About the Device Our client, an established manufacturer of syringes, had developed a prototype digital injection device designed for use in clinical trials. This data-enabled injection device would automatically capture injection data without interfering with the injection device's usability. Specifically, the device would capture the start/stop time, completion and device ID. The target customers [...]
While IoT technology is generating huge business opportunities, it is also creating a significant challenge – how can businesses effectively monetize Internet-of-Things products and not leave money on the table?
As companies move closer and closer to commercializing their digital innovation offer, they run the risk of undervaluing the technology. To mitigate the risk, it’s important to develop a value-based pricing strategy that maximizes the adoption rate.
You have developed a new innovative product or service that promise to add significant value to your customers. But do you know how to price this new offering? Most importantly, how do you know you’re setting the optimum price to maximize customer adoption and drive the most value to your firm’s bottom line?
