OnDemand WTP Pricing Research

This Week in Pricing > 5/4/19

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:

PriceBeam

The struggle is real for B2B and B2C Pricing, Marketing, and Finance team leaders to capture fresh, reliable, and actionable Pricing Intelligence data to be able to effectively optimize all prices for all market segments GLOBALLY.

  • Are you confident that you have the right price for your existing products or services in every market?
  • Do you know what the price should be for a new product yet to be launched, or existing products into new markets?
  • Do you know what features are REALLY driving your customers willingness to pay by micro-market segment?
  • Do you have the tool to capture the data required to support REAL value-based pricing?

Click to learn more

Girl’s $143,000 bill for snakebite treatment reveals antivenin price gouging | Ars Technica

Girl’s $143,000 bill for snakebite treatment reveals antivenin price gouging | Ars Technica

Snakebites can be painful and scary. But they may seem like weak nips after the hospital’s billing department sinks their teeth in. Emergency treatment for a copperhead bite in a 9-year-old Indiana girl last summer cost a jaw-dropping $142,938, according to a report by Kaiser Health News. The bill includes $67,957 for four vials of […]

Tags: Drug PricesDrug PricingHealth Insurance PricingHealth Services PricingInsurance PricingPremium Pricing StrategyPrice GougingPrice IncreasesPrice OptimizationPrice Setting,Price TransparencyPricing AnalyticsPricing BacklashPricing ModelPricing PoliciesPricing SciencePricing Technologypricing transparencyservices pricingStrategic PricingTransparent Pricing

 

New research: Airbnb’s impact on peak-season hotel pricing | EurekAlert!

New research: Airbnb’s impact on peak-season hotel pricing | EurekAlert!

As hotels experience increased pressure from the growth of hosting sites such as Airbnb, new research from the Tepper School of Business proposes strategies for hotels to cope with the competition while suggesting that government regulation is limited in its ability to control industry disruption. Hui Li, Assistant Professor of Marketing, and Kannan Srinivasan, H.J. […]

Tags: AirbnbCustomer SegmentationDynamic PricingHotel Room PricingINFORMSPaperPricing ModelPricing SciencePricing StrategyPricing Technologyrental car pricingRental Pricing StrategyRevenue ManagementSegmentation

 

What Price Beauty for Women? Far More Than for Men | HealthDay

What Price Beauty for Women? Far More Than for Men | HealthDay

WEDNESDAY, May 1, 2019 (HealthDay News) — Facial moisturizers are a mainstay against the march of time, smoothing over wrinkles and keeping dry skin supple. But new research shows that women pay a much higher price for that anti-aging weapon than men do. In the study, dermatologists from Massachusetts General Hospital checked the prices for […]

Tags: Gender PricingPersonalized PricingPink PricingPrice DiscrepanciesPrice DiscriminationPricing BacklashRetailWillingness to Pay

 

Google’s Upmarket Smartphone Move Was Poorly Timed | The Motley Fool

Google’s Upmarket Smartphone Move Was Poorly Timed | The Motley Fool

Reports surfaced last year that Google was working on midrange Pixel phones, dubbed “Lite” models at the time but now expected to be called the Pixel 3a and 3a XL. In shifting its focus back down to midrange price points, Google is implicitly acknowledging that its premium pricing strategy has not worked well. Apple has been raising […]

Tags: Mobile Phone PricingPrice ChangesPrice PressuresPrice sensitivityPrice Setting,Pricing PsychologyProduct Pricing StrategyRetailWillingness to Pay

 

Who Needs to Attend MindShare 2019? | Zilliant

Who Needs to Attend MindShare 2019? | Zilliant

MindShare 2019, our annual user conference, will be here before you know it: May 14-16, to be exact. The roster is almost full, but registration is still open for last-minute signup. If you’re not yet registered but fit into one of the categories below, you’re required* to join us in beautiful downtown Austin! *Well, highly […]

Tags: Artificial IntelligenceConferenceEvent,eventsmachine learningPrice ManagementPrice OptimizationPricing AnalyticsPricing OrganizationPricing Science,Pricing TeamPricing TechnologyTrainingworkshop

 

PODCAST: Dynamic Pricing’s Real-World Applications | Perfect Price

PODCAST: Dynamic Pricing’s Real-World Applications | Perfect Price

As pricing technology becomes more and more sophisticated, incorporating complex data analysis and using AI and Machine learning to optimize and deploy pricing, we’re seeing a wider acceptance of Dynamic Pricing. Industries like airlines, hospitality, and ride-sharing have led advances in dynamic pricing, but other industries are now opening up to the possibilities. Both B2C […]

Tags: Artificial IntelligenceCustomer Segmentation,differential pricingDynamic Pricingmachine learningPrice ChangesPrice OptimizationPricing SciencePricing StrategyPricing Technologyrental car pricingRental Pricing StrategyRevenue Management

