This Week in Pricing > 9/16/17

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™).

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Top Headlines

Texas AG files first 3 price gouging lawsuits | KDFW

Texas AG files first 3 price gouging lawsuits | KDFW

According to a release from attorney general’s office, state law prohibits businesses from charging exorbitant amounts during a declared disaster. The Bains Brothers, who own Texaco-branded gas station in Arlington, Carrollton and Richardson, were accused of charging the higher price even while displaying signs with prices in the $3-$4 range. Additional lawsuits were filed against […]

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Amazon Water Case Prices Spike Ahead Of Hurricane Irma | Crime Time

Amazon Water Case Prices Spike Ahead Of Hurricane Irma | Crime Time

In a statement, the company denounced surge pricing. “We do not engage in [it],” the spokeswoman said in a statement. “Amazon prices do not fluctuate by region or delivery location. Prices on bottled water from Amazon, and third-party sellers that are doing their own fulfillment to customers, have not widely fluctuated in the last month.” That […]

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Amazon Faces Angry Twitter Mob Over $100 Water | Euronews

Amazon Faces Angry Twitter Mob Over $100 Water | Euronews

An Amazon representative told NBC News in a statement that the company does not “engage in surge pricing and product prices do not fluctuate by region or delivery location.” “We are actively monitoring our website and removing offers on bottled water that substantially exceed the recent average sales price. Prices have not widely fluctuated in […]

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Hurricane Irma Has Sent Airline Ticket Prices Skyrocketing | TheStreet

Hurricane Irma Has Sent Airline Ticket Prices Skyrocketing | TheStreet

United Airlines (UAL – Get Report) was showing prices on more than $6,000 for a flight from Miami to Denver, according to the Telegraph. The airline, however, said the price was quoted in error, citing a computer glitch. “United did not change how we priced our seats for flights out of Florida, and we will […]

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United Keeping `Painful’ Discounts to Fend Off Low-Fare Airlines | Bloomberg

United Keeping `Painful’ Discounts to Fend Off Low-Fare Airlines | Bloomberg

United Continental Holdings Inc. vowed to keep discounting fares amid an expanding price war that contributed to a projected $400 million blow to third-quarter sales. The third-largest U.S. carrier will continue fighting low-cost carriers with cheap tickets at major hubs despite the short-term pain, Chief Financial Officer Andrew Levy told investors Wednesday. The clash is adding […]

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Editorial: California needs prescription drug transparency | The Mercury News

Editorial: California needs prescription drug transparency | The Mercury News

Drug makers argue that the bill is a first step toward price controls that will decimate their research and development work. Pharmaceutical companies certainly deserve a reasonable return on their substantial investments in research and development. But if they reveal a pricing strategy that seems justified, it could have the opposite effect, relieving the pressure […]

 

Ridesharing Program Under FBI Investigation | PYMNTS.com

Ridesharing Program Under FBI Investigation | PYMNTS.com

Uber is the focus of a federal investigation in New York as authorities determine whether the ridesharing company used software to interfere illegally with its competitors. The Wall Street Journal reported on the investigation, citing sources familiar with the process. The probe, led by the New York office of the Federal Bureau of Investigation (FBI) […]

 

Did U2 Drop its Kansas City Prices to Meet Lower Demand? | Ticket News

Did U2 Drop its Kansas City Prices to Meet Lower Demand? | Ticket News

I did a quick internet search and am surprised that no fans are complaining about the fact that U2 ticket prices were lowered sometime recently for upper level side seats from $100 each from the onsale back in June to $35 for similar seats that can be purchased today on Ticketmaster. I purchased 2 tickets […]

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Just Say No To Verizon’s New Discriminatory Behavioral Advertising Program | Shear on Social Media Law & Tech

Just Say No To Verizon’s New Discriminatory Behavioral Advertising Program | Shear on Social Media Law & Tech

