504: Market Research for Product Innovation – with Chip Chomyn
Global Product Management Talk
00:00
Navigating Product Pricing Strategies
This chapter delves into the intricacies of product pricing strategies, emphasizing the gap between cost and pricing decisions through the example of a mechanical pencil. It highlights the necessity of understanding customer segments and their willingness to pay for differentiated product value while exploring established pricing methodologies. Additionally, the discussion reinforces the importance of recognizing the emotional 'why' behind products and how this impacts consumer behavior and market research.
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