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Pricing News Daily > 4/12/19

PND is a digest of pricing focused news, thought leadership, events, jobs, training and certification resources for pricing professionals.

This Edition is brought to you by:

Professional Pricing Society

Currently, PPS produces three major annual pricing conferences in Europe and North America. Each conference also houses a technology hall where sponsors display the latest in Pricing Solutions software. PPS also offers more than two dozen, full-day training workshops every year, taught by leaders in the pricing community. These workshops serve as the foundation for PPS’s Certified Pricing Professional (CPP) designation, our state of the art pricing certification program. Candidates may be certified after mastering a multi-stage curriculum followed by rigorous testing. Successful CPPs have acquired the core knowledge which not only places them in the top rungs of the pricing field, but also gives them the tools to enhance substantially their own careers.

Click a link below to learn more…

 

Sky TV slashes pricing for its Fan Pass streaming sports service | NZ Herald

Sky TV has slashed the price of its Fan Pass service from $100 a month to $59 a month. The online service offers Sky Sport channels 1 to 4, streamed via website or the Fan Pass app. For those who sign up to Fan Pass for six months, the price will be $39 a month […]

Despite pharma’s best efforts, Maryland advances major drug pricing bill | STAT

Despite pharma’s best efforts, Maryland advances major drug pricing bill | STAT

NNAPOLIS, Md. — The drug industry has long been seen as invincible in this small state capital, where last year it retained more than 100 lobbyists: two for every state senator, plus a dozen to spare. So drug pricing advocates considered it nothing short of a triumph this past Monday when, with an hour remaining […]

 

BMW releases pricing and specs for plug-in hybrid electric Mini in Australia | The Driven

BMW releases pricing and specs for plug-in hybrid electric Mini in Australia | The Driven

Australian drivers now have another electrified vehicle option to choose from – the newly released plug-in hybrid (PHEV) version of the Mini Countryman. Prices and availability for the Mini Countryman PHEV were released on Thursday by BMW Australia, which has been true to its word that it would release the low emissions version of the […]

 

China Says Bitcoin Is Wasteful. Now It Wants to Ban Mining | WIRED

China Says Bitcoin Is Wasteful. Now It Wants to Ban Mining | WIRED

China’s bitcoin miners have long embodied a contradiction. Cryptocurrency trading is illegal in the country; initial coin offerings, used to fund new blockchain projects, are banned; and Chinese banks can hardly touch the stuff. And yet somehow the country has remained the epicenter of global cryptocurrency mining, home to more of the computing power used […]

 

Would requiring prices in pharmaceutical ads make drugs cheaper? [Podcast] | MarketPlace

Would requiring prices in pharmaceutical ads make drugs cheaper? [Podcast] | MarketPlace

The Trump administration is expected to finalize a new rule soon that would require drug makers to include list prices in their TV ads for prescription drugs. The idea is that such transparency will lead to more competition and ultimately to lower cost for consumers. One big drug company is already including the list price […]

 

IPhone Price Cuts Are Helping Apple in China, Analyst Says | Barron’s

IPhone Price Cuts Are Helping Apple in China, Analyst Says | Barron’s

The worst may be over for Apple (ticker: AAPL) in China. The company’s decision to put a steep price on the iPhone XR put a dent in its sales in China and contributed to a disappointing December quarter, but things have slowly turned around as Apple has lowered prices on those phones in the region, […]

 

An Easter petrol price rise will make motorists cross | Illawarra Mercury

An Easter petrol price rise will make motorists cross | Illawarra Mercury

Petrol prices could be on the way up just in time for the school holidays – but it’s not an attempt at price gouging, according to the NRMA. Peter Khoury from the motoring group said the Sydney market was at at the bottom of the price cycle and expected a sudden overnight surge of as […]

 

What can be done about price gouging after a hurricane? | CNS Local Life

What can be done about price gouging after a hurricane? | CNS Local Life

I saw your column on dealing with looting after a hurricane, and my question is: What protections are in place to prevent any price gouging? Auntie’s answer: Anyone making money off other people’s misery is truly reprehensible. I can understand that certain circumstances may make it unavoidable to raise prices after a natural disaster, such […]

 

 

Webinar (On-Demand): Using AI To Get C-suite Attention For Pricing | Perfect Price and PPS

Pricing is high impact, but are you getting the attention you deserve? In any enterprise environment, the struggle for attention and resources is always an issue. As a pricing professional, how can you get c-suite attention for prioritizing pricing initiatives and allocating budget?

Aligning yourself with your company’s digital transformation initiatives is a great way to move pricing into the fold as a key driver. In particular, focusing on disruptive technologies like Cloud Technologies, AI, Machine Learning, and Decision Automation, can help to spark executive interest.

By choosing an AI vendor over other pre-internet vendors you’ll find more approachable budgets and rapid implementation timelines, which will aid immensely in getting executive buy-in. AI-based pricing tools, like Perfect Price, have measurable ROI and are proven to simulate pricing better than other technologies.

 

Workshop: Pricing Innovation – Setting the Right Price for New Products or Services | PriceBeam

Join PriceBeam and The Pricing Coach on the 24th of April from 8:00 to 10:00 am – some of the best pricing experts who will offer in-depth analyses in the pricing of new and innovative products. Finn Helmo Hansen will present “Using Market Research to Price Innovation. Setting the right price for new products or services.” Mark Peacock will present “How smarter pricing strategies can maximise revenues & profits and deliver better customer value.”

