What you do about design thinking

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Read the two documents about pricing strategies attached to this DB and can also be located under Assignment Instructions, Rubrics and Documents module on Canvas.

The value proposition identifies the "value" a product provides the customer. This is an essential factor in pricing because the accurate measure of a product's value identifies its price ceiling. Market research can help identify value through the use of open-ended feedback, including how much customers are willing to pay.

The answers to pricing questions cannot wait until the product development cycle is complete. Knowing what you do about design thinking, at what point in the design process should marketing start the pricing conversation with the customer, and why?

Reference no: EM133799381

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