The purpose of this paper is to briefly present the two commonly-used business model canvases and to introduce the Pricing Model Innovation Canvas that can be used by pricing, innovation, and marketing teams to better frame their pricing model(s) and to make better pricing decisions.
In this article, the authors examine a recently introduced and highly innovative healthcare product and address significant questions about its pricing potential. Although this article is specific to current events in the healthcare industry, it provides valuable insight for pricers who are pricing innovations or new products in multiple market sectors.
Pricing innovation can be a highly complex decision and one of the more challenging tasks marketers face. This is especially true in the MedTech industry, as the author explains. Although focusing on the MedTech industry, this article provides pricing advice that can be valuable to pricers in multiple markets.