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What Happened In Henderson... A Recap of #PPSVEGAS19

What Happened In Henderson... A Recap of #PPSVEGAS19

A brief recap of the exciting time had in Las Vegas during the 30th Annual Fall Pricing Workshops and Conference event! 

Hundreds of pricing professionals from around the world gathered for four, full days at the M Resort and Spa for pricing workshops, training, Keynote speakers and the greatest networking receptions for the event of the season.

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Thank you, Chicago: The #PPSCHI18 Recap

On May 1-4, 2018 PPS hosted the Pricing event of the season in Rosemont, IL, the 29th Annual Spring Pricing Workshops & Conference! Well-over 500 registered attendees descended on the Windy City for another wonderful Pricing Conference event. We were thrilled to return to the luxurious Loews Chicago O'Hare hotel, the host location for all of the Pricing Workshops, Keynotes, Breakout Sessions Town Hall events and more. On Tuesday and Wednesday, we welcomed pricing practitioners from across the country for two, full days of Pricing Workshops. Building on the lessons learned, attendees had the option to pass the quiz in order to receive Certified Pricing Professional (CPP) Credits toward their designation.       Attendees heard from dynamic Keynote Presenters on the Pricing Conference days Thursday and Friday, absorbing important pricing strategies and ways to capitalize on existing business models. Another highlight was the return of the Town Hall Sessions. This exclusive opportunity gave practitioners more time with our expert presenters and a deep-dive into their action plans. During the evening there was time to explore the beautiful city of Chicago, dine at the delicious restaurants around the Loews Chicago Hotel, and of course, interact with the PPS Team. We had a blast - and have the photos and hashtag traction (search #PPSCHI18 across social media platforms) to prove it!

View the growing Photo Gallary on our Facebook Page by clicking the image below:

Stay tuned for the official video releases featuring Keynote presentations, a peek into the Sponsor Hall and the attendee interviews coming soon!

Don't miss the upcoming Fall Pricing Workshops & Conference event in Dallas, TX!

Click the image below to learn more and register your team to attend today! Continue reading

2017 European Pricing Workshops & Conference in Barcelona Recap

The PPS 13th Annual European and Global Pricing Workshops and Conference was a huge success! Our conference was the highest-attended European Conference to date! Over 200 professionals from over 30 countries, representing 80 companies, making #PPSBCN17 one of the largest Conference events to date. Our agenda included 7 full-day workshops covering important topics such as Core Pricing Skills, Behavioral Economics, Pricing Into Channels, Accelerating Towards AI-Based Pricing and 5 Steps To Running A Price Improvement Project for Practical Superior Results. We kicked off the first day of the Pricing Conference with compelling keynotes from Stephan M. Liozu, Ph. D., CPP, Bettina Kallenbach, Ignacio Gómez and Just Schürmann. Also joining us were senior pricing practitioners from Philips, RELX Group, ING Retail and Miquel Group. As the only organization exclusively committed to growing the pricing profession and disseminating pricing expertise throughout the business world, PPS is proud to offer a conference that is concentrated on your connection, growth, and success in the pricing industry. [caption id="attachment_6918" align="aligncenter" width="660"] The Professional Pricing Society Team[/caption]

Enjoy the photos in our Facebook Album #PPSBCN17 by clicking the image below (directed to PPS Facebook Page)

We're already booked for 2018! Learn more about our Fall Pricing Workshops and Conference event in Dallas, TX - #PPSDALLAS18!

