New Product / Service Launch
SPMG’s Value-based pricing methodology is used to estimate the market value of a new product or service at various stages of the development process in addition to repricing existing products already in the marketplace.
How to price a new product or service is often a top-management puzzle that is too often solved by cost theology or ‘gut-feel.’ Companies face the challenge of setting prices for the very first time often with limited visibility, reference or knowledge of how the customer benefits from the product or service.
Rather than the traditional cost-plus or reference-based approach to pricing, we work with our clients, often through market research, to confirm and validate how our clients’ products and services add value to their customers’ lives and businesses.
There are logical steps in our customized pricing approach towards launching new products and services. Each module as sequenced and outlined in the following SPMG Pricing Methodology is critical towards refining or developing a new price.