This Week in Pricing > 9/8/18

pricingnews-WeeklyThis Week in Pricing is a collection of pricing focused news, thought leadership , events, jobs and professional education resources for pricers.

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…

 

Top Headlines

Pricing Model Innovation Canvas (PMIC) Details [Video] | Stephan Liozu

Pricing Model Innovation Canvas (PMIC) Details [Video] | Stephan Liozu

In this video, we present the specific methods and tools used for each of the 4 C’s of pricing in the canvas. There are 20 methods/tools/analyses that are recommended with key outputs/outcomes that are used in the framing process for your opportunity. The PMIC is for innovators, digital teams, and marketers in need of a […]

 

Refining Price Transparency Tools to Increase Patient Use, Cut Costs | Patient Engagement HIT

Refining Price Transparency Tools to Increase Patient Use, Cut Costs | Patient Engagement HIT

August 27, 2018 – With patient financial responsibility posing a challenge throughout the healthcare industry, more healthcare experts are looking to price transparency to help patients make healthcare decisions and potentially decrease healthcare costs. Healthcare price transparency tools have already made their mark on the healthcare industry, with policymakers agreeing that they are essential to the […]

 

De Beers U-turn on lab-grown diamonds divides industry | Financial Times

De Beers U-turn on lab-grown diamonds divides industry | Financial Times

The De Beers group’s move is a wager, says Mr Golan, on educating a confused consumer about the product and redefining it as something distinct from, and less valuable than, mined diamonds. “They took a big gamble which said, ‘Will we succeed in driving a wedge in perception between lab-grown and natural diamonds, which would […]

 

Robert Morris Debuts Flagship Price Matching | Inside Highered

Robert Morris Debuts Flagship Price Matching | Inside Highered

Robert Morris University announced a new scholarship program Monday tying expenses including tuition, fees, room and board to the average cost of attendance at Pennsylvania’s flagship public universities — and undercutting their average price. The program will be available for students admitted to the main campuses of the University of Pittsburgh or Penn State and […]

 

Petrol, diesel hit new high | The Hans India

Petrol, diesel hit new high | The Hans India

New Delhi/Amaravati/Hyderabad: Prices of petrol and diesel, already at unprecedented levels in the country, rose for the ninth consecutive day on Monday. In the national capital, petrol was sold at Rs 79.15 per litre, up from Rs 78.84 on Sunday. In Vijayawada too, there has been a steep increase in the prices of diesel and […]

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Moviepass: A bold trendsetter slowly dying out | The Chronicle

Moviepass: A bold trendsetter slowly dying out | The Chronicle

Ted Farnsworth, the CEO of Helios and Matheson, has said that other start-up companies such as Uber and Amazon have, at various points, lost billions of dollars and are still around and very successful today.  This may be true, but the key difference between those companies and Moviepass was investor confidence.  Investors saw both the […]

 

PhRMA lawsuit against drug pricing transparency dismissed | State of Reform

PhRMA lawsuit against drug pricing transparency dismissed | State of Reform

On Thursday a US District Court judge dismissed a lawsuit filed by PhRMA that challenged the constitutionality of SB 17, the drug pricing transparency law passed last year by the California Legislature. The law, which was introduced by Senator Ed Hernandez, requires prescription drug companies to provide 60 day advance notice and explanation for any […]

Alnylam gets EU nod for Onpattro amid pricing backlash | PMLiVE

Alnylam gets EU nod for Onpattro amid pricing backlash | PMLiVE

Alnylam’s gene-silencing drug Onpattro has been approved for the rare disorder hereditary transthyretin-mediated (hATTR) amyloidosis in Europe – but celebrations will be muted by ongoing debate about its price. The  EMA has cleared Onpattro (patisiran) – the first RNA interference drug approved in the EU – for adult hATTR amyloidosis patients with stage 1 or 2 […]

 

More Headlines

Here’s How J.Crew Is Going to Win You Back | GQ

Here’s How J.Crew Is Going to Win You Back | GQ

Out of all the Fashion Week shows, J.Crew’s was always the most laid-back. No runway for models to stomp down, or celebrity appearances to froth over. Instead, the brand used “real people,” dressing employees and friends in the new collection and scattering them around spaces where other brands held runway shows. Still, even that was […]

 

Senate Moves Forward With Drug Price Transparency Amendment | AJMC

Senate Moves Forward With Drug Price Transparency Amendment | AJMC

The Senate has passed a spending bill with a bipartisan amendment, sponsored by Senators Chuck Grassley, R-Iowa, and Dick Durbin, D-Illinois, that will provide HHS with $1 million in funds to issue regulations on direct-to-consumer advertising. The regulations will require drug makers to include the prices of their products in direct-to-consumer advertisements. Grassley, in a […]

 

“What the Fee?!” Consumer Reports sheds light on hidden cable costs | WCNC

“What the Fee?!” Consumer Reports sheds light on hidden cable costs | WCNC

A new program called “What the Fee?!” by Consumer Reports reveals extra costs attached to cable bills really make consumers mad. These costs are added after you’re locked into a contract — fees that the company somehow didn’t mention or were buried in the fine print. Consumer Reports received the largest number of complaints about […]

