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This Week in Pricing > 7/20/19

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

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The Perfect Price AI platform makes millions of pricing decisions for forward-thinking companies around the world. Our cloud-based service allows customers to quickly anticipate and react to changes in demand in real-time – enabling them to maximize revenues, profit, and utilization.

Its machine learning leverages proprietary data – the biggest competitive advantage–to increase average rates, utilization, and profit.

Perfect Price works with forward-thinking companies in industries ranging from rental car and airline to sports clubs and gas stations.

 

Hotels Face Growing Backlash Against Resort Fees | Consumer Reports

Hotels Face Growing Backlash Against Resort Fees | Consumer Reports

Hotels that levy resort fees—daily charges for using the hotel’s facilities—are under growing pressure to disclose them more clearly or include them in their advertised room price. Karl A. Racine, the attorney general for Washington, D.C., announced Tuesday that his office had filed suit against hotel giant Marriott International, accusing it of “price deception” in the […]

 

Marriott CEO rejects ‘drip pricing’ allegation, defends its resort fees [Video] | Yahoo Finance

Washington D.C. Attorney General Karl Racine, who is accusing the hotel giant of “drip pricing,” or charging consumers hidden fees, shouldn’t expect a quick settlement in his lawsuit against Marriott (MAR). Instead, the attorney general should expect an extended backyard brawl — done via the courts, naturally. “It’s frustrating of course because we have had […]

 

Uber accidentally charges riders 100 times more than advertised fare price | New York Daily News

Uber accidentally charges riders 100 times more than advertised fare price | New York Daily News

Talk about surge pricing! Uber passengers in several cities across the country took to Twitter to complain of a glitch that charged riders 100 times more than advertised fares, costing some thousands of dollars for trips that should have only been a few bucks. In one of the worst cases, Aaron Himelman said his wife […]

 

Tesla’s New Pricing Scheme Proves Simpler Is Better | Inc.com

Tesla’s New Pricing Scheme Proves Simpler Is Better | Inc.com

Tesla has streamlined its pricing on the Model S and Model X. And there’s something to be said for that. The car company on Tuesday removed the Standard Range versions of its Model S and Model X, effectively eliminating the two cheapest versions of its popular cars. The move means the base model Model S […]

 

More Than 25% of Consumers Willing to Pay More Than $10 a Month for $6.99 Disney + | Multichannel

More Than 25% of Consumers Willing to Pay More Than $10 a Month for $6.99 Disney + | Multichannel

A new consumer survey reveals that more than a quarter of U.S. internet users are willing to pay significantly more than the $6.99 a month Disney will charge for its upcoming SVOD service, Disney +. According to the GlobalWebIndex survey of 2,504 U.S. internet consumers ages 16-64, most (2,155) described themselves as “Disney Fans.” And […]

 

The best Amazon Prime Day deals in 2019 | TechRadar

The best Amazon Prime Day deals in 2019 | TechRadar

The ultimate Amazon Prime Day deals list is here, and while you were sleeping, we put together what’s worth buying today and tomorrow and left out what’s not. Prime Day 2019 is when you can buy everything at a discount this summer, and not just from Amazon, as other online retailers slash prices in a […]

 

Amazon Prime Day 2019: the best tech deals | The Verge

If you’re reading this, then Amazon Prime Day 2019 is underway. Prices have fallen for countless products, including tech, and you’ll be able to shop the deals for 48 hours, until 2:59AM ET / 11:59PM PT on Tuesday, July 16th. First things first: to get in on the deals, you need to be an Amazon […]

 

A last-minute ruling means TV ads won’t list drug prices as planned | Marketplace

A last-minute ruling means TV ads won’t list drug prices as planned | Marketplace

If you watch television these days, you’ve seen drug advertisements. They tend to feature happy people doing happy, normal things, thanks to a new drug (often, while a litany of side-effects plays in the background). At midnight last night, those commercials were supposed to change. A new rule was scheduled to kick in that would […]

 

4 ways to rethink airline RM in a personalised world | EyeforTravel

4 ways to rethink airline RM in a personalised world | EyeforTravel

Travel suppliers were early adopters of analytical tools for demand forecasting and pricing, but the drive to personalisation is making RM work harder. Tom Bacon explains Revenue management (RM) has certainly always been highly quantitative – requiring unique statistical and business-analytical skills to optimise use of sophisticated systems. Today, however, personalisation drives RM to ever-higher […]

 

Price Controls Best Way to Cut Health Costs, Economists Say | Medpage Today

Price Controls Best Way to Cut Health Costs, Economists Say | Medpage Today

WASHINGTON — Are price controls really the best solution to lower healthcare costs? “I’m a card-carrying economist — my card may be revoked, [but] I’ll just say ‘Yes,’” said Dan Polsky, PhD, professor of health economics at Johns Hopkins University in Baltimore, speaking Monday at an event on U.S. health spending sponsored by the Robert […]

 

