How to set the right price for innovation.
Whether you are a new enterprise looking for a company-wide pricing model, or a well-established organisation planning to launch a new product, the initial prices will significantly determine your position within the market. A position that is hard to change. In fact, 80 to 90 percent of poor pricing models price products too low, leaving substantial amounts of money on the table and making customers raise doubts about the quality of the offering. On the other hand, if the price is too high, it can scare customers away.
- The importance of price in supporting innovation and long-term profit growth
- Common mistakes when pricing new technologies
- Why segmentation is fundamental to an optimised value-based pricing strategy
- Tools and methodologies to establish customer value / price
- Perceived value
- Financial value
- Utilising customer research
- Using different price structures to communicate value and overcoming barriers to adoption e.g. leasing, pay per use, performance-based pricing.
- Supporting price implementation through the sales team and wider organisation.