold prices are holding above the critical psychological barrier at $1,200 an ounce and up more than 1% on the day as Federal Reserve Chair Jerome Powell highlights the central bank’s commitment to gradually raise interest rates as the U.S. economy continue its strong performance. In his much-anticipated remarks at the global […]

 

Can MoviePass survive? It’ll need a serious side hustle | Quartz

Can MoviePass survive? It’ll need a serious side hustle | Quartz

Wayne Levy, 59, joined MoviePass in January. A physician in Oahu, Hawaii, Levy used the movie-ticket subscription service that offered a movie per day for $9.95 per month to see films between leaving work and catching up with friends on Friday nights. He estimated he watched 5-6 movies per month using the service, most of […]

 

Walmart Raises Price of Plus-Sized Clothing, Citing Production Costs | Newsweek

Walmart Raises Price of Plus-Sized Clothing, Citing Production Costs | Newsweek

A store in Sydney, Nova Scotia advertised a George brand women’s T-shirt for $9.97- until the sizes hit 1X. The shirts that came in 1X-3X  sizes cost $2 more than the original. George brand clothing is made exclusively in Walmart, and price differences for plus-sized people also applied across the United States. The stark difference […]

 

A Pricing Leader’s Journey | Professional Pricing Society

A Pricing Leader’s Journey | Professional Pricing Society

In this guest post, learn from a pricing leader’s journey what it’s like to transition from an entry pricing career to leading a Keynote presentation at the Pricing Workshops and Conference event of the season. Pricing expert Scott Sinning, CPP, Director National Pricing for Graybar Electric, shares his first-hand experience attending our Spring Pricing Workshops […]

 

The Right Pricing Strategy: Here’s what businesses should know | India Retailing

The Right Pricing Strategy: Here’s what businesses should know | India Retailing

Getting the pricing of the commodity right is a big problem for many new business owners. A lot of the companies first decide the price and then workout the rest. Practically, it is never the owner or the consultant who decides the price. The market decides the price. And normally, this decision is directly related […]

 

How can dynamic pricing help your business expand? | Changing Prices

How can dynamic pricing help your business expand? | Changing Prices

What is dynamic pricing? Dynamic pricing is a new trend among e-commerce businesses that takes advantage of the laws of supply and demand to generate as much business and turnover as possible. It is based on traditional economic theory, although it combines economic analysis with behavioural observations in order to maximise profits. Traditionally, retail outlets […]

 

MoviePass Poll: About Half of Subscribers Call It Unreliable | Vulture

MoviePass Poll: About Half of Subscribers Call It Unreliable | Vulture

It’s been a cruel summer for MoviePass. Over the past few weeks, the embattled movie-ticket subscription service has been jolted by one distressing development after another. Users became livid when the company raised its price from $9.95 to $14.95 a month, implemented surge pricing, and began limiting attendance to first-run films. (A subscription now costs […]

 

Surge Pricing | The Kent County News

Surge Pricing | The Kent County News

To the editor: I can see no need for an additional bridge across the Chesapeake Bay when the existing spans are so underutilized. There is a simple way to spread the traffic load over a complete 24-hour day. It’s called “surge pricing.” We know how many vehicles cross the bridges for each hour of the day […]

 

When value and price collide | ING Think

When value and price collide | ING Think

Imagine you’ve bought tickets for yourself, another adult and two children to see a film at the local cinema of a national chain. You then search online and find you could have paid nearly half if you saw the same film with the same chain but somewhere else. This does not seem fair. This example is […]

 

How the Actions of the SEC Impact Cryptocurrency Prices | Investopedia

How the Actions of the SEC Impact Cryptocurrency Prices | Investopedia

The month of August has been, as usual, a volatile one for digital currencies of all kinds. Early in the month, the price of bitcoin and ethereum, as well as other digital tokens, dropped to some of the lowest levels of the year. BTC has since recovered and is now trading above $6,700; ETH is […]

 

Express lanes hit record prices for 2nd day in a row | WSB-TV

Express lanes hit record prices for 2nd day in a row | WSB-TV

COBB COUNTY, Ga. – Drivers may have a little sticker shock during their evening commute. The I-85 hot lanes reached a record of more than $15 for the second day in a row Tuesday morning. New dynamic pricing went into effect last Monday. The Tollway Authority says the new system gives more flexibility to lower […]

 

Events and Resources

Webinar: Machine Learning & Data: The Latest Pricing Opportunity | PPS and Vistaar

Date: September 27, 2018

Time: 12:00 pm Eastern

In today’s ever-evolving world, data and software driven strategies are imperative to creating sustained commercial success. Good processes and experienced personnel are no longer enough. It is nearly impossible to rely on spreadsheets, custom software tools, and anecdotal experiences to properly manage the complexity of becoming a “data-driven business.” The good news?

Computers are more adept than humans at sorting through data with complex variables such as frequently fluctuating costs, rapidly evolving pricing models, and shifting customer priorities. Modern pricing software solutions, powered by advanced algorithms and machine learning techniques, enable businesses to constantly analyze data on an unparalleled scale and drive decision making based on data.

Please join Vistaar’s Director of Product Management, Dushyant Zutshi, in a new #PricingWebinar titled, “Machine Learning & Data: The Latest Pricing Opportunity” for a sneak peek of PPS Fall 2018 session content. Dushyant will discuss how advanced algorithms and machine learning techniques drive intelligent pricing and sales strategies for success in the data-driven world.

 

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!

 

14th Annual PPS European & Global Pricing Conference & Workshops | PPS

Date: November 28-30, 2018

Location: Mövenpick Hotel Amsterdam City Centre in Amsterdam, Netherlands

The Professional Pricing Society team and I are very proud to announce that we will be returning to Amsterdam for our next great event – The 14th Annual PPS European & Global Pricing Conference & Workshops held 28-30 November.

Conference keynotes, breakout sessions, and networking opportunities highlight the conference day on 30 November; While 28-29 November will be used for workshop days to help you enhance your pricing knowledge.

 

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.

 

Pricing News LinkedIn Group

Join over 5,000 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.

 

Pricing Resources

Explore our collection of valuable pricing resources including:

 

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

 

 

“We knew how much these people were paying for cocaine—and the more coke cost, the more people wanted it. We applied the same marketing plan to our budding catering operation, along with a similar pricing structure, and business was suddenly very, very good.”

– Anthony Bourdain