The business world is changing and the speed of that change is accelerating. Recent developments and innovations in digital technologies and new business models have led pricing teams to innovate their pricing models in kind. Many business-to-consumer (B2C) companies have made the transition to subscription-based pricing or pay-per-use pricing models (media, music, news, etc.). This trend is now entering the business-to-business (B2B) world with traditional business models moving to services and digital solutions requiring subscription-based or usage-based pricing. This presentation introduces four forms of pricing models for products, services, and digital innovations. It focuses on the design of innovation and hybrid pricing models, how to transition from legacy to new pricing models, and how to package them. Finally, the session addresses the need to apply value-based pricing versus cost-based pricing during the transition process between pricing models, as well as best practice for applying value-based pricing to new and innovative pricing models.
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