Search Results: monetizing-innovation-how-smart-companies-design-the-product-around-the-price

Monetizing Innovation

How Smart Companies Design the Product Around the Price

Author: Madhavan Ramanujam,Georg Tacke

Publisher: John Wiley & Sons

ISBN: 1119240883

Category: Business & Economics

Page: 256

View: 5234

Surprising rules for successful monetization Innovation is the most important driver of growth. Today, more than ever, companies need to innovate to survive. But successful innovation—measured in dollars and cents—is a very hard target to hit. Companies obsess over being creative and innovative and spend significant time and expense in designing and building products, yet struggle to monetize them: 72% of innovations fail to meet their financial targets—or fail entirely. Many companies have come to accept that a high failure rate, and the billions of dollars lost annually, is just the cost of doing business. Monetizing Innovations argues that this is tragic, wasteful, and wrong. Radically improving the odds that your innovation will succeed is just a matter of removing the guesswork. That happens when you put customer demand and willingness to pay in the driver seat—when you design the product around the price. It’s a new paradigm, and that opens the door to true game change: You can stop hoping to monetize, and start knowing that you will. The authors at Simon Kucher know what they’re talking about. As the world’s premier pricing and monetization consulting services company, with 800 professionals in 30 cities around the globe, they have helped clients ranging from massive pharmaceuticals to fast-growing startups find success. In Monetizing Innovation, they distil the lessons of thirty years and over 10,000 projects into a practical, nine-step approach. Whether you are a CEO, executive leadership, or part of the team responsible for innovation and new product development, this book is for you, with special sections and checklist-driven summaries to make monetizing innovation part of your company’s DNA. Illustrative case studies show how some of the world’s best innovative companies like LinkedIn, Uber, Porsche, Optimizely, Draeger, Swarovski and big pharmaceutical companies have used principles outlined in this book. A direct challenge to the status quo “spray and pray” style of innovation, Monetizing Innovation presents a practical approach that can be adopted by any organization, in any industry. Most monetizing innovation failure point home. Now more than ever, companies must rethink the practices that have lost countless billions of dollars. Monetizing Innovation presents a new way forward, and a clear promise: Go from hope to certainty.

Monetizing Innovation

How Smart Companies Design the Product Around the Price

Author: Madhavan Ramanujam,Georg Tacke

Publisher: John Wiley & Sons

ISBN: 1119240867

Category: Business & Economics

Page: 256

View: 1232

"The book explains how most companies get sidetracked by Product-Driven Thinking and how to innovate by starting with the price customers will pay, and creating the product for that price. It will present a process that Simon-Kucher & Partners has used to help dozens of others avoid innovation failure by making pricing and marketing their guiding light throughout the product development process"--

Monetizing Innovation

How Smart Companies Design the Product Around the Price

Author: Madhavan Ramanujam,Georg Tacke

Publisher: John Wiley & Sons

ISBN: 1119240875

Category: Business & Economics

Page: 256

View: 7871

Surprising rules for successful monetization Innovation is the most important driver of growth. Today, more than ever, companies need to innovate to survive. But successful innovation—measured in dollars and cents—is a very hard target to hit. Companies obsess over being creative and innovative and spend significant time and expense in designing and building products, yet struggle to monetize them: 72% of innovations fail to meet their financial targets—or fail entirely. Many companies have come to accept that a high failure rate, and the billions of dollars lost annually, is just the cost of doing business. Monetizing Innovations argues that this is tragic, wasteful, and wrong. Radically improving the odds that your innovation will succeed is just a matter of removing the guesswork. That happens when you put customer demand and willingness to pay in the driver seat—when you design the product around the price. It’s a new paradigm, and that opens the door to true game change: You can stop hoping to monetize, and start knowing that you will. The authors at Simon Kucher know what they’re talking about. As the world’s premier pricing and monetization consulting services company, with 800 professionals in 30 cities around the globe, they have helped clients ranging from massive pharmaceuticals to fast-growing startups find success. In Monetizing Innovation, they distil the lessons of thirty years and over 10,000 projects into a practical, nine-step approach. Whether you are a CEO, executive leadership, or part of the team responsible for innovation and new product development, this book is for you, with special sections and checklist-driven summaries to make monetizing innovation part of your company’s DNA. Illustrative case studies show how some of the world’s best innovative companies like LinkedIn, Uber, Porsche, Optimizely, Draeger, Swarovski and big pharmaceutical companies have used principles outlined in this book. A direct challenge to the status quo “spray and pray” style of innovation, Monetizing Innovation presents a practical approach that can be adopted by any organization, in any industry. Most monetizing innovation failure point home. Now more than ever, companies must rethink the practices that have lost countless billions of dollars. Monetizing Innovation presents a new way forward, and a clear promise: Go from hope to certainty.

