What is the Market Willing to Pay for New Product Launches with Dave Daniels

Dave Daniels is a technology veteran with a passion for product marketing and product management.   He is a founder of Launch Clinic, which was acquired by Pragmatic Institute (formerly Pragmatic Marketing). He is also a Pragmatic Institute certified instructor, strategist, problem solver, mentor, speaker, entrepreneur, and traveler.  In this episode, Dave talks about a product launch framework that incorporates crucial components such as customers, segments, competitors, and positioning necessary to build a pricing roadmap that targets your company’s objective.   Why you have to check out today’s podcast: Discover about a product launch framework which drives a pricing structure towards achieving a company-wide goal  Learn about straightforward strategies of raising your prices to meet your business objectives   Find out how to increase your price better by using a price launch framework   “Always assume that your customers are willing to pay a higher price than you think that they do. Because you often look through your own lens of what you would be willing to pay, not what the market would be willing to pay. You can always go down, it’s hard to go up.“   – Dave Daniels   Increase Your Pricing Knowledge: Become a Champions of Value INSIDER! To sign up go to insider.championsofvalue.com   Topics Covered: 01:34 – How did Dave get involved with Pricing  03:23 – Talking about his aha moment in Pricing – the notion of ‘which one’ or ‘will I’  05:03 – How does a product launch framework look like  06:39 – The fact about not many companies consider about Pricing in the planning stage  08:09 – What happens when the product launch plan is not well-thought-out and well-developed  09:31 – The difference between a launch and a release  11:11 – How should we go about as we launch prices  12:19 – The scary thing about increasing your prices  13:42 – What are the two phases of the product launch framework  15:29 – Doing a price increase better by using Dave’s price launch framework   16:43 – Components of the price launch framework that you need to look into  19:05 – On being straightforward in raising your price  20:53 – What’s the best thing about having a pricing framework  22:38 – Dave’s thoughts on pricing roadmaps    Key Takeaways: “It’s not how much it cost us to build it and then price it. It was like how much do people willing to pay?” – Dave Daniels  “It always came up as a big issue around launch a lot, mostly because in the launch planning process, it starts and everybody starts thinking about all the tactics, the promotional stuff. And then they forget about these important little business details like how are we going to price the product, what’s our pricing strategy, how are we going to price in this market versus that market?” – Dave Daniels  “At any time prices are increased, somebody somewhere is going to be upset, their feathers are going to be ruffled. That’s to be expected, and you should put that into your calculus, that it is possible.” – Dave Daniels  “Frameworks provide structure and direction. And they’re designed to integrate with other frameworks.” – Dave Daniels  “Don’t be afraid to charge a higher price because you’ll be surprised at how many people will actually pay for it.” – Dave Daniels   People / Resources Mentioned:  Tesla S  Hyundai   Kia  Zipcar  Netflix    Connect with Dave Daniels: LinkedIn  BrainKraft.com  Facebook    Connect with Mark Stiving:    Email: [email protected] LinkedIn