Monetizing Innovation
How Smart Companies Design the Product Around the Price
Summary:
The book explores the concept of designing products with pricing in mind from the outset, arguing that companies should determine what customers are willing to pay before developing a product. It provides a framework for innovation that integrates market demand and pricing strategies, using case studies and practical tools to guide businesses in creating profitable products.
Key points:
1. Avoid Product Pitfalls: - Feature Shock: Too many unnecessary features. - Minivation: Too few features, missing customer needs. - Hidden Gem: Underpriced valuable product.
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