Innovation in Pricing

Contemporary Theories and Best Practices

Author: Andreas Hinterhuber,Stephan M. Liozu

Publisher: Routledge

ISBN: 1351732358

Category: Business & Economics

Page: 406

View: 4672

Pricing has a substantial and immediate impact on profitability. Most companies, however, still use costs or competition as their main basis for setting prices. Product or business model innovation has a high priority for many companies, yet innovation in pricing received scant attention until the first edition of this groundbreaking book. This new edition of Innovation in Pricing builds on the success of the first, examining the ways in which pricing innovation can drive profits through cutting-edge academic research and best practice case studies from leading academics, business practitioners and consultants in pricing. The second edition has been fully revised and updated according to the latest developments in pricing, with: revisions to all chapters new chapters, including a chapter on business model and pricing model innovation a new introduction that makes explicit just what strategic pricing can do for your organization. This book is the only book dedicated to innovation in pricing and is an essential read for business executives, innovation managers and pricing managers wishing to treat innovation in pricing as seriously as they treat product, service or business model innovation. It is also valuable supplementary reading for advanced students of marketing and sales.

Confessions of the Pricing Man

How Price Affects Everything

Author: Hermann Simon

Publisher: Springer

ISBN: 3319204009

Category: Business & Economics

Page: 221

View: 4657

The world’s foremost expert on pricing strategy shows how this mysterious process works and how to maximize value through pricing to company and customer. In all walks of life, we constantly make decisions about whether something is worth our money or our time, or try to convince others to part with their money or their time. Price is the place where value and money meet. From the global release of the latest electronic gadget to the bewildering gyrations of oil futures to markdowns at the bargain store, price is the most powerful and pervasive economic force in our day-to-day lives and one of the least understood. The recipe for successful pricing often sounds like an exotic cocktail, with equal parts psychology, economics, strategy, tools and incentives stirred up together, usually with just enough math to sour the taste. That leads managers to water down the drink with hunches and rules of thumb, or leave out the parts with which they don’t feel comfortable. While this makes for a sweeter drink, it often lacks the punch to have an impact on the customer or on the business. It doesn’t have to be that way, though, as Hermann Simon illustrates through dozens of stories collected over four decades in the trenches and behind the scenes. A world-renowned speaker on pricing and a trusted advisor to Fortune 500 executives, Simon’s lifelong journey has taken him from rural farmers’ markets, to a distinguished academic career, to a long second career as a n entrepreneur and management consultant to companies large and small throughout the world. Along the way, he has learned from Nobel Prize winners and leading management gurus, and helped countless managers and executives use pricing as a way to create new markets, grow their businesses and gain a sustained competitive advantage. He also learned some tough personal lessons about value, how people perceive it, and how people profit from it. In this engaging and practical narrative, Simon leaves nothing out of the pricing cocktail, but still makes it go down smoothly and leaves you wanting to learn more and do more—as a consumer or as a business person. You will never look at pricing the same way again.

Don't Just Roll the Dice

A Usefully Short Guide to Software Pricing

Author: Neil Davidson

Publisher: N.A

ISBN: 9781906434380

Category: Business & Economics

Page: 84

View: 3815

How do you price your software? Is it art, science or magic? How much attention should you pay to your competitors? This short handbook will provide you with the theory, practical advice and case studies you need to stop yourself from reaching for the dice. Table of Contents Chapter 01: Some - but not too much - Economics Chapter 02: Pricing Psychology: What is your product worth? Chapter 03: Pricing Pitfalls Chapter 04: Advanced Pricing Chapter 05: What your price says about you (and how to change it) Why read this book? "At Business of Software 2007 Michael Pryor held an impromptu session on how to price your software. So many people turned up, and so many people kept on arriving, that by the time they d introduced themselves there was no time left to talk about software pricing. I ve had similar experiences; in fact, How do I price my software? is probably the most common question I m asked by software entrepreneurs and product managers. This handbook is an attempt to answer that question." Neil Davidson, Author. About the Author Neil Davidson is co-founder and joint CEO of Red Gate Software. Red Gate was founded in 1999 and now employs some 150 people. It was Cambridge News business of the year in 2006 and has been in the Sunday Times top 100 companies to work for three years running. It was founded with no VC money and little debt. Neil is also founder of the annual Business of Software conference and runs the Business of Software social network.

