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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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5 Reasons To Stay At The Movenpick Hotel - #PPSAMS

Renzo Gerritsen 1 This winter, PPS is heading to Amsterdam for the 11th Annual European and Global Pricing Workshops and Conference! Europe's leading pricing professionals will meet in Amsterdam for an unforgettable industry experience. Guests and attendees from out of town are invited to stay at our host hotel, the Mövenpick Hotel Amsterdam City Centre. We've gathered five (5) great reasons to stay at the luxurious, four-star the host hotel, Mövenpick Hotel Amsterdam City Centre during #PPSAMS! 5 - Environmentally Friendly - The Hotel Möven Green Globe Certified as one of the most sustainable hotels in Amsterdam. The Green Globe, the global certification for sustainable tourism, ranked the hotel over 86%. Take comfort in knowing that throughout the hotel are sustainable practices that aid in the preservation of the environment. 4- Dining At Silk Road - Silk Road Restaurant is the premiere hotel restaurant where guests enjoy the world class menu offerings at anytime. Serving a variety of international dishes, spices, and wines, guests can experience menu delights curated by Executive Chef Jamie Sharratt. Enjoy meals while taking in the view - the restaurant is on the second floor and overlooks the River IJ. ce815c4ffd 3) Meeting Rooms - Looking to break away for a private area to conduct business or fellowship with other guests? There are twelve (12) grand meeting rooms throughout the conference centers,equipped with free WiFi. All facilities can be controlled by a small touchscreen remote control, and all tables set with elegant, fair-trade linen. f372b892de 2) Wellness Spa - Workout in our Amsterdam Health & Fitness Club on the mezzanine floor, or relax with a specialty massage. Unwind in the Lifestyle Studio or bio sauna, where guests refresh in the ice shower and spend time in the serene relaxation area. Also for wellbeing, a fitness and cardio area, and guides for your wellbeing ritual of choice. c374e906f6 1) Location - Overlooking the beautiful river IJ, Movenpick Hotel Amsterdam City Centre is located in the heart of Amsterdam and offers spectacular city views! The hotel is walking distance from Amsterdam Central Station with the option to take advantage of our free shuttle service to and from the station. View the tulips, tour museums, take in the city sights and dine at the finest restaurants. The hotel's central location allows a quick return to your comforting stay. Also, guests are directly centered to enjoy the many Workshops and Conference Speakers during #PPSAMS! 2c1eb7bab2 The Mövenpick Hotel Amsterdam City Centre is offering discounted rates for #PPSAMS attendees, so we encourage you to act soon! Book rooms for you and your team today! For more information please contact our Membership department: p: 770. 509. 9933 e: Sherica@PricingSociety.com We look forward to seeing you in Amsterdam for #PPSAMS! Continue reading

Announcing The European & Global Pricing Workshops & Conference - #PPSAMS

We're excited to announce that PPS will be returning to Amsterdam for the

11th Annual European & Global Pricing Workshops & Conference - #PPSAMS!

PPS AMS 620x350 Web Banner 9.4c From the official Press Release: This event promises to be the largest pricing event in Europe, with a bevy of industry leading keynote speakers, including Dr. Hermann Simon, Dr. Reed Holden, Caspar de Bono, and Jesse Finch Gnehm. Two full days of interactive workshops invite attendees to hear from Pricing experts who have overcome challenges, and created strategies surrounding the latest trends in the field. There is a Global Pricing For Executives Summit that brings together the leaders in pricing for one interactive workshop, and there are exciting Breakout Sessions for professionals seeking practical pricing knowledge. Don't miss this chance to mingle and network with business professionals across the globe!

Please Save-The-Date and share with all European Pricers and businesses!#PPSAMS

Registration is NOW open!

Book rooms for your team at a discounted rate at our Host Hotel - the Mövenpick Hotel.   Follow us on Twitter, LinkedIn, and Facebook for more #PPSAMS updates! Continue reading

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

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

Apologies For The Inconvenience...

Technical Difficulties - 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! The deadline to book a discounted rate at The Palace Hotel San Francisco is THIS FRIDAY!

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

#PPSSF Full-Day Presenters @ Oct. 20th Workshops

#PPSSF Workshops 10.20.15 Our Workshops provide the best forums to gain exclusive pricing knowledge that will increase business performance. Choose from several offerings including the following: There are (4) 1-Day Workshop offerings during #PPSSF. View the October 20th lineup below and learn more about the featured Speakers.

Identifying Pricing and Profitability Leakages in Your Organization:

Step-by-Step Approach How To Improve Everyday Pricing Performance

With Anton Malygin and Chethan Sharma, Directors, Pricing and Profitability Consulting Practice at PwC

Understand the benefits of addressing everyday pricing and profitability leakages. Identify the key areas for pricing and margin improvement, learn analysis needed to identify improvement opportunities and learn how organizations implement effective every day price management.