According to The Wall Street Journal, Verizon Communications has a new rewards program, Verizon Up, that provides credits that wireless subscribers can use for concert tickets, movie premieres and phone upgrades. While this may sound great at first glance its really a wolf in sheep’s clothing that consumers should avoid. If you don’t want to […]

 

More Headlines

Uber explains price hike during Merseyrail strike – and how you can get cheaper fares | Liverpool Echo

Uber explains price hike during Merseyrail strike – and how you can get cheaper fares | Liverpool Echo

Uber has explained why its prices surged this morning – after the ECHO discovered fares had gone up dramatically during the Merseyrail strike . We were quoted a price of up to £24 for a 4.3 mile journey – as Uber admitted its fares “were a lot higher” today, with rail services hit by strike […]

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Freezing Energy Prices Is Not Key to Change | Recorder Daily

Freezing Energy Prices Is Not Key to Change | Recorder Daily

Energy prices have been in the news a lot lately, with over 52 million customers in the UK who currently purchase energy from one supplier, or multiple suppliers it is no wonder that when utility companies hike their yearly prices up, there is uproar from the public. Whilst justified, there are often key factors involved […]

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Park District golf faces day of decision | JournalStar

Park District golf faces day of decision | JournalStar

GolfVisions representatives described their season-pass plan in which golfers could choose from a varied level of customized passes. They might include a pass for all-access, for one course, for seniors, for juniors or for late afternoon play among other options. Punch cards for limited play would also be made available. With these different types of […]

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Target cuts prices on groceries and other consumables | Food Dive

Target cuts prices on groceries and other consumables | Food Dive

Target’s announcement came the same day Kroger reported a 7% drop in profit thanks to its own sweeping price cuts. As with the Cincinnati-based grocer, Wall Street dinged Target for the measure, which is sure to eat into the retailer’s gross margins, but stands to boost its market share. Many analysts view sweeping price cuts […]

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Feeding the parking meter a thing of the past | The Globe and Mail

Feeding the parking meter a thing of the past | The Globe and Mail

“Technological innovation can help make this marketplace more transparent,” Mr. Johal says. “The marketplace is finally being brought into the 21st century.” The next step, he adds, is likely to be dynamic pricing – or the ability for municipalities to change parking rates more quickly based on availability and demand. San Francisco, for example, has […]

 

Celanese (CE) to Raise Prices of Selective Acetyl Products | Nasdaq.com

Celanese (CE) to Raise Prices of Selective Acetyl Products | Nasdaq.com

Celanese Corporation CE announced that it will increase the list and off-list selling price of certain acetyl intermediates products. The price hike is effective immediately or as contracts permit. In the United States, prices of Acetic Acid, Acetic Anhydride and Acetic Acid/ Acetic Anhydride blend will increase by 4 cents per lb. In Mexico and […]

 

J.Crew is falling apart, and right before New York Fashion Week | Fast Company

More turbulence is afoot at J.Crew. In April, Jenna Lyons, the brand’s longtime creative director, suddenly announced her departure from the company. Somsack Sikhounmuong, who had been designing for J.Crew since 2001, would replace her. But right at the start of New York Fashion Week, Sikhounmuong has announced that he is also leaving the company. Business of […]

 

A proactive approach to working with regulators | PropertyCasualty360

A proactive approach to working with regulators | PropertyCasualty360

The relationship between insurers and regulators has always been challenging. This is true for any number of reasons, some of which are understandable given the nature of the roles that regulators perform, and the sheer number of requirements across the U.S. For instance, an approach to policy pricing that’s approved by regulators in one state […]

 

Petroleum minister Dharmendra Pradhan says no need to change daily revision in fuel prices regime | First Post

Petroleum minister Dharmendra Pradhan says no need to change daily revision in fuel prices regime | First Post

New Delhi: Petroleum minister Dharmendra Pradhan on Monday said the dynamic pricing regime, whereby prices of transport fuels are revised daily, would continue despite petrol prices going up by over Rs 6 per litre since the scheme was introduced pan-India from mid-June. Speaking to reporters after taking over additional charge of the Skill Development and Entrepreneurship […]

