With more companies moving toward commercializing their digital innovation, deciding how to best price new, sophisticated technology is one of the most complex marketing hurdles to tackle. As a ground rule, it’s important to start this process and discussion around product value early on, even before entering the market. While it can be tempting to apply simple cost-based pricing to a new product, companies must focus on developing a value-based pricing strategy that accurately reflects its true economic worth. Our client in the MedTech sector was a medical device start-up that recently received de novo clearance from the FDA to launch a wearable medical device that would be sold directly to patients and caregivers. The client wanted to determine the ideal prices for the pr

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