Monetizing Innovation

Posted: 05/02/16

Simon Kutcher & Partners (SKP) is a global management consulting firm. Bloomberg Business Week called it “the world leader in giving advice to companies on how to price their products.” As a frightening percentage of excellent new products and services either fail to gain traction in the market, or produce an inadequate return on investment, companies can use that advice. SKP believes that good innovations fail when companies leave the pricing discussion to the end of the development process, and advises that innovation should begin with solid research on what prospective customers want, and their willingness to pay for the value they (not the company) perceive is being offered.

In the summer of 2015, SKP board member and partner Madhavan Ramanujam, and co-CEO Georg Tacke, engaged the Bloom Group to help them conceptualize, outline, and write a book about how companies can improve the chances that their new products or services will succeed by determining a price for their products – and finding out if customers are willing to pay it – before pouring time and money into R&D, manufacturing, marketing, and sales. Monetizing Innovation: How Smart Companies Design the Product Around the Price was published by Wiley in May 2016, and is rated 5 stars out of a possible 5 on Amazon.