Mobile Product Marketing Question: Download Questions PDF
How would you determine the price for piece of wearable technology?
Answer:
For a pricing question, Lin suggests triangulating between the customer's willingness to pay, competitive pricing, and cost-based pricing. Understanding the cost structure is a good basis, but won't get you all the way to the answer. Consider what alternatives the customer has and what type of demand and supply dynamics there are in the market. If you are targeting a heavily business-oriented product management role, you will need to have pricing frameworks in you back pocket so that you are not a deer in the headlights at the whiteboard.
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