Attendee Takeaway:

  • The value of every day price management
  • Key benefits and opportunities areas for price management improvement
  • How analytics can be leveraged to provide transparency and generate one consistent “single source of truth” view using information about customers and products at the transaction level
  • Requirements to effectively execute price management improvements in an organization and how to make it sustainable

Pricing and Corporate Strategy:

The Pricing Decision Framework Proven Successful by the World’s Most Profitable Companies for Getting Pricing Done Right

With Tim Smith, Ph.D, CPP, Founder and Managing Partner Wiglaf Pricing & Adjunct Marketing Professor at DePaul University

List prices, discounting, new product development, account management, and international variations are just a short list of key pricing challenges facing modern corporations. How should corporations manage? Learn how leading firms are integrating different pricing and price management techniques throughout the corporation to maximize both growth and profitability.

Attendee Takeaway:

  • The nature of a good price
  • The impact of price concessions on profitability
  • How to connect product development to pricing decisions
  • How to connect customer account development to pricing decisions
  • How to connect international contingencies to pricing decisions
  • A proven framework for integrating pricing into strategic corporate development

Gaining Profit - And Making it Stick

With Diana Zuzek, President and CEO and Craig Alcock, Senior Partner of Beanstalk Revenue Management

Well-designed governance and infrastructure components enable organizations to generate ongoing and consistent results. Instead of unreliable or “spikey” outcomes, performance becomes predictable and routine. This workshop will examine infrastructure and governance from a strategic perspective, discussing how business objectives and market realities shape the application of infrastructure and governance paradigms. Also, presenters will discuss basic price performance metrics and review the interdependence of good performance measures and quality governance and infrastructure outcomes. Attendee Takeaway:
  • The components of infrastructure and governance
  • How these components can amplify price performance
  • Get Started Toolkit - How to assess your organization’s current governance and infrastructure capabilities
  • How to pragmatically deploy or enhance existing models
  • How to measure and monitor price performance

Bullet-Proof Your Price Increase With Sales

With Chris Mitchell, VP of Global Initiatives, and Alison Yama, Senior Dir. of Holden Advisors

Pricing technology makes implementing the mechanical aspects of price increases an easy task. The real challenge most organizations face is not "getting to a number," but rather developing an effective communications plan and a sound value rationale that the sales force can embrace with confidence and that aligns the organization around targeted price increase. Any inconsistencies in logic, messaging, or the responses of executives, sales, and customer service staff will immediately be exploited by hard-negotiating customers fighting to roll back the pricing increase. Attendee Takeaway:
  • How to develop credible tools and training for all customer-facing staff to lead and defend price increase
  • How to create an effective communications plan with rationale for leading a price increase
  • How to use formal and informal communication channels to build momentum
  • How to prepare for difficult conversations with customers that challenge the price increase

Learn more about our Workshop offerings during the 26th Annual Fall Pricing Workshops and Conference in San Francisco and register your team TODAY!

*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! The deadline to book a discounted rate at The Palace Hotel San Francisco is THIS FRIDAY!

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

Kevin's Corner - Why NOT Pricing?

1 copy "What is pricing?!" "How does pricing work with my business structure?" Pricing opportunities are everywhere, yet they sometimes seem to be completely ignored when they could easily make or break a business. Everywhere I look, I see these opportunities. My dry cleaner uses pen and paper for its order tracking system, and I wonder why they don’t offer price/product differentiation. Instead of a single price offered to get clothes dry cleaned, they could offer a tiered service at a premium. My gym next door is usually empty on weekdays at 10am, so they could offer a weekday 8-5 membership at a discounted rate. Consider the travel industry, where PROS has many airline, hotel and cruise customers. Larger hotels leverage revenue management solutions to better their business, but boutique hotels can take advantage of this too. Online travel agencies or global distribution systems all have access to these boutique hotels’ inventory information. Why haven’t they offered to handle their revenue management needs for a fee? There are many opportunities within various industries to leverage the power of pricing solutions, but many do not. Why? A primary reason is the concern about complexities of pricing education. That can be quelled with knowledge about education offerings and the many available pricing solutions. Small changes in price can lead to huge increases in profitability, which has been demonstrated and well documented numerous times. What is the risk involved in offering a better product at a higher price? You can also estimate the potential gain from offering speedier dry cleaning services for a fee by gathering information about customers who request quicker turnaround times. In the case of the gym membership, it should be very easy to observe from check-in data that your gym floor is fairly empty on weekdays. Understanding the value in mitigating risk may require investing in new technologies and pricing education, but the investments reap large rewards in the end (revenue increase). Companies only need vision, a continued interest in the changing technologies and data analysis, and the understanding that pricing is a critical component in business success. How is your company levering the power of pricing? Leave us a comment below! About Kevin Mitchell: Kevin Mitchell is President of The Professional Pricing Society (PPS) and Publisher of The Pricing Advisor monthly newsletter and the quarterly Journal of Professional Pricing. Kevin is a frequent speaker at pricing conferences and events in North America and Europe, where he often discusses trends and demographic changes within the pricing discipline. Before joining PPS in 2007, he worked for 11 years in various financial management fields with Colgate-Palmolive and General Electric. He earned an MBA in marketing from The William E. Simon Graduate School of Business at the University of Rochester, and a B.A. in economics and english from Duke University. Mitchell resides in Atlanta. His hobbies include music, cooking and sports. Continue reading

