To innovative and ambitious teams, the quest for competitiveness paves the way for success. Really?
The quest starts at the very beginning, when the first business plan is drawn up, by making sure that price assumptions are based on robust research.
Setting the target selling price is an even trickier stage, as the project team is faced with numerous uncertainties, both in terms of product design, production and marketing.
The temptation is great to postpone the topic, or to hand it over to sales and marketing colleagues… once the product design has been frozen.
This is all the more a pity that market prices are available data, which simply need to be collected, and that the target sales price of the innovation can become the keystone of future strategic decisions.
Setting a target selling price based on market realities, and striving to get closer to it, is a great discipline. By setting the bar at the level of what is needed to succeed, you encourage the teams to find solutions, and the different functions to converge on a common target.
There are four conditions for success.
Which ones ?
To find out more, read the full PDF article!
Geoffroy de Grandmaison
GdeG Consulting