Invest Like the Best with Patrick O'Shaughnessy cover image

Invest Like the Best with Patrick O'Shaughnessy

Madhavan Ramanujam - How to Price Products - [Invest Like the Best, EP.298]

Oct 11, 2022
0
56:30

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Quick takeaways

  • Integrating pricing discussions early in the product development process helps companies avoid building products with no market demand or pricing challenges later on.
  • Customer willingness to pay should be assessed through specific questions that put them in a relative pricing mindset, allowing companies to determine appropriate pricing strategies based on perceived value compared to similar products.

Deep dives

Importance of considering pricing early

The podcast episode emphasizes the importance of considering pricing early in the product development process. Many companies focus on creating innovative products but neglect the monetization aspect. By integrating pricing discussions from the beginning, companies can ensure that they design products that align with customer needs and offer value that customers are willing to pay for. This approach helps companies avoid building products that have no market demand or encounter pricing challenges later on.

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