Tesco
It’s Price Before Product. Period.
Video

It’s Price Before Product. Period.

Madhavan Ramanujam
First Round Review, 2016
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Editorial Rating

7

Qualities

  • Applicable
  • Concrete Examples
  • Insider's Take

Recommendation

You can’t compete on price through innovation without first figuring out the value you offer and determining a price point. And you can’t do that without asking your customers how much they are willing to pay. Pricing consultant Madhavan Ramanujam illustrates valuable approaches to determining your product’s fair market value. Although his talk is quite circumlocutory, viewers will garner valuable tips on how to price their products optimally.

Take-Aways

  • The vast majority of companies face price pressure and plan to innovate their way forward, yet 72% of all innovations fail to meet projected revenue goals.
  • Successful companies determine the price of their offerings before developing their products.
  • Ask your customers how much they are willing to pay for your product early on in the development process.

About the Speaker

Pricing consultant Madhavan Ramanujam is a board member and partner at Simon-Kucher & Partners.

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