 

Time to Challenge Google Maps Pricing | ProgrammableWeb

Time to Challenge Google Maps Pricing | ProgrammableWeb

Polish developers Bartłomiej Owczarek and Tomasz Nawrocki of the pharmaceuticals locator service GdziePoLek.pl relied heavily on Google Maps. Their business points patients to the closest brick-and-mortar pharmacies stocking specific medicines, so they realized quickly that Google pricing of Maps was changing frequently. They found that Google raised its Maps Platform pricing 14 times, while decreasing […]

 

Trump Tax Cuts Making Prices More Expensive For Consumer Goods | Bloomberg

Trump Tax Cuts Making Prices More Expensive For Consumer Goods | 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 conglomerate 3M […]

 

Costco of Power Supply: Energy Retailer Promises Wholesale Rates | Canstar Blue

Costco of Power Supply: Energy Retailer Promises Wholesale Rates | Canstar Blue

One of Australia’s smallest energy retailers has launched what it calls the country’s “most transparent” power plan, with customers given access to Costco-style wholesale rates. Energy Locals, which currently operates in New South Wales, the ACT and south east Queensland, has revealed a new membership-based offer that’s designed to challenge the dominance of AGL, Origin […]

 

Honda Capped Price Servicing – Cost, Schedule & Info | CarsGuide

Honda Capped Price Servicing – Cost, Schedule & Info | CarsGuide

Honda offers a capped price servicing program for all of its current models, with the company’s Australian arm labelling it Honda Tailored Servicing. According to Honda Australia, “We want to make sure that Honda servicing is tailored to your needs”, and “that means guiding you through how much it costs to maintain your vehicle”. So, […]

 

Renewables better than a big stick at cutting power prices | afr.com

Renewables better than a big stick at cutting power prices | afr.com

The clean energy lobby has warned the new federal energy minister Angus Taylor not to take wind and solar energy for granted because they are putting more downward pressure on wholesale electricity prices than the government’s market interventions. Kane Thornton, chief executive of the Clean Energy Council, said Australia would face scrutiny at the COPS24 […]

 

Sorry, SeaWorld: I was wrong. Attendance is up, free beer is a win, and Rudolph will be back in December | Orlando Weekly

Sorry, SeaWorld: I was wrong. Attendance is up, free beer is a win, and Rudolph will be back in December | Orlando Weekly

Furthermore, last month’s quarterly report revealed nearly 5 percent gains in SeaWorld Entertainment’s revenue and attendance, resulting in a surge for the company’s stock (which is likely little comfort to the 125 employees who were laid off). Interim CEO John T. Reilly credited “strategic pricing strategies, new marketing and communications initiatives, and the positive reception […]

 

How petrol, diesel prices are fixed and why they change every day | Business Today

How petrol, diesel prices are fixed and why they change every day | Business Today

Fuel prices in the country are again at an all-time high today. A litre of petrol in Mumbai will cost the buyer Rs 86.72, while it is Rs 79.31 in Delhi, Rs 82.22 in Kolkata and Rs 82.41 in Chennai. Diesel, on the other hand, is being sold at Rs 71.34 in Delhi, Rs 74.19 […]

 

Government decides not to introduce ceiling price for airfares | New Straits Times

Government decides not to introduce ceiling price for airfares | New Straits Times

KUALA LUMPUR: The government has decided not to introduce ceiling price for airfares as it will bring detrimental effect to consumers in the long run. Transport Minister Anthony Loke Siew Fook said a study undertaken by the Malaysian Aviation Commission (Mavcom) has shown one-way domestic airfares has been on the decline over the past few […]

Fare revision hasn’t helped us, say cabbies, commuters | Times of India

Fare revision hasn’t helped us, say cabbies, commuters | Times of India

BENGALURU: It’s been nearly nine months since the transport department revised cab fares, fixing minimum and maximum charges. However, it seems the revision has benefited neither taxi drivers nor users. In fact, the average per km cab fare in the city — which earlier varied between Rs 10 and Rs 20 — has now touched […]

 

Business travelers primed for dynamic pricing, Travelport finds | Travel Weekly

Business travelers primed for dynamic pricing, Travelport finds | Travel Weekly

Despite growing concerns about data privacy and discriminatory fare pricing, a recent survey conducted by Travelport reveals that business travelers are open to receiving personalized ads based upon their previous travel purchases and their online browsing history. The finding could bode well for airlines that have begun to implement, or are considering implementing, personalized dynamic […]

 

The Opaque Fight Against Price Transparency | Managed Care magazine

The Opaque Fight Against Price Transparency | Managed Care magazine

Public opposition would be unseemly, so insurers and hospitals work behind the scenes against price transparency. For those who doubt the importance of transparency in price and quality to free the market, you just have to look behind the public curtain and observe the fierceness with which the opponents of transparency are trying to keep […]

