About This Workshop
New product pricing is still a conundrum for most executives in B2B and B2C industries: pricing too low and pricing too high both lead to financial disaster. Furthermore, with abysmal success rates of new product introductions, how can the odds of successfully launching new products be significantly improved?
This workshop will enable you to gain a solid understanding of the requirements for successful new product pricing. We will first review alternative paths to innovation and then present a toolbox enabling you to devise new products which meet customers’ unmet needs. We will also review how the application of this toolbox has helped companies in B2B as well as B2C industries to successfully implement breakthrough innovation strategies.
In group exercises participants have the chance to network with their colleagues and gain experience in applying the tools and concepts.
Key Topics Include:
Innovating for success and designing breakthroughs
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Traditional approaches to designing innovation strategies
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Identifying unmet needs to devise breakthrough innovations
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Needs-based market segmentation
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Case study: unmet needs and breakthrough innovation in B2B
Strategic pricing of new products
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Basic and advanced approaches to new product pricing
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Customer value and price elasticity
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Case studies: new product pricing in the FMCG, automotive, chemical, and IT industries
Implementing robust pricing processes
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Pricing processes today: typical weaknesses
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A framework for a strategic pricing process
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Case study: leading and less good pricing processes in B2B and B2C
Avoiding the discounting trap
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Discounting systems: the good, the bad, and the ugly
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Designing and implementing intelligent discounting systems
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Aligning the sales force
Brainstorming session and workshop summary
Presenter:
Andreas Hinterhuber
Andreas Hinterhuber is a Partner of HINTERHUBER & PARTNERS, a consultancy specialized in strategy, pricing, and leadership
Dr. Hinterhuber is also a visiting professor at Bocconi University (Milan, Italy) and at Tsinghua University (Beijing, China). Previously he was a Marketing Executive with Bayer AG where he was responsible for the Group’s largest product group with worldwide responsibilities. He has worked in the US, Japan, China, and Germany. He is consulting with leading companies in Europe, China, and the US.