Fuel cost sees 7% rise since start of dynamic pricing | ET EnergyWorld

Fuel cost sees 7% rise since start of dynamic pricing | ET EnergyWorld

KOLKATA: Both petrol and diesel prices in Kolkata have risen by more than 7% since June 16, when the government introduced dynamic pricing of fuel. Dynamic pricing, according to oil marketing companies, is to ensure the benefit of even the smallest change in international fuel prices can be passed on to dealers and consumers. The […]

 

SF parking meters may soon feature Uber-like surge pricing | The San Francisco Examiner

SF parking meters may soon feature Uber-like surge pricing | The San Francisco Examiner

Parking meters across San Francisco may feature “dynamic” pricing by the end of this year. The new parking meter pricing policy will allow The City’s transportation planners to lower or raise prices based on the demand for parking spaces, in similar fashion to Uber’s surge pricing, which raises prices for ride-hail vehicles when demand for […]

 

Target to slash prices on thousands of items, sending shares tumbling | CNBC

Target to slash prices on thousands of items, sending shares tumbling | CNBC

The cuts will be on items including cereal, paper towels, baby formula, razors and bath tissue, Target said. And the news comes just days after Amazon started cutting prices at Whole Foods’ stores across America. Target shares were trading around 3 percent lower Friday afternoon on the announcement. “We want our guests to feel a […]

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Wayfair, Amazon, Walmart, and Sears all sell the same furniture with different names and prices | Quartz

Wayfair, Amazon, Walmart, and Sears all sell the same furniture with different names and prices | Quartz

It’s that time of year when kids are heading back to school, others are graduating or just moving house, and millions of individuals are shopping for new furniture. Increasingly, people are buying stuff like sofas and dressers—things they used to test out in person—on the internet, thanks to the free shipping and low prices offered […]

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When will London adopt pay-as-you-go road pricing? | CityMetric

When will London adopt pay-as-you-go road pricing? | CityMetric

How far off is road charging? At Sustrans, we have long argued for road pricing and supported the London Assembly, the elected members that scrutinise the mayor, in making the case for it. But in 2008, the UK government backed down from its road pricing plans due to a sizeable petition and a referendum in Manchester which sealed its […]

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Trainline uses predictive analytics to help rail passengers save money | Computer Weekly

Trainline uses predictive analytics to help rail passengers save money | Computer Weekly

Trainline has revealed details of how it is using predictive analytics to help rail passengers save money when buying tickets on its app through the roll-out of its Price Prediction tool. This service uses big data to judge how the price of an advance ticket will increase in the days leading up to the passenger’s […]

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Lilly Plans Cuts as Pricing Pressure Drives New-Drug Push | Bloomberg Quint

Lilly Plans Cuts as Pricing Pressure Drives New-Drug Push | Bloomberg Quint

(Bloomberg) — Eli Lilly & Co. plans to cut 8.5 percent of its workforce in a bid to free up resources to fund new drugs, amid acute pricing pressure for some of its biggest products. The Indianapolis company said some of the 3,500 job cuts will come from early retirements, with about 2,000 positions set […]

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Casey’s Looks to Optimize Digital & Pricing Opportunities | Convenience Store News

Casey’s Looks to Optimize Digital & Pricing Opportunities | Convenience Store News

At the same time, Casey’s is interviewing consultants to assist the convenience store chain with developing a new price optimization program. “Currently, many of the products at our stores are priced consistently across our 15-state market area,” Handley explained. “We believe we have an opportunity to take advantage of differences and market conditions related to pricing […]

 

Why good real estate agents are becoming indispensable | BizWest

Why good real estate agents are becoming indispensable | BizWest

Sellers Faster Sales.  There have been several studies that demonstrate sellers who use an agent to sell their home sell it faster, on average, than those who choose to sell by themselves. In many cases, this can be a very valuable benefit (for example, if your job requires you to move). Higher Net Proceeds. A […]

 

Asia media giants unite for ad share, Opinion News & Top Stories | The Straits Times