Winning at New Products

Creating Value Through Innovation

Author: Robert G. Cooper

Publisher: Basic Books

ISBN: 0465093337

Category: Business & Economics

Page: 448

View: 4820

A fully updated edition of the classic business reference book on product development from a world renowned innovation management scholar For more than two decades, Winning at New Products has served as the bible for product developers everywhere. Robert G. Cooper demonstrates why consistent product development is vital to corporate growth and how to maximize your chances of success. Citing the author's most recent research, Winning at New Products showcases innovative practices by industry leaders to present a field-tested game plan for achieving product leadership. Cooper outlines specific strategies for making sound business decisions at every step-from idea generation to launch. This fully updated and expanded edition is an essential resource for product developers around the world. "This is a must read. There's so much new in this book, from how to generate the breakthrough ideas, picking the winners, and driving them to market successfully." --Philip Kotler, Professor of International Marketing, Northwestern University, Kellogg School of Management

The New Oil

Using Innovative Business Models to turn Data Into Profit

Author: Arent van 't Spijker

Publisher: Technics Publications

ISBN: 1634620569

Category: Computers

Page: 230

View: 3341

How can you leverage the value of your company’s data? Well over a century ago oil drove the development of innovations such as the internal combustion engine, central heating and plastics, changing our world and our economy. Oil, as a technology, fueled an economic force that inexorably changed the way people lived and worked. Today, data is fueling a very similar change: it is the driving force for new business models and disruptive technologies that impact companies in every imaginable industry. The New Oil shows how data changes the traditional business paradigm. How it impacts not just high-tech, high-profile companies, but also old-school, low-tech industries all around the world; data lives and breathes within every single company. In The New Oil, Arent van ‘t Spijker explains how companies such as Google, Nike and Adara are leveraging a ‘Data Driven Strategy’. Many other examples highlight the applications and commercial potential for data. Van 't Spijker describes five typical business models for monetizing data that help you to develop viable business models for leveraging data in your own company. He then shows how to successfully put these business models to practice. Above all, he will inspire you to follow in the footsteps of market leaders.

The ROI of Pricing

Measuring the Impact and Making the Business Case

Author: Stephan Liozu,Andreas Hinterhuber

Publisher: Routledge

ISBN: 113505181X

Category: Business & Economics

Page: 236

View: 2988

As with executives and managers in so many other business functions, pricing specialists are being challenged more and more to substantiate the added value of their activities. Pricing is a core function of every business, and needs not only to contribute positively to short- and long-term results, but also to document its impact to the bottom line. A fundamental part of this is the pricing ROI calculations. This book, edited by globally renowned thought leaders Andreas Hinterhuber and Stephan Liozu, is the first to outline contemporary theories and best practices of documenting pricing ROI. It provides proven methods, practices and theories on how to calculate the impact of pricing activities on performance. Marketing ROI is now a common concept: this collection proves to do the same for pricing. Hinterhuber & Liozu introduce the concept of pricing ROI, documenting and quantifying the return on pricing activities and on the pricing function itself is of increasing relevance today and in the future – in times of budget constraints. 20 world class specialists explore the concept of pricing ROI under both a theoretical perspective and a managerial perspective to shed much-needed light on how to measure and increase pricing ROI. This groundbreaking book will enlighten students and specialists of marketing and sales, pricing managers and executives alike.

Design a Better Business

New Tools, Skills, and Mindset for Strategy and Innovation

Author: Patrick Van Der Pijl,Justin Lokitz,Lisa Kay Solomon

Publisher: John Wiley & Sons

ISBN: 1119272114

Category: Business & Economics

Page: 272

View: 999

How to use this book: 8 Chapters; 48 Case studies; 20 Tools; 7 Core skills; 29 Designers; 36 Hacks; >150 Visuals.