Medicare price lookup tool good model for private market | Fox Business

Medicare price lookup tool good model for private market | Fox Business

A true free market relies on open, fair competition. In order to achieve this, an informed consumer Opens a New Window. is required. They must be fully aware of the choices they have at their disposal and how much they cost Opens a New Window. , so they can properly weigh their options. At that […]

 

Whole Foods grocery prices haven’t notably decreased since Amazon acquisition, study finds | Consumer Affairs

Whole Foods grocery prices haven’t notably decreased since Amazon acquisition, study finds | Consumer Affairs

In the two years since Amazon acquired Whole Foods, the average cost of groceries for Prime members who shop at chain has dropped a mere ten dollars, according to a study released Wednesday by Gordon Haskett Research Advisors. After purchasing Whole Foods in 2017 for $13.7 billion, Amazon set out to help the notoriously pricey […]

 

Airmail Users Frustrated About Sudden Switch to Subscription-Based Pricing on iPhone and iPad [Updated] | MacRumors

Airmail Users Frustrated About Sudden Switch to Subscription-Based Pricing on iPhone and iPad [Updated] | MacRumors

Airmail users awoke today to find out that the popular email app has switched to a subscription-based pricing model on the iPhone and iPad. Airmail for iOS is now free to download on the App Store, but push notifications and multi-account support have become premium features priced at $2.99 per month or $9.99 per year […]

 

Tesla updates pricing and options across lineup, discontinues several variants | Electrek

Tesla updates pricing and options across lineup, discontinues several variants | Electrek

Tesla updated its online design studio on Monday evening with several changes in pricing and options across its entire lineup. Some things become cheaper, others become more expensive, and several variants are going away. Over the last year, Tesla has been consistently adjusting its prices, especially in the US as its federal tax credit has […]

 

Tesla Tweaks Model Lineup in Bid to Simplify Pricing; Shares Slip | TheStreet

Tesla Tweaks Model Lineup in Bid to Simplify Pricing; Shares Slip | TheStreet

Tesla (TSLA – Get Report)  shares drifted lower in pre-market trading Tuesday after the clean-energy carmaker dropped the cheapest versions of its Model S sedan and Model X SUV from its product lineup and adjusted some of its prices in a bid to simplify its offerings of models and ranges of battery-powered vehicles. The automaker on […]

 

Tesla’s Surprise $6,410 Price Cut Sparks a Rant From One Devotee | Bloomberg

Tesla’s Surprise $6,410 Price Cut Sparks a Rant From One Devotee | Bloomberg

Laurence Blau, 78, woke up Tuesday morning to a frustrating figure: $6,410. That’s the dollar amount that Tesla Inc. had lopped off the list price of a fully loaded performance edition of the Model 3 sedan the night before. Blau, who paid $68,400 for the car less than three weeks earlier, called it a “bitter […]

 

Uber now gives passengers ride credits for buying stuff through Cargo’s in-car commerce platform | VentureBeat

Uber now gives passengers ride credits for buying stuff through Cargo’s in-car commerce platform | VentureBeat

Cargo, an in-car commerce company that helps ride-hailing drivers earn extra cash by selling stuff to passengers, is officially launching its Cargo Store mobile app today, giving riders the chance to earn cash back on a host of goods from an expanded marketplace. By way of a quick recap, Cargo has so far partnered with […]

 

Irn Bru profits nosedive 20% as drinks bosses blame sugar tax | Daily Star

Irn Bru profits nosedive 20% as drinks bosses blame sugar tax | Daily Star

Manufacturer AG Barr has this morning warned how its total sales are expected to plunge by £123million – around 10% – as profits will “collapse” this year. Irn Bru has particularly lost its appeal in its native Scotland, where the famous orange beverage is often described as its “other national drink”. AG Barr revealed how […]

 

Critics Say Wind Farm Rates Constitute Price Gouging | The Independent

Critics Say Wind Farm Rates Constitute Price Gouging | The Independent

There are a lot of ways to deflect the criticism, but really none to refute it: The South Fork Wind Farm will charge higher rates for the power it generates — three to five times more than its parent company, Ørsted/Deepwater, will charge in nearby markets. Despite complaints from all sides, freedom of information requests, […]

 

Texas now boasts the nation’s strongest laws to shield patients from surprise bills | TribTalk

Texas now boasts the nation’s strongest laws to shield patients from surprise bills | TribTalk

Sweeping legislation that will help protect thousands of Texans from the calamity of surprise bills and price-gouging associated with freestanding emergency rooms (FSERs) was a high point of the 86th Texas Legislative session. With the stroke of his pen, Gov. Greg Abbott signed into law some of the strongest patient protection laws in the nation […]

 

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.

 

15th Annual European and Global Pricing Workshops & Conference November 27-29, 2019 in Berlin, Germany | PPS

We are excited to announce we’ll be in Berlin, Germany for our 15th Annual European and Global Pricing Workshops & Conference to be held November 27-29, 2019!

 

“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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