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Monetizing Innovation
How Smart Companies Design Product Around Price
Author Name: Madhavan Ramanujam and George Tuck
For businesses to survive, they must innovate. What's striking, however, is that the failure rate of innovation is shockingly high. Three out of four products (or services) fail to meet expected revenue or profit targets, or even fail completely (exit the market). Thus, companies embark on the long journey of product development hoping their innovations will make money, but they don't know if they will. But things don't have to be this way.
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