Building the Digital Enterprise

A Guide to Constructing Monetization Models Using Digital Technologies

Author: Mark Skilton

Publisher: Springer

ISBN: 1137477725

Category: Computers

Page: 230

View: 8881

The digital economy is at a tipping point. This practical book defines digital ecosystems, discusses digital design using converging technologies of social networking, mobility, big data and cloud computing, and provides a methods for linking digital technologies together to meet the challenges of building a digital enterprise in the new economy.

Inside the Box

A Proven System of Creativity for Breakthrough Results

Author: Drew Boyd,Jacob Goldenberg

Publisher: Simon and Schuster

ISBN: 145165930X

Category: Business & Economics

Page: 272

View: 1054

“The ‘inside-the-box approach’ can reveal key opportunities for innovation that are hiding in plain sight” (Daniel H. Pink, author of Drive). The traditional attitude toward creativity in the American business world is to “think outside the box”—to brainstorm without restraint in hopes of coming up with a breakthrough idea, often in moments of crisis. Sometimes it works, but it’s a problem-specific solution that does nothing to engender creative thinking more generally. Inside the Box demonstrates Systematic Inventive Thinking (SIT), which systemizes creativity as part of the corporate culture. This counterintuitive and powerfully effective approach to creativity requires thinking inside the box, working in one’s familiar world to create new ideas independent of specific problems. SIT’s techniques and principles have instilled creative thinking into such companies as Procter & Gamble, Johnson & Johnson, and other industry leaders. Inside the Box shows how corporations have successfully used SIT in business settings as diverse as medicine, technology, new product development, and food packaging. Dozens of books discuss how to make creative thinking part of a corporate culture, but none takes the innovative and unconventional approach of Inside the Box. With “inside the box” thinking, companies of any size can become sufficiently creative to solve problems even before they develop and to innovate on an ongoing basis. It’s a system that works! “Boyd and Goldenberg explain the basic building blocks for creativity and by doing so help all of us better express our potential” (Dan Ariely, author of Predictably Irrational).

Strategy for Competition

Author: Hermann Simon

Publisher: Leads Press

ISBN: 9788131903919

Category: Business & Economics

Page: 274

View: 6122

This is a book which has contributions from entrepreneurs, managers, professors, management gurus and consultants from all over the world. The readers can derive benefit from the book which spread light on a multitude of aspects that deals with building and applying winning strategies for business. The individual articles are very succinct and effective knowledge can be acquired or the existing knowledge can be refreshed. Its for those who plan the strategy to reach their goals. The book addresses to top managers and executives and researcher workers who are interested in practical strategy will also find wealth of information in this book.

Value First then Price

Quantifying value in Business to Business markets from the perspective of both buyers and sellers

Author: Andreas Hinterhuber,Todd C. Snelgrove

Publisher: Taylor & Francis

ISBN: 1317326180

Category: Business & Economics

Page: 224

View: 343

Winner of the Overall Case Award 2014 The Case Centre best selling case 2013 - 2017 Value-based pricing—pricing a product according to its value to the customer rather than its cost—is the most effective and profitable pricing strategy. Buyers need to evaluate the monetary benefits of a product against the price of its competitors. Sellers justify their price points through documenting the value of a product, emphasising its superiority against competitors and therefore justifying the premium price. Value First then Price is an innovative collection which proposes a quantitative methodology to value pricing, and road-tests this methodology through a wide variety of real-life industrial cases. It provides a state-of-the art and best practice overview of how leading companies quantify and document value to customers. In doing so, this book provides researchers with a method by which to draw invaluable data-driven conclusions, and sales and marketing managers the theories and best practices they need to quantify the value of their products to demanding, hard-nosed industrial purchasers. With contributions from global industry experts this book provides cutting edge research on value quantification and value quantification capabilities with real-life, practical examples. It will be essential reading for sales and pricing specialists as well as business strategists, in both research and practice.

