This Week in Pricing > 9/30/17

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.

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Strategic Pricing Solutions

Strategic Pricing Solutions, LLC (SPS) is a management consulting firm helping clients with pricing strategies, data analytics, and pricing processes. SPS was formed by Scott Francis in 2005 with a vision of enabling B2B clients to build sustainable strategic pricing capability to significantly improve their profitability. By providing flexibility in how we serve our customers, SPS consulting enables clients to build sustainable strategic pricing capability and continuous improvement in profitability through better pricing decisions.

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Top Headlines

Miami Healthcare Executives Advise National Audience About Impending Price Transparency | PRWeb

Miami Healthcare Executives Advise National Audience About Impending Price Transparency | PRWeb

The SHSMD conference attracted nearly 2,000 healthcare marketing professionals, and the event included sessions from some of the nation’s most distinguished thought leaders in the healthcare marketing and communications space, including Weinbach, Irizarry, and Klass. “Thanks to high-deductible health plans and increasing insurance premiums, the healthcare cost burden is shifting, and consumers bear a greater […]

 

How Walmart Found Its Footing in the Amazon Era | AdAge

How Walmart Found Its Footing in the Amazon Era | AdAge

The price/convenience equation Walmart’s vaunted lower prices have made life harder for such rivals as Target, Kroger and Dollar General, even if the primary intended targets were Amazon and hard discounters like Aldi and Lidl. In a presentation to corporate officers in May, Rogers outlined Walmart’s marketing strategy, but emphasized this point: “None of this […]

 

Apple increases iPhone screen repair prices | KnowTechie

Apple increases iPhone screen repair prices | KnowTechie

However, if you are an iPhone user, it may be sensible to take extra special care of your device going forward, as it has recently become more expensive to repair the screens on a number of different iPhone models. The price hike, which was quietly introduced by Apple, was first spotted by users on Reddit. […]

 

Pricing pressures likely due to increased iron ore supply: NMDC | Business Standard News

Pricing pressures likely due to increased iron ore supply: NMDC | Business Standard News

The higher iron ore prices in 2014-15 was a result of deficit supplies owing to the restricted mining across states like Karnataka, Odisha and Goa while the current pricing scenario was largely influenced by the easing of these restrictions, according to TRK Rao, director(commercial) of NMDC. The company is facing a major competition from the […]

 

The Nokia 8 gets the pricing right, but just how right is it? | BGR

The Nokia 8 gets the pricing right, but just how right is it? | BGR

After a trend of slight overpricing to cash in on the Nokia brand name with its first three products, the Nokia 8 gets the price right. I’m left wondering how and why… Smartphone pricing is perhaps my favorite thing ever (okay, not really), because I usually tend to guess the price right. And even if […]

 

Medical innovation has a price: BioNJ Roundtable — Biopharma execs share what’s behind drug pricing | NJBIZ

Medical innovation has a price: BioNJ Roundtable — Biopharma execs share what’s behind drug pricing | NJBIZ

It’s no secret that biopharmaceutical companies have become the target of heavy criticism from politicians and consumers due to high drug prices, especially at a time when health care reform in the U.S. has become a hot-button topic. The topic is especially of interest in New Jersey, given that some of the state’s largest employers […]

 

Prescription drug pricing is totally broken, even for generics—here’s what happened — Quartz

Prescription drug pricing is totally broken, even for generics—here’s what happened — Quartz

Much less attention has been paid to the price of prescription drugs that tens of millions Americans take every day–that is, the 85% of prescriptions that treat common chronic conditions such as high blood pressure, high cholesterol, chronic pain, diabetes, and depression–and are usually generic medications, not brand-name drugs. Generics are the versions of drugs […]

 

Best Buy’s Secrets for Thriving in the Amazon Age | The New York Times

Best Buy’s Secrets for Thriving in the Amazon Age | The New York Times

Happy-looking people were huddled around tables filled with the latest gadgets from Microsoft and Apple. The video game aisle was bustling. Blue-shirted employees were helping a customer pick from a glowing wall of flat-screen TVs. There was a line — a line! — at the checkout counter. Many people, myself included, assumed that the entire […]

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Target’s app to guide customers through stores and to deals | Retail Dive

Target’s app to guide customers through stores and to deals | Retail Dive

Earlier this month, Target also announced a new pricing strategy that appears to counter an emerging price war among Walmart, grocery stores and dollar stores. The retailer said that its teams looked at the products “most important” to its customers and made sure they’re priced right daily. Target is sweeping away “all those little signs and […]

 

Why London’s Uber ban will divide opinion | Sky News

Why London’s Uber ban will divide opinion | Sky News

In an era in which most cars are routinely equipped with GPS, the years spent by traditional black taxi drivers learning “The Knowledge” – the ability to decide the quickest and most efficient route without referring to a map – have been rendered surplus to requirements. In spite of all this, TfL has effectively decided […]

