OnDemand WTP Pricing Research

This Week in Pricing > 4/27/19

TWIP 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:

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™).

Click a link below to learn more…

The Powerful Influence of Pennies-a-Day Price Offers | Psychology Today

The Powerful Influence of Pennies-a-Day Price Offers | Psychology Today

Sellers and fundraisers have used pennies-a-day price offers for decades. It’s a popular and effective way to quote a price. Magazine publishers first began promoting their subscriptions on a per-issue basis instead of an annual price back in the early 1980s. Consumer psychologist John Gourville explains this decision was fueled by field experiment results conducted […]

 

Prices could rise drastically if U.S. puts tariffs on Mexican tomatoes | AZ Central

Prices could rise drastically if U.S. puts tariffs on Mexican tomatoes | AZ Central

Get ready for more expensive salads: Prices for fresh tomatoes could almost double if the U.S. slaps tariffs on imported Mexican tomatoes, according to a new Arizona State University estimate. Consumers across the U.S. could pay 40 to 85 percent more for vine-ripe and other fresh tomatoes if punitive duties, scheduled to start taking effect […]

 

Congestion Pricing: Is There a Perfect Technology Solution? | Government Technology

Congestion Pricing: Is There a Perfect Technology Solution? | Government Technology

The technology supporting traffic reduction efforts like congestion pricing largely mirrors toll road technologies, and is poised to venture further into video and GPS-based systems in the future. Conversations around congestion pricing have picked up as more cities — largely internationally — have adopted the measure as a means to reduce car-related congestion in dense […]

 

Zoom IPO demonstrates power of freemium pricing | Search Unified Communications

Zoom IPO demonstrates power of freemium pricing | Search Unified Communications

Zoom Video Communications Inc. began selling shares on the public stock market on Thursday in a move that will give the video conferencing vendor financial fuel to further challenge market leaders Cisco and Microsoft. In the six years since launching its flagship online meetings platform, Zoom has become a profitable company — a rare feat […]

 

Drugmakers Reveal List Prices Online After Pressure From Trump | Bloomberg

Drugmakers Reveal List Prices Online After Pressure From Trump | Bloomberg

The world’s biggest pharmaceutical companies are revealing prices of their prescription drugs on websites for the first time in a bid to stave off pressure from the Trump administration to make even more public disclosures. The move by companies ranging from pharma giant Pfizer Inc. to biotechnology pioneer Amgen Inc. comes almost a year after […]

 

New Competition Won’t Stop Netflix From Raising Its Prices | The Motley Fool

New Competition Won’t Stop Netflix From Raising Its Prices | The Motley Fool

How customers responded to the latest price increase Investors were somewhat disappointed with management’s outlook for second quarter subscriber growth. The company forecast 5 million net additions, 4.7 million of those coming from outside the United States. Analysts were expecting about 6 million additions. The weakness stems from the United States where the 300,000 net […]

 

Common Mistakes to Avoid in a Profitability Overhaul | Modern Distribution Management

Common Mistakes to Avoid in a Profitability Overhaul | Modern Distribution Management

Claims vs. Reality In examining pricing strategy, members of the sales team will often say a distributor is overpriced in the market — don’t buy that claim, said Real Results Marketing Managing Partner Jonathan Bein, Ph.D. His company has done years of customer research that shows pricing is not a top factor for clients. When […]

 

New drug pricing analysis reveals where PBMs and pharmacies make their money | 46brooklyn Research

New drug pricing analysis reveals where PBMs and pharmacies make their money | 46brooklyn Research

For those uninitiated, 46brooklyn Research was founded by two Ohio pharmacy guys who had seen enough problems in the prescription drug supply chain to know that transparency and accountability were sorely needed. Prior to our launch in August 2018, we spent months digging into publicly-available data to expose a growing gap between the actual price […]

 

Lyft and Uber lure people with low fares, but how long will cheap ride-sharing last? | MarketWatch

Lyft and Uber lure people with low fares, but how long will cheap ride-sharing last? | MarketWatch

Ridesharing giant Lyft went public on March 28 and, earlier this month, its bigger rival Uber said it will soon follow with its own IPO. The IPO prospectus for Lyft and the initial filing to the Securities and Exchange Commission by Uber lift the veil for the first time on the sustainability of their business […]

 

Coffee Shop Owner’s New Pricing Policy Goes Viral For Teaching Manners To Rude Customers | APost

