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Pricing News Daily > 5/17/19

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:

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.

Drug Prices In TV Ads: How Transparent Are They? | Forbes

Drug Prices In TV Ads: How Transparent Are They? | Forbes

A website launched by pharmaceutical giant Eli Lilly earlier this year leads with a daunting statement about the price of its diabetes drug Trulicity: “Drug prices can be confusing,” it says. That’s for sure, and thanks to a new mandate from the Trump administration, consumers could find themselves even more confused. The U.S. Centers for […]

 

SIEM Pricing Models Set for a Shake-Up | DataCenter Knowledge

SIEM Pricing Models Set for a Shake-Up | DataCenter Knowledge

According to Research and Markets, SIEMs and related technologies were a $5.3 billion market in 2018, and the market is expected to growth at a compound annual growth rate of 19.7 percent – to $12.9 billion by 2023. SIEMs are the fastest-growing segment of the market, the analyst company said. But high costs of robust […]

 

GoodRX: App has saved Americans more than $10 billion on prescriptions | CNBC

GoodRX: App has saved Americans more than $10 billion on prescriptions | CNBC

Back in 2010 Doug Hirsch, a techie who has worked at Facebook and Yahoo, had a frustrating experience trying to pick up a prescription. He went to a big chain pharmacy in Los Angeles and was told — to his dismay — that his prescription would cost $450. An experienced shopper, Hirsch decided to do […]

 

Margin Pressure Continues at Dillard’s | The Motley Fool

Margin Pressure Continues at Dillard’s | The Motley Fool

Dillard’s (NYSE:DDS) has taken shareholders on a roller-coaster ride in recent years, with huge volatility around its quarterly earnings reports. The regional department store chain doesn’t hold quarterly earnings calls, present at industry conferences, or provide sales and earnings guidance, so investors never quite know what to expect. That said, margin compression has been a […]

 

No more gas price gouging says Windsor MP | Blackburn News

No more gas price gouging says Windsor MP | Blackburn News

The MP for Windsor West is demanding more protection for consumers who are being gouged at the gas pump. Brian Masse wants the federal government to restore the Gas Price Monitoring Agency and brought up the issue during Question Period in Ottawa Thursday afternoon. “Mr. Speaker, with gas prices soaring once again nothing protects Canadians from […]

 

Pentagon hunting for other instances of price gouging in wake of damning spare parts audit [Podcast] | Federal News Network

Pentagon hunting for other instances of price gouging in wake of damning spare parts audit [Podcast] | Federal News Network

The Defense Department said it is implementing a series of steps meant to detect and deter price gauging by its contractors. It’s responding, in part, to an investigation that found one of its largest spare parts suppliers routinely overcharged the military, often by four-digit margins.For starters, DoD has ordered the top officials within each of […]

 

Hyundai ventures into car-leasing to take on Zap, Revv car subscription | The Mobile Indian

Hyundai ventures into car-leasing to take on Zap, Revv car subscription | The Mobile Indian

Hyundai Motor India has today announced that it’s partnering with ALD Automotive India to venture into car-leasing in India. Hyundai plans to provide an attractive alternative to owning a car to salaried individuals, working professionals, small and medium enterprises, corporates and public sector through Hyundai Leasing. The service will first be available across Delhi NCR, […]

 

Small PBMs urge Congress: Don’t kill rebates | Healthcare Dive

Small PBMs urge Congress: Don’t kill rebates | Healthcare Dive

PBMs, the largest of which are now owned by payers like Cigna and UnitedHealth Group, have long argued rebates are an important tool to lowering prices. PBMs use their size (the number of members they cover) to negotiate rebates or discounts with drug manufacturers. Drug manufacturers want their drugs easily accessible to the greatest amount […]

 

Webinar: Successful Price Increases using Market Insights | PriceBeam

Digitalization is everywhere of course. But whereas some industries are 100% digital from birth, others are still transforming from traditional consumer or industrial products to more of a digital service industry. Regardless of where your industry and company is on the digitalization path, pricing practices are severely impacted. Digitalization means increased transparency, more information,  as well as internationalization of buying and selling, but also new opportunities for value-adding and new services that can be offered and monetized.

Participants and viewers of the webinar will learn about:

  • What trends in digitalization mean for pricing.
  • Avoiding (some) pricing pitfalls when digitalizing existing offerings
  • Using digital insights to better understand opportunities
  • How to predict optimal prices for digital services using market research

The webinar will be available from the end of May 31st, 2019. If you have already signed up you will receive a link by the end of this date. Otherwise, sign up on the right and receive a link by email to view the recording.

 

 

Webinar (On-demand): Setting the Right Price on New Products or Services | PriceBeam

In this webinar PriceBeam co-founder and Chairman, Finn Hansen, together with The Pricing Coach, Mark Peacock walk viewers through various challenges around the pricing of new products or services.

This on-demand webinar covers:

  • Common challenges when creating new products or services
  • How pricing should play a more prominent role in the innovation process
  • The various steps of product development and how pricing can add value at each step
  • Different types of price research that can improve the value of the new product
  • Psychological pricing tactics to improve the introduction of the new product or service.

 

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.

 

 

30th Annual Fall Conference & Workshops October 15-18, 2019 | PPS

We are excited to announce we’ll be in Las Vegas, NV for our 30th Annual Fall Pricing Conference & Workshops October 15-18, 2019! You can register now and take advantage of our Early Bird Offer.

 

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.

 

“The single most important decision in evaluating a business is pricing power,” Buffett told the Financial Crisis Inquiry Commission in an interview…

“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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