#PricingChat RECAP: Data-Driven Solutions For Pricing

On 8.27.15 PPS hosted another great #PricingChat!

Pricing Chat Recap 8.27.15Featured guest host Frederic Puech, Director of Pricing Analytics at Pricing Solutions, provided great insight into data-driven strategies that can improve revenue. Frederic, highly experienced at utilizing pricing strategies, he has managed, consulted & implemented advanced pricing optimization for over 25 years. We discussed why businesses should make using pricing strategies a priority and how data-driven strategies can limit inaccurate reporting. View the full RECAP below:
Join PPS every other Thursday for an all-new #PricingChat!
Our next #PricingChat is on 9.10.15 at 1:30 PM EDT. Join the conversation!
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3 Ways Companies Overlook Pricing

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Everyone in business knows it’s all about maximizing profits. And nothing has as much potential impact on the bottom line than smart pricing; the majority of incremental revenue from a price increase flows directly to the bottom line. Indeed a one percent increase in price for most companies often results in a 10% or greater increase in profits. Yet most companies fail to give pricing consideration the time and dedication needed for optimum effect. We believe there are three reasons why many companies give pricing decisions insufficient attention:
  1. They often wrongly believe there is not much flexibility in price decision making; that they need in almost all cases either to match competitive pricing or mark-up a fixed percentage from cost of goods to meet pre-set gross profit goals. Many companies have a built-in inertia and resistance to innovative pricing thinking, as well as a lack of awareness as to what tools and techniques are available for measurability and smart decision-making.
  2. Companies with strong sales-driven cultures often, by default, place paramount importance on revenue and unit volume to the detriment of profitability. This is typically because sales quotas are based on revenue and volume, not profitability. Sales people can often aggressively push through their points of view in the absence of a smart strategic-pricing dialogue.
  3. Consumer marketing thinking infects B2B pricing decisions. Many firms in all types of industries recruit marketing talent from large “academy” consumer marketing giants. These companies typically market commodity products like soap or diapers with unique brand narratives. These high turn, heavily advertised products generally are more sensitive to pricing swings and operate in a more complex environment involving coupons, premiums etc. It’s a far different world than most B2B environments, and the pricing experience to higher ticket or service businesses may not translate well.
So what can be done to create the right environment that will support optimal pricing decisions in B2B companies? It begins with leadership from the top, of course, and a good place to start is with the creation of a senior position dedicated to pricing strategy. Some firms already have this position, but a high majority of companies with under $500 million in sales don’t. This person would make himself knowledgeable on the very latest pricing tools and strategies, and serve as a counterpoint to the three pitfalls noted above. Enrollment in regular pricing industry conferences — such as those produced by the Professional Pricing Society — is a good place to start. There the pricing executive could share experiences with hundreds of other dedicated pricing professionals and become well versed in leading-edge diagnostic tools that can monitor the impact of pricing changes in real time. He or she could also learn how to segregate different market segments for optimal pricing and profitability. And perhaps most importantly he could learn interpersonal tactics on how to change corporate culture with regard to pricing, without ruffling too many egos. Short of attending a conference there are webinars, case studies and white papers to be devoured and digested. Pricing is too important to get passed over. While some companies have more latitude than others, you don’t have to have the brand cache of an Apple to get the maximum value for your products. What’s needed first and foremost is a respect for the benefits of an optimal pricing strategy, a curiosity for the latest pricing tools, and the willingness to affect change in your company. Paying attention to pricing can have a profound effect on profit, without the cost or risk of adding new product lines or entering new markets. About Kevin Mitchell Kevin Mitchell is President of The Professional Pricing Society (PPS) and Publisher of The Pricing Advisor monthly newsletter and the quarterly Journal of Professional Pricing. Kevin is a frequent speaker at pricing conferences and events in North America and Europe, where he often discusses trends and demographic changes within the pricing discipline. Before joining PPS in 2007, he worked for 11 years in various financial management fields with Colgate-Palmolive and General Electric. He earned an MBA in marketing from The William E. Simon Graduate School of Business at the University of Rochester, and a B.A. in economics and english from Duke University. Mitchell resides in Atlanta. His hobbies include music, cooking and sports. Continue reading
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