Pricing strategies have a house structure. Value-Based Pricing, Competitive Pricing, and Cost-Plus Pricing compose the roof. Strategies are based on three pillars: Game Theory, Supply & Demand, and Prospect Theory. These pillars are supported by three foundational blocks: Strategy, Economics, and Psychology.
One of the hardest strategic decisions innovative companies face is to identify when an R&D innovation is ready for commercialization. R&D is a laboratory of experimentation. It produces new prototypes,… Read More »When is an R&D innovation ready for commercialization? A practical checklist
Customer requests are like distant sounds. Some are true signals, others are noise.
The challenge is not whether to listen, but how to distinguish one from the other. Product strategy requires amplifying the right signals while filtering out distractions that pull focus and resources off course.
While innovation is on everyone’s lips, for product companies it is not the only way to grow. In reality, many successful businesses win by adopting proven ideas and focusing on… Read More »Innovation or imitation, which product strategy to choose?
In the last post we looked into the question of how to estimate the time needed for a product to reach the market. Yet another relevant question that product leaders… Read More »How early is enough? Balancing commitment and learning in product definition timing
A crucial, yet risky, phase in creating a new product is product discovery. It is the initial process of researching and validating customer needs and market opportunities to decide what… Read More »6 heuristics to simplify decisions in product discovery
The amount of data generated by people and machines increases exponentially every year. Cloud computing power to process data is more affordable and accessible than ever. As a result, machine… Read More »Product management for machine learning: 9 steps to go to market
There is no doubt that choosing among different options is time consuming and requires effort. Whether it is about managing our finances, buying complex products, making a donation, or just… Read More »The power of default options in product user experience
If you are a business leader increasingly overwhelmed with product-related decisions and activities, you might be wondering if it is the right time to get a product manager. This post explains the main reasons to hire a product manager, so that you can give yourself a head start with your decision.