 

More Headlines

Are St. Louis Protesters Affecting Cubs Clincher Ticket Prices? | Chicago, IL Patch

Are St. Louis Protesters Affecting Cubs Clincher Ticket Prices? | Chicago, IL Patch

CHICAGO, IL — Cubs fans have taken to Facebook and other social media sites to celebrate low ticket prices for the Central Division title in St. Louis on Wednesday. The third-party platform StubHub.com is selling tickets for as low as $6. Some have speculated that protesters in St. Louis may be impacting ticket prices, however […]

 

Fuel prices: The poster child for the BJP’s mismanagement of the economy | ThePrint

Fuel prices: The poster child for the BJP’s mismanagement of the economy | ThePrint

The deregulation of fuel prices was meant to make things easier for the aam aadmi, it is instead being used to increase taxation. The announcement last week of yet another hike in retail prices of petrol and diesel has created strong resentment across the country, with the average Indian citizen frustrated at the all-time high […]

 

Improved strategic understanding needed for hotel pricing | HotelierMiddleEast.com

Improved strategic understanding needed for hotel pricing | HotelierMiddleEast.com

Allan highlighted the need for hotels and hotel companies to align with an improved strategic understanding of which markets and which segments to target. “The bigger issue is that hotels and hotel companies need to have a better understanding of what particular market segments to target. By not setting leisure rates or corporate rates correctly, […]

 

Spirit Airlines Is Crashing: Is It Still a Buy for Long-Term Investors? | The Motley Fool

Spirit Airlines Is Crashing: Is It Still a Buy for Long-Term Investors? | The Motley Fool

After a strong run in its first several years as a public company, Spirit Airlines (NASDAQ:SAVE) has disappointed investors again and again since 2015. Yet while profitability has been receding, the carrier continued to exceed its long-term goal of generating “mid-teens or higher operating margins” — until now. Unfortunately, a damaging dispute with its pilots […]

 

With a New App, You Can Live the Yacht Life for $120 a Day | Bloomberg

With a New App, You Can Live the Yacht Life for $120 a Day | Bloomberg

Yachting the French Riviera carries connotations of Champagne-fueled deck parties, zipping around the turquoise sea on jet skis, and having a crew to spray your sun-dappled face with Evian mist—all for the bare-minimum price of $10,000 per week. … Sort of like Bolt Bus or MegaBus, Float is built on the principle of dynamic pricing: […]

 

MindBody App Fitness Classes Dynamic Pricing | Refinery29

MindBody App Fitness Classes Dynamic Pricing | Refinery29

If you’ve always wanted to try a fitness subscription service but have been intimidated by the prospect of pricey classes, fitness class booking service MindBody may have a solution for you. Starting this week, the MindBody app, which allows users to find and book fitness and wellness services, will allow fitness studios to opt into […]

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The C-Suite Challenges of a Trade Finance Bank | Finextra

The C-Suite Challenges of a Trade Finance Bank | Finextra

Over the last two year, globally we have seen a drop in revenues from trade finance from USD 41 billion to USD 36 billion. Banks not only need to look at ways of driving deeper wallet share of the large corporate client’s business but also look to grow its business from MSMEs and SMEs. With […]

 

Family business clicks and collects growth of more than 60 per cent | Blog

Family business clicks and collects growth of more than 60 per cent | Blog

Some price adjustments had been necessary as demand had taken off and currency fluctuations post Brexit had taken place but that was all part of doing business, according to Mr Rees. Having unveiled new depots in Central London last year and Birmingham in April of this year, DOS made further investment in its European operations […]

 

InfoTrends Study to Focus on Exploring Pricing Models for Digital Delivery in Transactional Communications | Keypoint Intelligence

InfoTrends Study to Focus on Exploring Pricing Models for Digital Delivery in Transactional Communications | Keypoint Intelligence

Keypoint Intelligence – InfoTrends is pleased to announce a new study entitled Pricing for Digital: Exploring New Models for Transactional Communications Delivery. Research begins October 2017 and final deliverables are scheduled to publish in December 2017. As delivery of transactional communications continues to shift from physical to digital environments, the pricing discussion is becoming more […]

 

NVIDIA Graphics Card Prices To Continue To Rise Until December Report Claims | wccftech

NVIDIA Graphics Card Prices To Continue To Rise Until December Report Claims | wccftech

We reported early this month that NVIDIA GeForce GTX graphics card prices will see a price uptick amounting to roughly 10% starting this month due to a global memory shortage. A new report by Mizuho’s chief semiconductor analyst emerged yesterday claiming that this pricing inflation trend will continue until December, when cryptocurrency driven demand is […]