 

Costco Has Customer Loyalty to Thank for Impressive Sales Growth | TheStreet

Costco Has Customer Loyalty to Thank for Impressive Sales Growth | TheStreet

While Costco is in the middle of the pack in market share of U.S. grocers – and certainly not a laggard – the value the business has accrued is largely attributable to a little bit of secret sauce. That’ll be customer loyalty, driven by a highly competitive value proposition. “What’s driven Costco’s strength is the […]

 

Our Opinion: Secret price lists inflate taxpayers’ health care costs | The Wilson Times

Our Opinion: Secret price lists inflate taxpayers’ health care costs | The Wilson Times

Folwell is on a noble crusade for price transparency in health care. Not only is the state health plan in the dark about the contract reimbursement rates for which it’s on the hook, but individual patients usually have no comprehension of how much a procedure will cost — or how much of the bill they’ll […]

 

Premium bedding startup Brooklinen will raise the price on its sheets soon | Business Insider

Premium bedding startup Brooklinen will raise the price on its sheets soon | Business Insider

When it comes to getting a quality night’s sleep, sheets are just as important as more obvious items like mattresses and pillows. Brooklinen, a startup specializing in amazingly high-quality sheets at reasonable prices, is easily one of Insider Picks’ favorite places to buy them. We’ve written about their superb comfort and even named their Luxe […]

 

As the price of software robots drops, HR’s interest rises | TechTarget

As the price of software robots drops, HR’s interest rises | TechTarget

Software robot costs are declining But there are now more vendors providing RPA products, and it’s driving down costs, Liebross said. A project that once might have cost millions of dollars to deploy can now be done for tens of thousands of dollars, making the ROI easier to achieve, he said. The cost of software […]

 

Google Local Service Ads Display Pricing Estimates for Specific Locations | TheSEMPost

Google Local Service Ads Display Pricing Estimates for Specific Locations | TheSEMPost

This is a great feature for searchers because there’s often the huge price or install differences between for the same service being done in one location over another. Homewyse appears to be supplying the estimate data for the specific jobs in locations. And it is getting as specific as what a job costs in a […]

 

New Mini comes with unusual pricing strategy | Malay Mail

New Mini comes with unusual pricing strategy | Malay Mail

LONDON, Sept 6 — Mini has just announced a brand new entry level trim for its 2019 Hardtop model that’s unashamedly aimed at a youthful audience. The new Oxford Edition will be the most affordable version of the Mini available to buyers in the United States, which all sounds very good. However, there is a […]

 

Why there’s no surprise hospital bill backlash — yet | Axios

Why there’s no surprise hospital bill backlash — yet | Axios

Investigative projects from Kaiser Health News/NPR and Vox have exposed pernicious billing practices from hospitals and doctors that have left patients shocked, angered and exasperated. The bottom line: Hospitals have taken PR hits with the airing of surprise bills, but nothing suggests their practices will change in the short term. Driving the news: The $109,000 […]

 

New Dynamic Pricing Parking Meters Around West 7th In Fort Worth | CBS DFW

New Dynamic Pricing Parking Meters Around West 7th In Fort Worth | CBS DFW

Officials hope the new dynamic pricing meters will make it easier to find a parking space at peak times, even if it costs more. For the first time Fort Worth will experiment with changing rates that are based on demand; ranging from 25-cents up to a potential high of $4.50 an hour. It’s the city’s […]

 

Toll hits $46.75 on I-66 lanes inside the Beltway | The Washington Post

Toll hits $46.75 on I-66 lanes inside the Beltway | The Washington Post

The toll for a solo driv­er along the In­ter­state 66 cor­ri­dor hit $46.75 dur­ing the Wednes­day morn­ing rush, ap­proach­ing a record high. Snapshot of toll price on Wednesday. (Hedgpeth, Dana) On Feb. 28, the toll along the east­bound stretch of I-66 hit $47.50. The tolls are paid by driv­ers who choose to ride alone and […]

 

New Argus price to bring transparency to growing US crude export markets | Hellenic Shipping News Worldwide

New Argus price to bring transparency to growing US crude export markets | Hellenic Shipping News Worldwide

“The US export market has needed an independent source of pricing to value light sweet crude exports,” Argus Media chairman and chief executive Adrian Binks said. “The new Argus WTI fob Houston price provides that solution for the oil trading community.” The new price will introduce transparency to the export market for light sweet crude. […]

 

No let-up in used-car strength for ‘quite some time’ | Auto Remarketing

No let-up in used-car strength for ‘quite some time’ | Auto Remarketing

It’s not just the sales rate that is climbing. As Chesbrough noted during the call, used-vehicle prices “have really taken off over the course of the summer,” amid the chatter from President Trump about potential import vehicle tariffs. “A lot of dealers around the country, we think, are trying to acquire some inventory on used […]

 

 

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…

 

 

“PRICE (noun) Value, plus a reasonable sum for the wear and tear of conscience in demanding it.”

– Ambrose Bierce