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We Celebrate 1000 CPP Alumni

We're excited to announce that we've awarded 1000 members their CPP Designations! We proudly celebrate the 1,000th CPP Alumni, Marianne Gynde, of Medtronic! The Professional Pricing Society (PPS) is pleased to announce our 1,000th Certified Pricing Professional (CPP). Marianne Gynde is a Senior Manager, Pricing of Contracting & Tender Management for Nordics, Baltics & Poland at Medtronic, and has earned the designation of CPP through her hard work and diligence. Based in Denmark, Marianne has been with Medtronic since 2004 and has joined the ranks of the best and brightest in Pricing.
“The CPP experience has been great. The program was professionally setup, and gave me new knowledge, new tools, and inspiration for how to do my daily job even better.The face-to-face training I was lucky to participate in has given me a broader network within my own country, and I now have peers in different industries that I can share ideas with, and get further inspiration.” - Marianne Gynde, Medtronic
Since 2003, individuals like Marianne have joined the elite designation of the Certified Pricing Professional and used their knowledge to impact the field of Pricing. The CPP certification program is the standard for advanced knowledge and expertise in the field of Pricing. Carrying this designation indicates knowledge and skills in pricing across industries, and is achieved through any combination of online courses and live workshops at our yearly conferences. The certification is maintained by completing 2 credits every 2 years after the initial certification. The re-certification helps PPS maintain the integrity of the program and keeps each alumni informed on current trends and best practices. About The Professional Pricing Society: The Professional Pricing Society (PPS) is a member association of professionals committed to distributing pricing expertise throughout the business world. We provide leading-edge pricing and revenue management best practices. PPS produces up to five major annual pricing conferences in Europe, North America, South America, and Asia. 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. For more information about the CPP Certification Program, please contact: Michael Tatonetti +1-770-509-9933 michael@pricingsociety.com Continue reading

Crapido: A New Responsibility Assignment Matrix

Why is there a need for CRAPIDO? Discover why one pricing professional strongly believes the industry can use another Responsibility Assignment Matrix. Businesses must clearly define roles, especially within pricing, and without organization, they become inefficient, ineffective, underperforming and a drain. CRAPIDO is a way to impart a bit of discipline into the current system. Learn more by clicking the article image below: What are your thoughts? Continue reading

The Chicago Spring Pricing Conference Town Hall Event

During the Spring Pricing Workshops and Conference event, attendees can connect with the Keynote Speakers like never before in the #PPSCHI18 Town Hall! You asked, and we delivered! For years, the Pricing Workshops and Conference attendees have requested to better connect with the Keynote speakers. We're providing the chance to deep dive into the topics that concern your business during the Town Hall Forum! This year, we're delivering two days, Thursday, May 3 and Friday, May 4th, of Town Hall opportunities. Speak with one of eight Keynotes from (4) Pricing Tracks of your choice and ensure takeaways to implement back at the office.

Tools & Techniques

Data Science

Pricing Experts

Pricing Practitioners

View the Facebook Live video below about our new Town Hall Forum!

Click the image to learn more & register your team:

We'll see you in Chicago!

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Harnessing Big Data For Better Pricing Results

Pricing strategies, like big data, can be key to improving profits in business. According to a study conducted by McKinsey & Company, even a 1 percent price increase can translate into an 8.7 percent boost in operating profits (assuming no loss of volume). However, companies continue to fail to price their products and services appropriately, and as a result, take a hit to their bottom line. Watching companies lose revenue in this manner is particularly troubling considering the flood of data now available to assist businesses large and small. For those able to simplify big data's complexity, the reward is substantial. Now we're not suggesting leveraging artificial intelligence is easy. In fact, the explosion of digital customer touch points has made it quite challenging for companies operating in a range of industries to keep their price points on pace. However, by failing to uncover and act on the opportunities big data presents, many businesses are leaving millions in profit on the table. Want to know the secret to increasing your organization's profit margins? Harness big data to find the best price for your products and services. Is your business overwhelmed by big data? For example, if your company is comparable to Amazon, you have thousands of products to competitively price. As the company's pricing professional, it is your responsibility to help determine the optimal price a customer is willing to pay for those products. Maybe you've considered leveraging big data to gain insight into customer behaviors and market trends, but sifting through such a significant amount of data is overwhelming. Therefore, you continue using manual price-setting methods. We have all used manual pricing processes, but the problem is that these methods are tedious, time-consuming, and at times ineffective when compared to the robust analyses and lucrative cross-selling opportunities you can uncover with big data. With artificial intelligence, you can determine a consumer's specific needs, the value they place on particular products and use that information to equip sales representatives to close more deals. 3 Steps To Turn Big Data Into Profits If you're a part of a company that has massive product numbers, then getting comfortable with big data is critical. These three steps can help you get started. 1. Listen To The Data - With artificial intelligence you can analyze a consumer's purchases, predict their future buying decisions and use the data to price your product higher based on value consumption. By listening to the data, you can also analyze buying behaviors to determine the willingness of your consumers to pay X price for a particular product or service. 2. Embrace Automation - Analyzing price points for thousands of products is too expensive and time-consuming. By using automated systems, you can explore narrow customer segments, determine what drives value for each one and match your findings with historical transactional data. With automation, you can also replicate and tweak data analyses, so you're not starting from square one every time. 3. Collaborate and Communicate Regularly - Setting new prices is as much a communications issue as an operational one. It's important that your pricing team works with sales representatives to explain the reason behind price recommendations and to show them how you leverage a particular price. By doing so, your sales representatives will trust the prices enough to sell them to consumers. Equally important is developing clear communications plan to provide a pricing rationale that highlights product valued and then tailoring those arguments to the customer. Bottom line: to get the price right, we suggest helping your organization explore the advantages of big data to avoid suffering the high cost of lost profits. To learn exclusive tips on ways to prevent your organization from leaving millions of lost profits on the table, click the link below to learn about our Virtual University just for CPP Alumni!
Interested in learning more about our CPP Designation program?
Click the link below!
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Take A FREE Price Optimization Assessment With Vistaar!