Asia media giants unite for ad share, Opinion News & Top Stories | The Straits Times

On the other hand, some publishers are concerned that collaboration among traditional competitors brings its own complications. In many ways, selling ad impressions is like operating an airline. Like air carriers, publishers deal in a product (online impressions) that is limited, perishable and variable in price. These characteristics make it possible to control inventory availability […]

 

Zambia : Government should take advantage of increased copper prices. | LusakaTimes

Zambia : Government should take advantage of increased copper prices. | LusakaTimes

Rise in copper prices should put a smile on people’s faces because it ought to translate in improved living standards for Zambians due to increased foreign exchange earnings and potential job creation. Increase in foreign exchanges will sustain the appreciation of the kwacha against the dollar and will reduce inflation due to the fact that […]

 

It’s best to leave contraception to those who need it | The Guardian

It’s best to leave contraception to those who need it | The Guardian

I am reeling, reeling, at this week’s extreme version of the soulless apology, where the other person, their chin held up awfully proudly, says: “I’m so sorry,” but then, “…if you were upset.” A crapology, if you will. That poisonous “if”. It stays bitter, fizzes on your tongue like last week’s hummus. The story began […]

 

Lowering Prices: LG Electronics to Target Premium Phone Market with Price Competitiveness | BusinessKorea

Lowering Prices: LG Electronics to Target Premium Phone Market with Price Competitiveness | BusinessKorea

As LG Electronics has set the price of the V30 at some 900,000 won (US$798), the company will target the premium smartphone market with price discrimination strategy in the second half of the year. The new products of Samsung and Apple far surpass over 1 million won (US$887). All eyes are on whether LG’s pricing […]

 

Setting the right price key to success | Prince George Citizen

Setting the right price key to success | Prince George Citizen

Have you ever bought something and thought that there is something not right about the price? Maybe it seemed too cheap or you felt like you were getting ripped off? Pricing is tricky business and stressful for many business people. Are we too high and scaring away customers? Our competitors are priced lower than us, […]

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Why Businesses Should Lower Prices During Natural Disasters | Harvard Business Review

Why Businesses Should Lower Prices During Natural Disasters | Harvard Business Review

It’s a longstanding debate that’s reemerged during Hurricanes Irma and Harvey: During a time of crisis, should merchants raise or maintain prices when demand increases for essential products such as water, gas, and bread? Now, due to the influence of social media, a new alternative is emerging: Why not lower prices during these critical times? Economists usually […]

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Massive jump in petrol rates after dynamic pricing – Decoding the price rise | Zee News

Massive jump in petrol rates after dynamic pricing – Decoding the price rise | Zee News

New Delhi: The Indian basket of imported crude oils gained nearly $3.50 a barrel during last week even as petrol prices in the country touched their highest levels since 2014, official data has showed. Petrol price was hiked by 8 paise a litre and diesel by 10 paise per litre, applicable from 6 a.m. on […]

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Amazon could be contributing to consumer dissatisfaction | Ragtrader

Amazon could be contributing to consumer dissatisfaction | Ragtrader

Consumer sentiment continues to drift downwards while retail spending growth has picked up over the same time period, according to the latest Deloitte Access Economics Retail Forecasts report. The report revealed that retail pricing continued to struggle in the face of improved volumes. Retail price growth was minimal, notching an increase of 1.0% over the […]

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Change in Whole Foods’ Pricing Strategy Starts to Impact Grocers | Market Realist

Change in Whole Foods’ Pricing Strategy Starts to Impact Grocers | Market Realist

How Amazon is threatening grocers Amazon (AMZN) announced the acquisition of premium organic and natural food retailer Whole Foods Market on June 16, 2017. The deal sent tremors across the food retail sector on fears that Amazon would end up disrupting the grocery business in the same way it has dislocated books and electronics. The […]

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How to make personalized pricing work | Business Today