 

HTC Preparing a U11 Plus Flagship With an 18:9 Display for a Later Unveiling | wccftech

HTC Preparing a U11 Plus Flagship With an 18:9 Display for a Later Unveiling | wccftech

In order to achieve this, HTC will have to use a glass and metal chassis to allow wireless induction but that might drive the overall price sky high. Even when the U Ultra was announced at the start of the year, it featured previous-generation hardware, no headphone jack, an expensive price tag and lack of […]

 

Market pricing in two RBA rate hikes over the next year | The Sydney Morning Herald

Market pricing in two RBA rate hikes over the next year | The Sydney Morning Herald

The Australian market is pricing in two rate hikes by the Reserve Bank of Australia over the next 12 months, despite the bank calling the top of the iron ore cycle in a surprise to some market watchers. Options traders around the world are ramping up their expectations for central bank tightening, as global investors await the […]

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European Central Bank might raise capital requirements for neobanks | Business Insider

European Central Bank might raise capital requirements for neobanks | Business Insider

As neobanks continue to proliferate, regulators around the world are assessing how best to license them. The European Central Bank (ECB) is the latest body to publish its thoughts on the matter, with a draft guide for fintechs thinking of applying for a banking license issued last week. The guide outlines the criteria the ECB will assess an […]

 

Mark Shenton’s Week: Dynamic ticket prices risks leaving angry patrons out of pocket | The Stage

Mark Shenton’s Week: Dynamic ticket prices risks leaving angry patrons out of pocket | The Stage

It has long been the case when travelling by aeroplane, that you could be sitting beside someone who has paid half the price – and of course you will both arrive at your destination at the same time. The exact same thing happens in the theatre, too, in which you could watch exactly the same […]

 

Ticketmaster exec talks politicians, touts and dynamic pricing | Music Ally

Ticketmaster exec talks politicians, touts and dynamic pricing | Music Ally

Ticketmaster’s strategy is a mixture of technology to try to separate fans from touts when making tickets available for pre-sale – this is where Verified Fan comes in – and encouraging artists to try airline-style ‘dynamic pricing’ for at least a portion of their tickets. “If you were on an Easyjet flight together, you wouldn’t […]

 

BPCL to increase focus on highway segment to arrest diesel market share decline | Economic Times

BPCL to increase focus on highway segment to arrest diesel market share decline | Economic Times

New Delhi: Bharat Petroleum Corporation (BPCL), the country’s second-largest fuel retailer, plans to ramp up focus on the highway retail segment in order to arrest the decline in the company’s diesel market share. Company officials are mulling ways— including strategic pricing, upgraded loyalty programme and changing the look of retail outlets – to bring about […]

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AI could become your personal shopper | VentureBeat

AI could become your personal shopper | VentureBeat

7. Setting the right price Big data tools like Incompetitor help retailers maintain a competitive pricing strategy by combining AI and machine learning. Retailers integrate this API into a brand’s data so a rule-based engine can optimize prices based on real-time external factors, like inventory, competitors’ out-of-stock situations, and discounts. This integration allows retailers to optimize […]

 

Bring on the 4K price war! Amazon slashes cost after iTunes move | Trusted Reviews

Bring on the 4K price war! Amazon slashes cost after iTunes move | Trusted Reviews

When Apple announced 4K movies were coming to iTunes earlier this month, it did so with an extremely pleasant surprise: Ultra HD movies would cost the same as their HD counterparts, while customers would also get free upgrades on previously purchased content. That move appears to have lit a fire under Amazon, with Jeff Bezos’ […]

 

Pricing Strategies to Profitability Grow Your Managed Services and Cloud Business | MSPmentor

Pricing Strategies to Profitability Grow Your Managed Services and Cloud Business | MSPmentor

From streaming music and online content subscriptions to meal delivery and car washing, you can find a subscription model for just about anything imaginable. The appeal is pretty straightforward: subscription services are reliable, consistent and often the most affordable option available. Whether it’s a worry-free dinner from Blue Apron or a boundless cloud-based play list […]

 

Target Slashes Prices, but It’s Profits That Will Be Cut | The Motley Fool

Target Slashes Prices, but It’s Profits That Will Be Cut | The Motley Fool

Target (NYSE:TGT) has few options other than to engage in a broad price-cutting strategy. Long under pressure from Wal-Mart and Amazon.com to remain competitive, the mass-merchandising retailer has often responded with select promotional deals to keep customers coming back. And though chains such as Kroger, Supervalu, and even Costco felt the heat from deep-discounting […]

 

Prices have come down for a lot of our products following GST: Rakesh Biyani, Future Group | The Economic Times

Prices have come down for a lot of our products following GST: Rakesh Biyani, Future Group | The Economic Times

