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Innovation has become a priority for the survival of business in the 21st century. Firms are pouring billions on innovation investments every year with the goal of creating differentiation and competitive advantage. Most of the time, however, they forget one critical elements in the innovation management process: the clear definition and measurement of customer value and the value capture through proper pricing strategy.
This online course is designed to review the position of the value and pricing management dimensions within the innovation process. The course covers five dimensions of this process: pricing orientation and price decisions are taken; measurement of economic value; pricing and value management in the Stage Gate process; pricing and value management in the Introduction Phase of product lifecycle; and, pricing of breakthrough innovations. This course intends to show that pricing and value management have a key role to play in the strategic innovation process in order to allow firms to capture the return for their investments. Pricing, value and innovation are elements of a dynamic and integrated systems that cannot be managed in parts.
The place of pricing in the overall innovation process.
How to integrate and manage pricing and value management in the Stage Gate process
How to manage pricing in the Introduction Phase of the Product/Service Lifecyle
How to apply the basics of Economic Value Estimation (EVE®) for new products
Duration: 127 minutes
Stephan M. Liozu is a creator, a disruptor, a designer, and an innovator. With over 20 years of experience in business, he has recently focused on design and creativity in value and pricing strategies. Stephan has worked for both Fortune 500 companies and family-owned businesses. He holds a Master’s degree in Innovation Management and is currently pursuing a Ph.D. in Management (exp. 2013) from Case Western Reserve University.
Over the past few years, Stephan published academic articles in the Journal of Revenue & Pricing Management, Journal of Business Strategy, MIT Sloan Management Review, Industrial Marketing Management, as well as in the Journal of Strategic Marketing. He has also written several articles on strategic pricing issues for the Journal of Professional Pricing and is a regular presenter at Professional Pricing Society conferences in Europe and North America, as well as the Strategic Account Management Association conferences.
He co-authored Innovation in Pricing – Contemporary Theories and Best Practices (with Dr. Andreas Hinterhuber) that was published in the fall of 2012. Stephan sits on the Advisory Board of LeveragePoint Innovation and of the Professional Pricing Society.