Pricing and Revenue Optimization

Author: Robert Phillips

Publisher: Stanford University Press

ISBN: 0804781648

Category: Business & Economics

Page: 368

View: 5348

This is the first comprehensive introduction to the concepts, theories, and applications of pricing and revenue optimization. From the initial success of "yield management" in the commercial airline industry down to more recent successes of markdown management and dynamic pricing, the application of mathematical analysis to optimize pricing has become increasingly important across many different industries. But, since pricing and revenue optimization has involved the use of sophisticated mathematical techniques, the topic has remained largely inaccessible to students and the typical manager. With methods proven in the MBA courses taught by the author at Columbia and Stanford Business Schools, this book presents the basic concepts of pricing and revenue optimization in a form accessible to MBA students, MS students, and advanced undergraduates. In addition, managers will find the practical approach to the issue of pricing and revenue optimization invaluable. Solutions to the end-of-chapter exercises are available to instructors who are using this book in their courses. For access to the solutions manual, please contact [email protected]

Insight in Innovation

Managing Innovation by Understanding the Laws of Innovation

Author: Jan Verloop,J. G. Wissema

Publisher: Elsevier

ISBN: 9780444516831

Category: Business & Economics

Page: 150

View: 8670

1. The innovation process. -- -- 2. The innovation spectrum. -- -- 3. Managing innovation. -- -- 4. Innovation and entrepreneurship. -- -- 5. The value of innovation. -- -- 6. Sustainable innovation. -- -- 7. Innovation and the CEOThe innovation process -- The innovation spectrum -- Managing innovation -- Innovation and entrepreneurship -- The value of innovation -- Sustainable innovation -- Innovation and the CEO.

My Years With General Motors

Author: Alfred P Sloan

Publisher: eNet Press

ISBN: 1618863991

Category:

Page: 669

View: 9644

Alfred P. Sloan, Jr. led the General Motors Corporation to international business success by virtue of his brilliant managerial practices and his insights into the new consumer economy he and General Motors helped to produce. Sloan's business biography, My Years With General Motors, was an instant best seller when it was first published in 1964 and is still considered indispensable reading by modern business giants.

Monetizing Your Data

A Guide to Turning Data into Profit-Driving Strategies and Solutions

Author: Andrew Roman Wells,Kathy Williams Chiang

Publisher: John Wiley & Sons

ISBN: 1119356253

Category: Business & Economics

Page: 368

View: 3641

Transforming data into revenue generating strategies and actions Organizations are swamped with data—collected from web traffic, point of sale systems, enterprise resource planning systems, and more, but what to do with it? Monetizing your Data provides a framework and path for business managers to convert ever-increasing volumes of data into revenue generating actions through three disciplines: decision architecture, data science, and guided analytics. There are large gaps between understanding a business problem and knowing which data is relevant to the problem and how to leverage that data to drive significant financial performance. Using a proven methodology developed in the field through delivering meaningful solutions to Fortune 500 companies, this book gives you the analytical tools, methods, and techniques to transform data you already have into information into insights that drive winning decisions. Beginning with an explanation of the analytical cycle, this book guides you through the process of developing value generating strategies that can translate into big returns. The companion website, www.monetizingyourdata.com, provides templates, checklists, and examples to help you apply the methodology in your environment, and the expert author team provides authoritative guidance every step of the way. This book shows you how to use your data to: Monetize your data to drive revenue and cut costs Connect your data to decisions that drive action and deliver value Develop analytic tools to guide managers up and down the ladder to better decisions Turning data into action is key; data can be a valuable competitive advantage, but only if you understand how to organize it, structure it, and uncover the actionable information hidden within it through decision architecture and guided analytics. From multinational corporations to single-owner small businesses, companies of every size and structure stand to benefit from these tools, methods, and techniques; Monetizing your Data walks you through the translation and transformation to help you leverage your data into value creating strategies.

Selling High Value Software

Author: John Coburn

Publisher: Lulu.com

ISBN: 1411650891

Category: Business & Economics

Page: 216

View: 9126

Based on twenty plus years of selling enterprise software solutions, "Selling High Value Software" is about winning deals at the highest attainable value. It covers first-hand tips and techniques that you can use to boost value recognition and sustain it through the most demanding sales cycle. These are ideas and suggestions that will help you through the sales negotiations, due diligence processes and commercial situations that are typical of high value software contracts. Aimed at small and medium sized software companies who develop original intellectual content, the book is a street-fighter's guide to value creation and is beautifully paced throughout it's high-octane 200+ pages.

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