 

Unregulated gas-price ‘gouging’ means huge profits at the expense of drivers in Vancouver, says economist | The Star

Unregulated gas-price ‘gouging’ means huge profits at the expense of drivers in Vancouver, says economist | The Star

VANCOUVER—Is it time to cap gas prices? With consumers paying record-high prices in Metro Vancouver, Premier John Horgan said this month his government would consider “some relief” for those who can’t afford $1.70 a litre. At least one economist says assistance should come in the form of regulation. Marc Lee, a senior economist at the […]

Tags: commodity pricingGasoline Priceslowering pricesoil pricesPrice GougingPrice War

 

Research shows 50% of motorists think dual pricing should be illegal | Insurance Age

Research shows 50% of motorists think dual pricing should be illegal | Insurance Age

A survey by Go Compare show half of the drivers surveyed felt it should be illegal for insurers to reserve best prices for new customers. Research commissioned by GoCompare Car Insurance, revealed that 50% of drivers think it should be illegal for insurers to reserve the best prices for new customers at the expense of […]

Tags: Dual pricingInsurance PricingPrice DiscriminationPrice GougingPrice OptimizationPricing BacklashPricing Technology

 

NJ reaches ‘understanding’ with NY on congestion pricing | New York Post

NJ reaches ‘understanding’ with NY on congestion pricing | New York Post

New Jersey Gov. Phil Murphy claimed that he reached a “conceptual understanding” with Gov. Cuomo on Wednesday to credit the toll paid by Garden State motorists crossing the George Washington Bridge against the Manhattan congestion fee. But, hours later, New York officials insisted nothing had been settled. “Gov. Cuomo and I came to a conceptual […]

Tags: Behavioral PsychologyCongestion PricingDynamic PricingLyft,Pricing ModelPricing Psychologyroad pricingtaxi pricingtoll road pricingTraffic CongestionUberuseage based pricingWillingness to Pay

 

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

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 […]

Tags: B2BB2CBehavioral PsychologyCustomer SegmentationPerceived Valueprice anchoringPrice Settingpricing pressurePricing PsychologyPricing Research,Pricing StrategyPricing TechnologyRetailStudyTicket PricingValue Based BuyingValue Based PricingWillingness to Pay

 

CKPT: Disruptive Pricing Model to Fire Up $20B+ Market | Zacks Small Cap Research

CKPT: Disruptive Pricing Model to Fire Up $20B+ Market | Zacks Small Cap Research

Checkpoint Therapeutics (NASDAQ:CKPT) will be releasing highly anticipated interim data from its Phase I clinical trial this quarter. The readout will be for CK-301, an anti-PD-L1 antibody, which is expected to include safety and efficacy data from approximately 40-50 patients with a variety of tumor types including non-small cell lung cancer and cutaneous squamous cell […]

Tags: Drug PricesDrug PricingHealth Insurance PricingHealth Services Pricing,Insurance PricingPremium Pricing StrategyPrice GougingPrice IncreasesPrice OptimizationPrice SettingPrice TransparencyPricing AnalyticsPricing BacklashPricing ModelPricing PoliciesPricing SciencePricing Technology,pricing transparencyservices pricingStrategic PricingTransparent Pricing

 

Autonomous vehicles make congestion pricing even more critical | TechCrunch

Autonomous vehicles make congestion pricing even more critical | TechCrunch

Autonomous vehicles will soon be ubiquitous on city streets. Before this happens, we should ask ourselves: Will they whisk us quickly through cities or make traffic worse? A car is a car, whether self-driving or people driven—taking up a great deal more space than busses, streetcars, or trains—so let’s make sure the cost is right. […]

Tags: Behavioral PsychologyCongestion PricingDynamic PricingLyftPricing Model,Pricing Psychologyroad pricingtaxi pricingtoll road pricingTraffic CongestionUberuseage based pricing,Willingness to Pay

 

Hospitals sue over price curbs | Bangkok Post

Hospitals sue over price curbs | Bangkok Post

Private hospitals have filed a lawsuit with the Central Administrative Court against the Commerce Ministry’s proposal to put medical and healthcare expenses on the state price control list. They said the proposal and ensuing attempts to control the prices of such products and services have damaged their business. Commerce permanent secretary Boonyarit Kalayanamit said the […]

Tags: Drug PricesDrug PricingHealth Insurance PricingHealth Services PricingInsurance PricingPremium Pricing StrategyPrice GougingPrice IncreasesPrice OptimizationPrice SettingPrice Transparency,Pricing AnalyticsPricing BacklashPricing ModelPricing PoliciesPricing SciencePricing Technologypricing transparencyservices pricingStrategic PricingTransparent Pricing

 

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

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): 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.

 

“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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