Future Group stocks have seen such a phenomenal rally this year. Future RetailBSE -4.06 % (FRL) stock has grown about 326%, Future Consumer (FCEL) is up about 223%, Future Lifestyle Fashion (FLF) has shot up about 181%. What has changed post GST? What are the inventory levels post GST and have you undertaken any sort […]

 

Screening scrapped for fibbing filmmaker behind ‘justice pricing’ scheme | CBC News – British Columbia

Screening scrapped for fibbing filmmaker behind ‘justice pricing’ scheme | CBC News – British Columbia

Higgins used the false name Sid Mohammed when he announced a so-called justice-pricing model to charge white men as much as $20, while others would pay $10 based on the purchasing power of individual groups and “price discrimination.” Roberts says Blue Bridge Theatre Society does not believe in any form of prejudicial pricing. He says […]

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Boeing feud with Bombardier shows hypocrisy | Washington Times

Boeing feud with Bombardier shows hypocrisy | Washington Times

So why would Boeing file such an unprincipled complaint against Bombardier, and why now? The why is straightforward: the complaint is a chance to crush a potential future competitor with the blunt instrument of U.S. trade law. Even though Bombardier doesn’t today have a competing aircraft, Boeing thinks they might one day. As for the […]

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Pricing: No One Wins a Race to the Bottom | Dealer Marketing

Pricing: No One Wins a Race to the Bottom | Dealer Marketing

If the extent of your future marketing plan and strategy is to see how much money you can lose advertising both new and pre-owned vehicles below your net cost—hoping to make it all back on the trade and in the finance office—this article is just for you. It seems that with many dealerships, ever since […]

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What Amazon Knows: ‘The war for retail will be won in groceries’ | Money

What Amazon Knows: ‘The war for retail will be won in groceries’ | Money

With lower prices for higher quality goods, Amazon is posing a direct threat to America’s major supermarkets. The six largest food retailers, which had already taken a hit after the Whole Foods acquisition was announced in June, lost roughly $12 billion in value after Thursday’s announcement about the company’s intention to lower prices. That market […]

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Govt sensitive, will take right decision: BJP on fuel prices | The Indian Express

Govt sensitive, will take right decision: BJP on fuel prices | The Indian Express

The leader explained that the Centre has not intervened so far because the increase in the prices cushions the state finances as they are also depending on taxes on petroleum products at a time they are shifting to a new tax regime, GST. Fuel prices are outside the GST. “States run with this money,” he […]

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Health minister to consider U.S. drug firms’ views in pricing overhaul | Japan Today

Health minister to consider U.S. drug firms’ views in pricing overhaul | Japan Today

“We will thrash out a drastic revision by the year-end, while hearing opinions of interested parties through Central Social Insurance Medical Council.” The council is an expert panel that advises the ministry and canvasses the views of industry representatives. Japan wants to cut healthcare costs and drug prices even if this provokes opposition from U.S. […]

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Stop Giving Free Photography Services to Friends and Family | Fstoppers

Stop Giving Free Photography Services to Friends and Family | Fstoppers

Photography is a commodity; It’s not a secret, and we all know it. When I meet a new group of people, it seems that every time the conversation of “jobs” or “careers” is brought up, inevitably, someone is always a “photographer” by trade. Commodification is a process that happens to every industry, and we couldn’t prevent […]

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Pricer’s Points: The Power of Corporate Strategy: Amazon and Whole Foods | Mark Stiving

Pricer’s Points: The Power of Corporate Strategy: Amazon and Whole Foods | Mark Stiving

Amazon’s corporate strategy is to be the one-stop shop for retail, and a key part of that is to make sure everyone perceives Amazon’s prices as low. Whole Foods, often nicknamed “Whole Paycheck,” is the opposite of that perception. The winner? Amazon’s corporate strategy. The company has announced it is lowering prices at Whole Foods […]

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How Analytics Helps Price Optimization Decisions | DMN

How Analytics Helps Price Optimization Decisions | DMN

Amazon’s quick price cut for Whole Foods, and investor concerns about Blue Apron, together place a spotlight on price optimization in retail and eCommerce. I am going to try to explain some analytics reporting can aid good decisions, and support informed discussion, on product planning and associated metrics for online retail. High sales have traditionally […]

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Featured Content and Events

Book: 8 Keys to Price Optimization

Book: 8 Keys to Price Optimization

Summary: Price optimization enables companies to move beyond cost-plus pricing and determine the range of prices that could be charged for a variety of customers and products. Price optimization can increase current operating income by 1 to 4% of sales, which in many cases will translate into a 20 to 50% increase in operating income. The most sophisticated […]

 

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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“The moment you make a mistake in pricing, you’re eating into your reputation or your profits.”

     – Katharine Paine

 



 

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