One of our Corporate Sponsors, Vistaar is offering friends and members of the Professional Pricing Society a FREE Price Optimization Assessment! Vistaar provides solutions that enable companies to optimize prices and drive profitable growth through improved planning, selling and tracking processes. Learn how to price long-term agreements that meet revenue, margin, and customer specific objectives with an Agreement Price Optimization (APO) SaaS Solution! B2B organizations and sales professionals: take advantage of the FREE APO Value Assessment, designed to identify 200-400 bps of actionable value in just weeks! Click the image below to start the FREE Assessment for YOUR company today! pathupdated Thanks to our friends at Vistaar and happy pricing! Continue reading

The Pricing Workshops and Conference Call For Speakers

Announcing the Official Call For Speakers! Spring 2018 PPS is heading back to Chicago for the 29th Annual Spring Pricing Workshops & Conference, and we're looking for new Keynote & Workshop Speakers!

WATCH below for more details:

[video width="" height="" mp4="https://cdn.shopify.com/s/files/1/0182/3165/6512/files/CFS.mp4"][/video] Speaker Submission Requirements: Presentation Title: This is the opportunity to capture the potential audience! Please make sure the title is catchy and directly speaks to the proposed topic. Abstract: The abstract should be presented in a problem/solution format that will engage an audience and provide value in the explanation/presentation. The abstract is limited to approximately 750 characters. Objectives: Your objectives will be 3 statements that finish the start ‘Participants will learn…’ and should highlight what participants will be able to practically apply when they return to work after the conference. The objectives are limited to approximately 400 characters. Bio: Your professional bio should include your current job title and organization, key areas of expertise or knowledge, any authorships and professional association with PPS/CPP, and finally education earned. The bio is limited to 500 characters. Preferred Topics:
  • Career success stories from Pricing Practitioners
  • Real life case studies; data may be manipulated for proprietary protection
  • Pricing Psychology and Behavioral Economics
  • Pricing Strategy & Tactics
  • Managing the Pricing Department
  • Revenue Management
  • Pricing and Strategy by Country, Region & Market Segment
  • Healthcare / Pharmaceutical / Medical Pricing
  • Sales Enablement
Important Note: Due to the large volume of responses, PPS will not consider submissions with incomplete data, a missing Title, Abstract or Bio, and those not meeting the required character count. View the FULL list of requirements and submit an application HERE. Questions? Contact the Director of Education and Certification: Michael Tatonetti Phone: +1.770.509.9933 E-mail: michael@pricingsociety.com We look forward to your submissions and we'll see you in Chicago during #PPSCHI18! Continue reading

Negotiating With Backbone - A #PricingChat Recap

We had a Twitter conversation with Reed Holden and Alison Yama of Holden Advisors all about Pricing Negotiation. Dr. Reed Holden has released a new book, Negotiating With Backbone: Eight Sales Strategies To Defend Your Price And Value, Second Edition and we're excited to support.
"High pressure procurement tactics for lower prices for customers is one of the biggest causes of lost profits in business today. Sales teams that can counter these tactics and close deals at the right price are the single biggest opportunity for improved revenue profit. The Second Edition has more of what our clients' sales teams ask for: uncovering and communicating value, unleashing the power or Give-Gets, and negotiating with a customer you can't afford to loose. " - Dr. Reed Holden
We chatted a bit about several points surrounding this important topic for pricing professionals. View the #PricingChat Recap:
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Pricing Is NOT An Afterthought Pt. 2 - "3 Practices For Effective Pricing"

Continuing the Pricing Is Not An Afterthought Pt. 1 discussion, let's follow up with three leading strategy suggestions to improve pricing results. Many companies fall victim to the pitfalls of new product pricing. Here are three practices proven to work for leading companies, that have utilized effective pricing strategies in business. 1. Build Price And Value Alignment Early Companies have maximum leverage to shape the long-term profitability of a product during the early stages of the development lifecycle, where cost to make changes is very low. There is also a freedom during early development stages that allow for a very high and compelling value proposition. screen-shot-2014-11-17-at-11-24-41-am 2. Utilize Value Analytics To Calibrate Market Positioning Price products based on the value delivered to the customer versus the next best alternative. This not only meets the needs of specific customer segments and competitive positions, but also ensures that the firm is designing and delivering the right level of value for the cost and return thresholds. There are two fundamental types of value analytics used by leading companies: Economic Value Bridges are most effective when the value proposition can be defined economically, in terms of reduced cost of ownership, increased sales productivity, greater asset utilization, etc. admin-ajax Value Mapping is used to depict the landscape of competitive offerings against two axes- price and perceived benefits- when product differentials are more perceptual and qualitative. 3. Treat Target Price As A Design Requirement By collaborating internally for early alignment on the value story, supported with solid value analytics, companies establish a clear target price and performance specifications for the product development stage. When unfavorable cost variations arise during development, leading practitioners resist the impulse to let the target price drift and remain committed to a justifiable value proposition. screen-shot-2014-11-17-at-10-45-16-am What are your best practices in pricing? Questions? Leave them below! Continue reading
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