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Pricing News Daily > 6/12/19

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…

 

Lawsuit: ‘Broad Conspiracy’ of Drugmakers Inflating Market | Law & Crime

Lawsuit: ‘Broad Conspiracy’ of Drugmakers Inflating Market | Law & Crime

In May, a bloc of Attorneys General from 44 states filed a federal lawsuit against pharmaceutical giant Teva Pharmaceutical Industries–the largest producer of generic drugs in the world–and 19 others, alleging that drugmakers engaged in “a broad conspiracy to artificially inflate and manipulate prices” for more than 100 different generic drugs. Connecticut Attorney General William […]

 

Want to save money at the movies? Here’s the full picture | The Guardian

Want to save money at the movies? Here’s the full picture | The Guardian

In 2018 the price of a UK cinema ticket fell for the first time in 17 years, to an average of £7.22. But, as Phil Clapp of trade body the UK Cinema Association points out, some Londoners would probably be shocked to learn there are people paying as little as that, while in other parts […]

 

NYC Needs a Direct Train to JFK, Not Uber Copter | CityLab

NYC Needs a Direct Train to JFK, Not Uber Copter | CityLab

The ride-hailing company’s plan to offer Manhattan-to-JFK helicopter shuttles overshadows the public-transit alternative that would help many more travelers. There are three ways to get from Manhattan to the city’s John F. Kennedy International Airport. All of them are pretty bad. First, there’s the subway: You can take the A or E out to eastern […]

 

Food and beverage makers look to chocolate as premiumization trend grows | Food Dive

Food and beverage makers look to chocolate as premiumization trend grows | Food Dive

Dive Brief: Jared Koerten, a Euromonitor senior food analyst, sees premiumization as “a characteristic, trait or feature of a product that elevates consumer perception, creating a willingness to pay more,” Bakery and Snacks reported. Premiumization also conveys a commitment to the time and investment it takes to achieve premium product status for a brand such as Godiva or Lindt […]

 

Inflation Now: Five Below Not Alone Hiking Prices | Investor’s Business Daily

Inflation Now: Five Below Not Alone Hiking Prices | Investor’s Business Daily

Looking for real-life signs of inflation — despite what official statistics say? Just listen to what some corporate executives are already talking about. Five Below (FIVE) this week said it will start selling select items for more than five bucks. Meanwhile, Dollar Tree (DLTR)and Dollar General (DG) executives recently said higher prices are likely coming. […]

 

Here’s how much Raptors Game 5 tickets cost — and what you could spend it on instead | Global News

Here’s how much Raptors Game 5 tickets cost — and what you could spend it on instead | Global News

Ticketmaster sold out for the entire series almost immediately last month, leaving fans with no choice but to peruse the secondary ticket market through sites like StubHub and SeatGeek. Those sites operate based on demand, and demand has never been higher. The average price for a Game 5 ticket on the secondary market is US […]

 

Xbox Game Pass for PC pricing revealed ahead of E3 event | The Verge

Xbox Game Pass for PC pricing revealed ahead of E3 event | The Verge

Microsoft has published its Xbox Game Pass for PC pricing ahead of the company’s E3 event later today. The subscription service will be available at $4.99 per month for a limited time, with access to at least 10 games during the beta phase. Gears 5, which Microsoft lists as “coming soon,” is part of the […]

 

Rebate rule good only for Big Pharma | San Antonio Express-News

Rebate rule good only for Big Pharma | San Antonio Express-News

As a pharmacist for 40 years in San Antonio, I have seen the impact rising prescription drug prices have on patients. Drug prices have soared over the last two decades, which has put untold financial stress and added health complications onto thousands of Texas families and seniors. Too often, patients will hand their medications back […]

 

Webinar (On-demand): 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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