Profile
Member Since 2014
EIX Editor Emeritus
Phillip Phan
Alonzo & Virginia Decker Professor of Entreprenuership and S / Carey Business School / Johns Hopkins University
AUTHORED RESOURCES
Entrepreneurship in the Laboratory Can Save Lives
18401 views
Considering a breakthrough product's commercial potential early on can improve its chances of reaching the market. Read More...
EDITOR'S PICKS
The Walk from 'No' to 'Yes'
http://www.ted.com/talks/william_uryEntrepreneurs spend most of their productive time in negotiation. It is inherent in the entrepreneurial process (ideation, resource assembly, resource allocation, deal making etc). In this talk, Ury makes the point that "Getting to Yes" is not about getting only what you want. It's achieving the goal that everyone walks away with something they need.
How Dynamic Pricing Works
https://www.youtube.com/watch?v=jxKg65AimSIThis is a great video to explain the concept of dynamic pricing using the airline industry as an example. The reason this is a useful resource is that it gets entrepreneurs away from the idea of one price or one size fits all pricing. This is a common mistake, even with single product companies. The idea that a product or service has different value to different customers is one of the most powerful strategic marketing insights for new startups that are struggling to figure out a breakeven pricing strategy. This idea also means that one does not think of a product in a monolithic way but rather as a bundle of attributes with different weights for different customers. This forces entrepreneurs to be more sophisticated in product design, positioning, and ultimately pricing. This means that they need to build a ‘product story’ that is naturally adaptable to the evolving customer segments that they might encounter at business launch and growth.