Pricing
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Leveraging Choice Architecture: A Roadmap for Product Success
We live in a world inundated with choices—from the products we buy to the services we subscribe to, the apps we download, and even the content we consume. As product managers, our primary objective is to guide our users toward making choices that align with their needs and desires while simultaneously driving the success of Continue reading
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The Veblen Effect: Mastering Pricing Psychology for Luxury Goods
The Veblen effect is an economic concept that explains counterintuitive consumer behaviors – why sometimes demand for a product increases as its price rises. Named after economist Thorstein Veblen, the effect states that the perceived value, desirability, and prestige of luxury goods increases if they have a higher price tag. For certain high-end, status products, Continue reading
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Optimizing Subscription Pricing: A Product Manager’s Guide to Maximizing Recurring Revenue
With the emergence of SaaS, we’ve all seen how subscription-based models have revolutionized the way businesses operate and generate revenue. In this post, I’ll attempt to share my insights on Optimizing Subscription Pricing, hopefully helping you analyze pricing models and tactics to maximize your recurring revenue streams. In my years of experience managing products, I’ve Continue reading
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How to Craft a High-Impact Pricing Strategy
Pricing is one of the most complex and impactful business decisions a product or service company has to make. Getting your pricing strategy right can spell the difference between a startup that struggles to stay afloat, and one that is able to scale rapidly. However, many entrepreneurs and product managers often rely more on guesswork Continue reading
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The Price Corridor of the Mass: Navigating Value Innovation in Product Management
I’ve always been fascinated by the delicate balance between creating value for customers and capturing value for the business. It’s a tightrope walk that requires a keen understanding of market dynamics, customer needs, and competitive landscapes. Today, I want to explore a concept that has positively impacted my approach to pricing strategy: the Price Corridor Continue reading
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The 5 P’s of Product Management: A Comprehensive Guide
Over the years I’ve come to realize that success as a Product Manager boils down to mastering what I call “The 5 P’s of Product Management.” These five essential elements – Purpose, People, Process, Product, and Performance – form the backbone of effective product management. In this comprehensive guide, I’ll walk you through each of Continue reading
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5 Strategies For Creating Products Your Customers Love
Creating products your customers love is the holy grail. It’s what separates good products from great ones, and it’s what keeps customers coming back time and time again. But how exactly do you achieve this level of customer adoration? In this comprehensive strategy guide, we’ll explore five proven strategies to ensure your customers fall head Continue reading
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Quantifying Product Value
Quantifying product value and return on investment (ROI) is critical yet challenging for product managers. It’s easy to make vague claims about how a product will create value, but substantiating those claims with hard data is much more difficult. However, quantifying value is essential for several reasons: securing investment and resources for development, demonstrating market Continue reading
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The Complete Guide to Pricing Strategies for Product Managers
Finding the optimal price for a new product can be a major challenge for product managers. Pricing too high could turn off potential customers, while pricing too low leaves money on the table and is unsustainable. To strike the right balance, product managers need to leverage pricing strategies that align with their business goals, target Continue reading
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