TECHNOLOGY-PRICE

REALTIONSHIP and BRINGING

INNOVATION TO THE MARKET

Reporter:
TECHNOLOGY-PRICE
REALTIONSHIP
TECHNOLOGY-PRICE REALTIONSHIP

What is Technology-Price Relationship?

TECHNOLOGY-PRICE REALTIONSHIP
Price

Technology gap , price  ;

Technology gap , price 

Technology Gap between owner and customer

TECHNOLOGY-PRICE REALTIONSHIP

Owner knowledge
Technological Knowledge

Customer can
improve on the
initial technology.
Gap

Customer knowledge

Time or Diffusion
 TECHNOLOGY-PRICE REALTIONSHIP
Value Navigator
A five-step process for estimating value and pricing innovations
1. Carve out a Sample
 the success of innovations usually depends on the first 3-5% of
adopters
2. Prototyping and Clear Education
 provides the customer with an in-depth understanding of the product
3. Determine Value Gaps
 price of innovative products should reflect how much people value the
problem you have solved
4. Measure the Delivered Value
 When clients make a buying decision, they purchase three things: size,
speed, certainty
5. Working with a Pricing Model
 pricing strategies are not stagnant one-time processes
BRINGING INNOVATION
TO THE MARKET
BRINGING INNOVATION TO THE MARKET

Stages of the Innovation

Cycle’s Sequence of
Events
 BRINGING INNOVATION TO THE MARKET

• There are time lags between the different

stages of the innovation cycle’s sequence of
events—science, invention, innovation, and
market
• The sooner an innovation reaches the
marketplace, the sooner a company can reap
its rewards
• Exclusivity of technology provides higher
marginal returns
REFERENCES:
A. Technology-price relationship
Khalil, T, (2000). Management of Technology: The Key to
Competitiveness and Wealth Creation. McGraw-Hill Education
(India) Pvt Limited

https://www.pricingsolutions.com/pricing-blog/pricing-model-for-new-products/

B. Bringing Innovation to Market

Khalil, T, (2000). Management of Technology: The Key to
Competitiveness and Wealth Creation. McGraw-Hill Education
(India) Pvt Limited