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Unlock Six Sigma Pricing

UNLOCK THE HIDDEN PRICING FACTORY

Companies have the power to implement pricing capabilities needed for sustained profitable growth - Six Sigma Pricing. Navdeep Sodhi, Managing Director of Sodhi Pricing, is our featured guest blogger sharing expert advice on how to unlock potential in your business.
The State of Pricing Within every company exists a hidden pricing factory that holds the key to shore up customer trust, employee confidence, competitiveness as well as the pricing capabilities needed for sustained profitable growth. It is remarkable how far a little pricing discipline goes to make this happen. Instead, most companies seem to manage Pricing as a fixer-upper house where, somehow, external appeal take precedence over ongoing house-keeping and maintenance. For instance, exterior painting adds nothing to the dwellers’ comfort or to the value of the house if the water pipes inside are leaky or the electrical systems are out of code. Every company, much like the fixer-upper, needs external as well as internally- focused improvements, but one without the other or in the wrong order is simply wasted effort. The Hidden Cost Factory Thirty-plus years ago, manufacturers discovered a hidden factory for controlling overhead costs. Historically, overheads had been taken for granted in conjunction with labor costs. But when decades of increased automation shrank labor costs so much that overhead costs were exposed as a glaring 100-200% of labor costs. Companies decided that such a huge burden (ratio of overhead and labor costs) for maintaining waste was too large to be affordable or acceptable. This unleashed a wave of waste-elimination and continuous improvement efforts using quality tools like Lean, and Six Sigma which were adopted in non-manufacturing environments as well. The Hidden Pricing Factory Overhead costs are brought under control by reducing scrap, overtime, rework, overproduction, excessive inventory and such. The notion of higher quality at lower costs gets enthusiastic support from any organization. Interestingly, price execution also relies on repetitive operational steps or processes that need to work in tandem — efficiently and effectively. Pricing processes are prone to getting out of control because of all sorts of internal and external changes, such as changing customer needs, competitive moves, or regulation. Irrespective of industry, the hidden pricing factory is built upon ad hoc and short-focused pricing decisions, gut feel rather than analysis, and unclear roles and responsibilities which adversely impact customer loyalty and the company bottom-line. Therefore, continuous improvement tools used as cost control measures can also improve pricing execution. Pricing processes are prone to getting out of control because of all sorts of internal and external changes, such as changing customer needs, competitive moves, or regulation. Irrespective of industry, the hidden pricing factory is built upon ad hoc and short-focused pricing decisions, gut feel rather than analysis, and unclear roles and responsibilities which adversely impact customer loyalty and the company bottom-line. Therefore, continuous improvement tools used as cost control measures can also improve pricing execution. The Cause For Poor Price Execution Ironically, internal stakeholders on the revenue side seem to harbor divergent views regarding the hidden pricing factory. Whether minding the “invisible hand” of the market or self-serving agendas, they arrive at sub-optimal decisions that often sidestep company’s interests. Therefore, even when pricing strategy is sound, pricing execution fails to deliver to its full potential. For instance, offering one-off terms to customers which require manual intervention in every transaction make invoices error-prone and the customers upset. Since senior executives often approve such deals but get rarely involved in the execution, they remain unaware of such problems. This may explain the adoption of radical changes in strategy or organizational structure as their obvious choice when it comes to fixing pricing problems. Larry Bossidy, as President International at Honeywell and later its Chairman and CEO, recognized this in his book, Execution:
“My job at Honeywell International these days is to restore the discipline of execution to a company that had lost it. Many people regard execution as detail work that’s beneath the dignity of a business leader. That’s wrong. To the contrary, it’s a leader’s most important job.”
Why Six Sigma Pricing Given the added organizational complexity for pricing, continuous improvement tools, such as Six Sigma and Lean, need to be adapted accordingly. While the five phases of Six Sigma–Define, Measure, Analyze, Improve, and Control – remain as such, the definitions and scope can change. For instance, the definition of customer needs to reflect the goals of an internal business leader who champions process improvement. Hence, the name Six Sigma Pricing. As illustrated in my co-authored book and Harvard Business Review article, Six Sigma Pricing is not designed simply to be a statistical solution. It is more relevant as a framework for creating alignment between people, processes, and systems and to draw in leadership support. Whether a company has existing Lean or Six Sigma capabilities or not, there are tools for identifying root causes for prevailing problems and for prioritizing improvement actions. It is more relevant as a framework for creating alignment between people, processes, and systems and to draw in leadership support. Whether a company has existing Lean or Six Sigma capabilities or not, there are tools for identifying root causes for prevailing problems and for prioritizing improvement actions. Roadmap for Profitable Growth Companies can start by picking low hanging fruit rather than chasing impossible goals at the get-go. Cross-functional stakeholders team up to review evidence that supports setting shared goals and collaborating on execution. Thus illuminated, the once hidden pricing factory is now accessible through prioritized set steps on a roadmap. With careful consideration of failure modes, that is, pre-empting possible missteps, agreement on metrics for tracking and control, smart companies can achieve sustained profitable growth within weeks and months. Click to view the original post by Navdeep Sodhi. For more pricing education and to learn in-person at our Workshops and Conference, join us in Dallas, Texas this Fall for #PPSDALLAS18! Click the image below to learn more. Continue reading

