Diving into an intriguing old McKinsey report on pricing ownership within organizations
https://assets.kpmg.com/content/dam/kpmg/pdf/2016/06/unlocking-the-potential-of-pricing.pdf
I couldn’t help but raise an eyebrow at some “notable missing” pieces in the puzzle đŻ . Back in 2016, the spotlight didn’t even touch the product realm! The debate was mainly between Marketing or Sales. That’s all!
How have things changed since? Shall (and can) Product and Product Managers still neglect pricing and monetization in 2023?
I really don’t believe so. Hopefully what is described in this 7yr old report is not today’s reality anymore.
I hear many product managers and product owners complaining about living in feature factories or being seen as “delivery arms”. Pricing is both a strategic element and a key feature of your product.
đ˘ As a PM, if you don’t care about pricing, monetization, and revenue, you’re condemned to live in the realm of “feature delivery”.
So, who holds the reins when it comes to pricing strategies in your organization? Marketing? Sales? Product? …
#PricingStrategy#pricing#productmanagement#monetization
This post originally appeared on Linkedin at https://www.linkedin.com/posts/salvatorebocchetti_unlocking-the-potential-of-pricing-activity-7095047892217782272-doUI
My name is Salva, I am a Product executive, helping tech companies discover, shape, and sell better Products. My work and writing are mainly about subscription models, product pricing, e-commerce/marketplaces, and creating top product organizations.
My superpower is to move between ambiguity (as in creativity, innovation, opportunity, and âthinking out of the boxâ) and structure (as in âgetting things doneâ and getting real impact).
I am firmly convinced that you can help others only if you have lived the same challenges: I have been lucky enough to practice product leadership in companies of different sizes and with different product maturity. Doing product right is hard: I felt the pain myself and developed my own methods to get to efficient product teams that produce meaningful work.