Coffee Shop Owner’s New Pricing Policy Goes Viral For Teaching Manners To Rude Customers | APost

A business owner tried to put kindness and courtesy back into business interactions. This is what he did to his pricing grid to make that happen. It seems like manners have diminished over the years, especially in the context of a consumer-business relationship. Many customers are rude not only to the employees but also to the […]

 

Top private label prices rising faster than brands | Financial Review

Top private label prices rising faster than brands | Financial Review

Prices for Woolworths’ premium private label groceries are rising faster than prices for national brands as Australia’s largest retailer attempts to protect profit margins amid rising costs. Woolworths, and to a lesser extent Coles, has been playing hardball with suppliers, resisting price rises stemming from the drought, rising energy costs and the weaker Australian dollar. […]

 

Cheap wind power distorting power market pricing, leads to legislative interest in study | Houston Chronicle

Cheap wind power distorting power market pricing, leads to legislative interest in study | Houston Chronicle

Subsidies for wind and other alternative energy were established in 1978 by Congress to reduce reliance on foreign oil, following the Arab oil embargo that sent energy costs skyrocketing. Both the Senate and House bills direct the Public Utility Commission and the state’s grid manager Electric Reliability Council of Texas to study how to change […]

 

China Cracking Down on Avengers: Endgame Price Gouging | CBR

China Cracking Down on Avengers: Endgame Price Gouging | CBR

Ahead of Avengers: Endgame’s premiere this week, theaters in China have been ordered to cap service fees. According to Beijing Youth Daily via South China Morning Post, some Chinese theaters have been selling tickets at up to three times the usual rate, putting them at around 300 yuan or about $45 each. Chinese authorities have […]

 

Interview: The Case for Surge Pricing for Everything with Alex Shartsis, Co-founder & CEO @ PerfectPrice | DojoLIVE! by Nearsoft

Interview: The Case for Surge Pricing for Everything with Alex Shartsis, Co-founder & CEO @ PerfectPrice | DojoLIVE! by Nearsoft

Date: May 1, 2019 Time: 10:00 am central Surge pricing may soon be something that we see for more than just an Uber ride, but what’s the real purpose of companies surging prices? And is it always bad for the consumer? About Alex Shartsis  Alexander Shartsis is cofounder and CEO of Perfect Price, an artificial intelligence […]

 

Pricing Transformation Q&A: Stephan Liozu, pricing expert | Atlanta Business Chronicle

Pricing Transformation Q&A: Stephan Liozu, pricing expert | Atlanta Business Chronicle

Stephan Liozu, Ph.D., is a pricing expert, sought-after speaker, author of eight pricing books, CVO at Thales Group, and founder of Value Innoruption Advisors. Known as an agent of disruption with more than 30 years in the business, Liozu has worked with Fortune 500 companies and family-owned businesses to generate ideas, value models, value propositions […]

Interview: The Case for Surge Pricing for Everything with Alex Shartsis, Co-founder & CEO @ PerfectPrice | DojoLIVE! by Nearsoft

Date: May 1, 2019

Time: 10:00 am central

Surge pricing may soon be something that we see for more than just an Uber ride, but what’s the real purpose of companies surging prices?

And is it always bad for the consumer?

About Alex Shartsis 

Alexander Shartsis is cofounder and CEO of Perfect Price, an artificial intelligence (AI) company empowering companies to make better decisions about pricing, profitability, and utilization. He is an entrepreneur and executive with background in business development, sales, product and engineering.

 

MindShare 2019 – May 14-16 | Zilliant

Want to Drive Profitable Growth in 2019?

The B2B industry is consistently failing to capture hidden pockets of revenue and profit that can be uncovered today. Learn from industry experts on how to put an end to profit leakage for good. Zilliant MindShare 2019 welcomes you to our ecosystem of best-in-class partners and thought leaders.

Each year, Zilliant brings B2B industry leaders together at their signature event – MindShare, where they are proud to help their customers tell their unique stories of how Artificial Intelligence delivers actionable insights and profitable growth.

Zilliant MindShare 2018 was an essential event for B2B manufacturers, distributors, and service providers looking to use actionable intelligence to navigate fiercely competitive industries.

Watch the MindShare 2018 highlight reel and get ready for MindShare 2019, coming to Austin, TX May 14-16, 2019.

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.

 

 

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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