A survey of emerging technologies for pricing new‐to‐the‐world products

New‐to‐the‐world products are innovations that represent leapfrogging advancements in product design, which often result in significant gains in consumer utility. Such new products are critical not only because of their ability to become a means for market share gain and revenue growth, but also because they often change the competitive landscape of the markets they are launched in. A fundamental concern in developing new‐to‐the‐world products is the appropriate pricing of these products. In this paper, we will first review the traditional methods used in determining the prices of new‐to‐the‐world products. We will then profile emerging technologies that have found extensive use in recent years and are helping accelerate the pricing process of new‐to‐the‐world products. The paper will conclude with a discussion of the implications of these emerging technologies on the practice of pricing.