Lenny's Podcast: Product | Growth | Career cover image

Lenny's Podcast: Product | Growth | Career

The art and science of pricing | Madhavan Ramanujam (Monetizing Innovation, Simon-Kucher)

Dec 8, 2022
01:38:32

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Quick takeaways

  • Understanding customer segmentation is crucial for pricing strategy and involves tailoring products and packaging for each segment.
  • Effective segmentation requires companies to act differently towards each segment, developing unique product marketing messages and sales strategies.

Deep dives

The Importance of Segmentation in Pricing

Segmentation is a crucial aspect of pricing strategy. It involves understanding the needs, values, and willingness to pay of different customer segments. Instead of trying to position one product to multiple segments, companies should focus on productizing and packaging their offerings differently for each segment. This allows for targeted marketing, tailored value messaging, and the ability to act differently towards each segment. By understanding and catering to customer segments, companies can maximize their chances of success and effectively meet the diverse needs of their customers.

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