PPSMIA Event Recap - 28th Annual Spring Pricing Workshops & Conference

We had an incredible time during the 28th Annual Pricing Workshops and Conference event in Miami, FL - below is our #PPSMIA Event Recap! Workshop attendees soaked up intensive pricing knowledge throughout Tuesday and Wednesday. We held a Latin American Summit, the first of it's kind, featuring pricing experts speaking to LATAM industry-specific subjects led by Susana Lopez, Fabio Freitas, Guillermo Leal, and Manuel Osario. To celebrate the close of the Workshops and start of Conference, attendees were invited aboard the Venetian Lady for a fabulous yacht cruise! If you weren't on the Yacht Cruise... you missed out.    

Click the image below to view Video Clips:

Thursday, May 4th, marked the start of the Pricing Conference and hearing from captivating Keynote speakers including Karen Berg, Tom Nagle, and Steve Haggett. Attendees learned the industry's best strategic shares during the (4) Breakout Session Tracks: Pricing Practitioners, Pricing Experts, Tools and Techniques and CPQ/Sales Operations. Thursday was also the eve of Cinco de Mayo and the wonderful PROS Reception, where pricing professionals in attendance networked and mingled amongst our Featured Sponsors. Everyone had a great time enjoying the Mexican-themed catering and music! Friday's powerful Keynotes set the ending tone for a Pricing Conference few will forget. Overall, attendees raved about the amount of learning, great connections made and daily fun had during #PPSMIA!

Click the image to view the full Facebook Photo Album:

Maybe it was the great weather, the excitement from first-time attendees (welcome everyone!), the incredible Speaker presentations that readied pricers for new seasons in business, or the memories made in the evenings at the host hotel and throughout the city of Miami. Either way... #PPSMIA was an epic success!

Click the image to view the collection of #PPSMIA Tweets

Thank you to everyone that made sure #PPSMIA was amazing! A special "thank you" to the hospitable staff at the Hilton Miami Downtown! We are busy planning our 13th Annual European & Global Pricing Workshops and Conference event in Barcelona, Spain! Click the image below to learn more:

Can't make it to Barcelona? Plan now for Spring in Chicago!

Sign up to the Conference Interest Email List for more information about our upcoming Conference locations, dates, speakers and more!

CLICK TO SIGN UP FOR THE CONFERENCE INTEREST EMAIL LIST!

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Pricing Done Right: Podcast With Tim Smith

Pricing Done Right - A Talk With Dr. Tim Smith, CPP

Pricing is so much more than putting numbers on quotes or associating them with products. Pricing includes aligning one's pricing strategy their business strategy, defining a competitive price reaction plan, setting target prices, managing price perceptions, managing price discounts, and executing all of this with accuracy and speed.

How do leading organizations get all of this right?

