Monetizing Innovation MP3 CD – Unabridged, December 27, 2016

This reminded me of Crossing the Chasm, Predictable Revenue, SPIN Selling, Gap Selling, Cracking the Sales Management Code or Challenger Sale. It’s that useful. If you want brilliance in the basics, you gotta actually know the basics. Here you go. If you’re selling for startups, it’s recommended. If you’re in revenue operations or sales leadership; it’s required reading. Unless you want to blunder around in the dark and hope to win. Turn on the lights with this book.

Research and development (known colloquially as R&D) is an inevitability of capitalist markets. New innovations usually outpace yesterday’s technologies. However, many R&D products fail to transition from development to the marketplace. In this work, Ramanujam and Tacke suggest that many of the failures can be avoided by proper management of pricing prior to the start of the project. In truth, this work is an in-depth look at how to set the price of an innovation.The authors set up several common pitfalls in deploying research as well as specific principles that lead to success. They ground their work in success stories of several companies across a variety of industries. They detail these use cases in the second half of this work. Each chapter also provides accessible summaries along with several “CEO Questions” to address C-suite accountability.The central insight the authors seek to posit is to put pricing early in the development process. This requires some market research (especially customer feedback) and the involvement of distribution teams (like marketing and sales). Early pricing also requires teams to prioritize customer-driven requests – development from the “outside-in” instead of from the “inside-out.” Finally, this practice requires a bit of courage to say “no” to bad ideas.The authors unfortunately do not address non-profit centers of innovation like research universities. They face many of the same problems to implement innovations, but have less infrastructure to derive revenue and profit. What’s more, their innovations are often more grounded in basic science than current practice. This makes pricing, in terms of both structure and a dollar figure, even more difficult due to a lack of information about potential markets. By examining this common use case, the authors could have made their theory more general while addressing a significant new audience.For these reasons, the authors limit their potential audience to those within the business community, especially managers of research, researchers, and the C-suite. The size and age of the company does not matter: Large companies and lean innovators can both benefit, as can established companies and start ups. More generally, this book is for anyone dealing with pricing from R&D. Sustaining revenue and profit in tomorrow’s conditions requires thoughtful and deliberate work. This work will shine the light on the steps required to succeed.

Having been through this process in real life, I appreciate how this book takes what can be a daunting process and breaks it down in a very pragmatic way.

I work in the land of "Feature Shock"....San Francisco. Everybody walks around thinking that the customer has no idea what they want and what they will pay for. They talk about Henry Ford and "building faster horses". Henry would've only built faster horses if he didn't do a good job of asking "why" they wanted faster horses.My background is in psychology, sales, and marketing so I find the idea of behavioral pricing fascinating. Imagine being able to find out out you can charge 10% more with only a 5% drop in demand. Big win, and it didn't cost you anything other than getting to know you're customer better.I loved the book because it is practical, and is guided by creating value for customers, and increasing your chances of succeeding and creating economic profits.Good book for Product Marketers, Growth, PM and CEO

Great real world examples. It was helpful to see the wide variety of approaches used by other companies.

This book caught my attention after reading a long-form post on product pricing by the author Madhavan Ramanujam on LinkedIn. Madhavan turns the concept of product pricing and customer segmentation as we know it, upside down and produces engaging content that is insightful and practical to implement.The ideas in the book continued to stay with me no matter how busy I was with my business activities as it really forces the reader to think through the application of the ideas in your particular context.This is a must read book for anyone looking to succeed in the digital age with their products and services. Now more than ever there is a clear need to differentiate your offerings in the crowded market, Madhavan shows that pricing alone executed well could become one of your key competitive differentiator.

I lead the Product team for a small SaaS company that’s been around for nearly two decades. We’re the market-share leader in a niche industry, however, we have an outdated business/pricing model. Monetizing Innovation has really highlighted some gaps and opportunities to grow revenue/profit. I’m hoping this book will be the spark that ignites our transition to become a more profit-driven product organization. Read it or listen to it. You’ll be glad you did. I’ve been listening to it on my ride to work in the morning and it’s been the perfect mix of insights and inspiration.

Genuinely insightful and applicable. Goes beyond generalized aphorisms. Effectively illustrates the integrated nature of customer, product/service, price, and value.Ok. I need to update this review. 8 Stars is more appropriate. In my 35-year career, only 2, or perhaps 3 other serious writings have created such a profound challenge to my mindset and mental processes.A long parade of business writings that are nothing more than gross exercises in egotistical chest thumping has made me deeply skeptical of the entire genre. This book is so marked up with page flags and highlights that I am ready to study it again. Now.

Really insightful book with a radical approach to pricing new products. Highly recommended for anyone in business, not just those thinking about developing new products.

One of the biggest regrets I have regarding buying books is this one. I can't understand why there are so many people praising it. There are so many counterexamples for nearly every advice the author gives. I hate to sound so rude but I can't find anything good to say.

Reading this book has advanced my learning as a product manager by a couple of notches. Customer obsession is a given with most companies these days. But this book nicely lays out a framework that underpins working around the value that customers will seek from whatever you are building, a product, a service or any business for that matter. It is crucial to incorporate this framework right from the initial stages, rather than leave it as a pricing exercise for the later stages and the authors provide lots of examples from the recent past to illustrate this.

Un libro che mi è piaciuto veramente molto. Affronta il tema dell'innovazione da una prospettiva nuova, quella della capacità di monetizzarla correttamente. Si parla di prezzo ma si approfondisce molto altro riguardo il valore di un prodotto per il cliente e le strategie per catturarlo. Lo consiglio a chiunque dirige una azienda o governa lo sviluppo di nuovi prodotti.

This book helps to everyone who wants sell a producto or service. Begining from the end to the start. Put a price, and look if you can sell, otherwise, iterate again, maybe this time not need to build the product or yes.