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Established companies and venture investors all depend on innovation to drive future business. Most companies now have targets for the percentage of revenue to come from new offers over the next five years. Take this little pop quiz to see what our readers are thinking on this.
There a many drivers for this change. Machine Learning and Artificial Intelligence are being commoditized and finding their way into virtually all software. The Internet of Things is turning many physical products into hybrids of software and hardware. Data and systems of all kinds are being connected in new ways leading to many emergent behaviors. Demographic change is rippling through society changing basic assumptions about economic growth and human needs. We are living in a complex shifting environment where what works today will not necessarily provide value tomorrow. Innovation is the new normal.
So most companies are investing heavily in new offers. But there is a question hanging over all of early stage innovation. How will we set prices?
Pricing is central to innovation. Price is central to how the value of new innovations is communicated. It is how the innovator captures part of the value created. Without value capture there is no ongoing innovation. And with the rapid expansion in the range of data and tools to understand the data, new pricing models are emerging daily. Pricing itself has become a locus for innovation.
Many innovation teams struggle with pricing. They don't need to. There are now well understood frameworks for pricing innovations. At our November 30 workshop we will work through them with you. The seminar will cover market segmentation and customer targeting, pricing strategy, pricing architecture, price setting and how to manage discounting.
After participating in this workshop you will understand how to
- Segment your market and which segments to target
- Connect data models for usage-value-pricing
- Choose a pricing metric
- Build a pricing architecture
- Set prices
- Manage discounting
This workshop is designed for the people responsible for
- Product and service development
- Driving revenues from innovation
- Making investment decisions
Early bird discount in effect until Nov. 19.
Contact us at firstname.lastname@example.org