How to make personalized pricing work | Business Today

With so much benefit for the consumers why is there so much consumer and regulatory backlash against the new-age companies for their pricing strategies? It is to do with the lack of trust. In the process of haggling the consumers are involved in the price formation process face-to-face and settle at what both sides agree […]

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How Disney Could Price Its ESPN and Disney-Branded Streaming Services | Market Realist

How Disney Could Price Its ESPN and Disney-Branded Streaming Services | Market Realist

Pricing of Disney’s streaming services According to an August 21 FierceCable report, The Walt Disney Company (DIS) could price its Disney-branded streaming service at $5 per month. In this report, MoffettNathanson analyst Michael Nathanson stated that the service could be set at this price point to encourage wider adoption. On August 8, Disney was asked about its […]

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How supermarkets use particle physics to save thousands of tonnes of food waste | The Independent

How supermarkets use particle physics to save thousands of tonnes of food waste | The Independent

Blue Yonder’s algorithm breaks down decisions to the finest grain possible, the Professor says, so that supermarkets can cut waste while also ensuring they don’t run out of stock. However, there is always a trade-off between the two and ultimately the supermarket makes the final decision. Blue Yonder can also change the prices of items […]

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Passengers decry withdrawal of telescopic fares by railways | The Hindu

Passengers decry withdrawal of telescopic fares by railways | The Hindu

Indian Railways has, of late, been surreptitiously fleecing the common man through innovative methods. Starting with Tatkal, followed by Suvidha specials and dynamic pricing, where the fares charged are unreasonably high, the latest seems to be doing away with telescopic fares, says Oruganti Srinivas, an advocate and resident of TPT Colony. Suvidha specials and trains […]

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Featured Content and Events

Book: Dollarizing Differentiation Value – A Practical Guide for the Quantification and the Capture of Customer Value

Book: Dollarizing Differentiation Value – A Practical Guide for the Quantification and the Capture of Customer Value

Summary: Now is the time to answer that “value” question so well and so completely that your organization thrives. The biggest winners in the 21st century will have value-based strategies, value-based innovation, value-based marketing, and value-based pricing. There has never been a more exciting and lucrative time to pay attention to value and turn a […]

 

Conference: 28th Annual Fall Pricing Workshops & Conference | PPS

Conference: 28th Annual Fall Pricing Workshops & Conference | PPS

Date: October 24-27, 2017

Location: Hilton San Diego Bayfront in San Diego, California

Hear from our President, Kevin Mitchell, give insight on the conferences we offer.  Please make plans to join us and well over 500 of your peers for the best event anywhere as we discuss Data, Change Management and the Profit Landscape. Don’t miss out on the Early Bird Discount (Buy 2 Get 1 Free). It expires September 15th!

CONFERENCE HIGHLIGHTS

  • 12 Certified Pricing Professional Workshops
  • 4 Breakout Tracks
  • Over 40 Speakers
  • 2 Full Conference Days
  • Over 100 Hours of Networking

 

DigitalPricingSummit_300x250

Conference: Digital Pricing Summit | IQPC

Pricing transformation through digital disruption.

DIGITAL TRANSFORMATION AND E-COMMERCE | DIGITAL PRICING STRATEGIES FOR B2C | E-COMMERCE PRICING IN THE B2B CONTEXT | VALUE CREATION AND CHANNEL MANAGEMENT | DIGITAL SUBSCRIPTIONS AND PAYMENTS | REVENUE MANAGEMENT & COMMERCIAL EXCELLENCE

  • Understand how digitalisation and online services are changing the future of commerce
  • Develop superior pricing strategies in the highly competitive B2C space
  • Explore how digital transformation and ecommerce are interdependent in the B2B context
  • Value creation, communication, managing partners and channel conflict
  • Leverage margin enhancement in digital subscriptions and leveraging digital payment platforms
  • Identify revenue management and commercial strategies for pricing excellence
  • Learn about setting up ecommerce platforms, subscriptions, data analytics and applications for pricing excellence.


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

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“Pricing strategy always has been more of a poker game than a science.”

     – William T. Moran

 


 

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