Click the image below to listen to our talk with Dr. Tim Smith, CPP "Pricing Done Right"

Pricing Podcast with pricing expert Tim Smith PhD About Tim Smith:

Tim J. Smith, Ph.D., CPP is the founder and CEO of Wiglaf Pricing, an Adjunct Professor of Marketing and Economics at DePaul University, and the author of Pricing Strategy and Pricing Done Right. Pricing Done Right has been called “essential reading” by CEOs. Pricing Strategy has been described as “the most comprehensive pricing strategy book.” Tim began his career in quantum mechanics before his interest in transferring technological advances to societal implementations led to pursuits in business strategy. His focus on pricing is a natural culmination of his deep love of mathematics and lifetime enjoyment of selling.

Tim is a featured presenter during the Fall Pricing Workshops and Conference event in Dallas, TX!

Click the image to learn more & register for the #PPSDALLAS18 Pricing Workshop with

Dr. Tim Smith, CPP

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5 Reasons To Stay At The Palace Hotel #PPSSF

During every Pricing Workshop and Conference around the globe, we pride ourselves on selecting the best hotel in the city! We want our attendees to have the most amazing experiences, and spectacular stays. This fall, during #PPSSF we invite you to stay at the beautiful, newly renovated, host hotel, The Palace Hotel San Francisco. 5 Reasons To Book @ The Palace Hotel We have FIVE reasons to book a room NOW: 5. Exclusive Afternoon Tea -Enjoy afternoon tea in the Garden Court, one of the most beautiful settings for dining and holiday events in San Francisco. Since the early 1900’s, guests have enjoyed elegant Garden Court tea service - where families and friends have enjoyed this magical experience. Immerse yourself in the romance and charm, and delectable menu offered during the turn-of-the century grandeur and heritage experience. lux373lo-176715-The-Garden-Court-726x382 4. Sunday City Brunch - The new Garden Court à la carte brunch highlights the unique, indigenous elements of San Francisco with a locally sourced menu, live entertainment, city chic cocktails and sparkling wines. Offered Sundays from 10:00AM to 1:30PM, a reservation is essential for this award-winning Brunch. 3. Fitness Center & Hotel Pool - the fitness center and indoor pool have been completely renovated - and it's breathtaking. lux373po-166450-Pool-Dusk-crop-726x382 The soaring sky lit ceiling opens the space to natural light and showcases the San Francisco cityscape. A neutral palette, stone tile surround and stainless accents create a serene environment. Chaise lounges, comfortable seating and whirlpool welcome relaxation. No need to visit anywhere else to upgrade your wellness experience while in San Francisco! 2. Award-Winning Guest Suites - Remodeled, timeless architecture, detailed molding and trim, and fashionable interiors evoke supreme luxury in every room of the gorgeous Suites. Designed to evoke a feel of chic, private residences in beautiful downtown San Francisco, the eleven foot ceilings and expansive windows are truly one-of-a-kind, perfection. And it’s waiting just for you They are designed to feel like Select from Grand Deluxe, The Deluxe, or the Superior Room for the ultimate options in comfort. The-Palace-Hotel-San-Francisco-Drand-Deluxe-Accommosations-1-400x208 1. Location - The Palace Hotel is conveniently located near San Francisco's premiere shopping areas! Within walking distance are the biggest names in designer, luxury shopping (including Barney's, Gucci, YSL, Cartier, etc.). Only minutes away from the lobby, guests will find iconic things to do in the city such as visiting the Embarcadero Ferry Building, Chinatown, Union Square, cable cars, San Francisco Museum of Modern Art and much more! We are so excited about the upcoming stay in historic luxury.

Address: The Palace Hotel

2 New Montgomery Street

San Francisco, California 94105

BOOK A ROOM BY CALLING PPS!

*Currently our Main site, PricingSociety.com is experiencing technical difficulties. However, you can STILL register for our upcoming Fall Pricing Workshops and Conference in San Francisco #PPSSF! Reach us directly:

Call – 770.509.9933 or Email: Cherica@PricingSociety.com.

We look forward to speaking with you and apologize for the temporary inconvenience. Follow us on Twitter, LinkedIn, and Facebook for more #PPSSF updates! Continue reading
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