Pricing is quickly becoming a key factor in product development. Sign up for this event and see how the changes in pricing will help you prepare.

 

Pricing in the Age of AI: What You Need To Do Now | Perfect Price Breakout Session at PPS Spring Conference

Artificial intelligence, machine learning, and automation are rapidly transforming every part of global commerce — including pricing. From retail giants like Amazon to on-demand services like Uber to leading airlines, hotels, and car rental agencies, forward-thinking companies are using AI to turn data into massive returns. This rapid shift is creating opportunities and confusion. To remain competitive in an increasingly AI-driven world, immediate action is critical.

This presentation focuses on the latest generation of AI technologies currently being utilized by companies around the world to match their supply with ever-evolving consumer demand, given changing marketplace factors and consumer behaviors.

ATTENDEES WILL LEARN

  • How companies can develop an AI pricing strategy and get buy-in from their entire organization
  • How to build a framework for their unique needs, or leverage existing frameworks for success
  • How to create consistently achievable revenue goals with AI pricing

 

Value-Based Pricing& the Quantification of Differentiation Value | Stephan Liozu Workshop at PPS Spring Conference

More firms and their pricing leaders are adopting value-based pricing every year. Research shows increased adoption of this progressive pricing orientation moving from 17% in 2008 to about 25-30% in 2018. Part of the deployment process of value-based pricing is the implementation of the Economic Value Estimation (EVE®) process to quantify differentiation value before it can be communicated to customers and capture from them. While adoption of value-based pricing is increasing, pricing professionals still face difficulties across their organizations. In fact, the EVE® process can be fairly mechanical and, with proper training, can be understood fairly rapidly. The challenge remains therefore what to do with the value models and calculated data.

In this unique workshop, we review the latest science on value-based pricing and the EVE® process. We also review how to operationalize the outcome in value-based innovation, value-based marketing and value-based selling strategies.

ATTENDEES WILL LEARN

  • How to operationalize value-based pricing and EVE® in your day-to-day business
  • How to practically link value-based pricing with innovation, marketing, and selling
  • How to respond to challenges in deploying the EVE® and value quantification process

 

30th Annual Spring Workshops & Conference May 7-10, 2019 | PPS

We are excited to announce we’ll be in Atlanta, GA for our 30th Annual Spring Pricing Workshops & Conference May 7-10, 2019! You can register now and take advantage of our Early Bird Offer (Buy 2 Get 1 Free, expires March 29th).

 

Webinar (On-Demand): Pricing in New Product Development – From Afterthought to Integral Part of the Process | PriceBeam

This webinar looks at how pricing can and should play a more integral role in New Product Development (NPD) instead of being an afterthought once the product is already designed and produced.

Participants and viewers will learn about:

  • How to use pricing and willingness-to-pay research to create new products or services that have higher success rates once launched
  • How to integrate willingness-to-pay research in the product design process
  • How to better understand what prospective customers actually value, and what they don’t value
  • How to test different concepts for market viability and ability to achieve solid prices in the market place.

 

Webinar (On-Demand): Machine Learning & Data – The Latest Pricing Opportunity | PPS and Vistaar

In today’s ever-evolving world, data and software driven strategies are imperative to creating sustained commercial success.

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.

In this PPS webinar, Vistaar’s Director of Product Management, Dushyant Zutshi, discusses how advanced algorithms and machine learning techniques drive intelligent pricing and sales strategies for success in the data-driven world.

 

Webinar (On-Demand): Machine Learning & Pricing with PPS | Perfect Price

Watch CEO of Perfect Price, Alexander Shartsis, discuss machine learning and pricing with the Professional Pricing Society (PPS).

PPS is the world’s largest association of pricing professionals, and usually asks tough questions!

 

Webinar (On-Demand): Value-Based Pricing foundation done right – Conjoint Analysis | PriceBeam

Value-Based Pricing is considered a superior strategy for most industries and businesses. But it also requires a solid foundation of data and market insights. In this webinar we will take an in-depth look at the powerful insights that can be created through price research, in particular using conjoint analysis

Participants and viewers will learn about:

  • How Value-Based Pricing can be supported with price research
  • Different price research methods
  • How Conjoint Analysis can provide powerful insights and support for a Value-Based Pricing strategy
  • Tips and tricks for running a conjoint analysis price research project.

 

Explore our collection of valuable pricing resources including:

 

Pricing News on LinkedIn

Join 1,000’s of your peers in the our LinkedIn discussion group. The group features informative pricing strategy and technology focused news, events, resources, thought leadership, cartoons, quotes, and discussions about the latest pricing strategy, tactics, and tech successes and failures in the news.

 

 

“The single most important decision in evaluating a business is pricing power,” Buffett told the Financial Crisis Inquiry Commission in an interview released by the panel last week. “If you’ve got the power to raise prices without losing business to a competitor, you’ve got a very good business. And if you have to have a prayer session before raising the price by 10 percent, then you’ve got a terrible business.”

     – Warren Buffett

 

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