This podcast episode delves into the critical role of understanding willingness to pay (WTP) in product development, emphasizing that effective prioritization of product roadmaps hinges on insightful WTP conversations. Madhavan illustrates this with compelling examples and outlines practical methods for engaging customers in WTP discussions. He advocates for segmentation based on genuine customer needs and highlights various pricing strategies and models to optimize market fit. By focusing on benefits over features and incorporating behavioral pricing insights, Madhavan equips founders and product managers with strategies to navigate pricing in a slowing economy and ultimately unlock growth through his upcoming book.
