”Value-focused” innovation and monetization process not only helps you develop the products that people will actually buy but also align your product, offer, pricing, and cost structures with the true dynamics of your buyers, users, and market.
ne of the key benefits of value-focused innovations is that it helps to prevent solutions from being over-engineered. If the amount of features and attributes that you have built into your solution is greater than that of your buyers' reference sets but their willingness-to-pay isn't then you'll never be able to capture the fair amount of the value. That's why it's key to develop new solutions with a value focus because if the value -not amount- of features and attributes that you have built into your solution is greater than that of your buyers' reference sets then you might be able to justify a price premium and capture a greater amount of the value that you have created.
People don’t buy features; they buy benefits