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How to Communicate Your Value: The Ultimate Guide

Once you have created valuable products for your target market, it’s time to generate demand and prepare to secure orders at value-based prices. To do that you must communicate your product's pricing in the context of the value it creates for your customer. This guide...

Product Management Essentials: The Ultimate Guide

Need help defining expectations for your product managers or onboarding a new member of your team? This product management essentials guide will help. It contains clear definitions of the capital-equipment-product-management role and its expectations. This...

Product Strategy Development: The Ultimate Guide

Getting ready to launch a product-strategy-development initiative? Your team needs more than a set of fill-in-the-blank templates. They need a common language and thought process. Your team also likely needs how-to help with critical product-strategy-development...

The Product Strategy Questions You Must Answer

Product strategy provides the answer to the question “How will you compete?” Competing in the product strategy sense means figuring out how to serve a target group of customers better than the competition. It follows then that you need to understand the customer and...

Why You’re Not Getting Paid for Software

Too often, capital equipment companies fail to capitalize on aftermarket software revenue. The most common rationale is that equipment buyers just won’t pay for software. The software in this context is just one of the many subsystems that must be present for your...

Upgrades: The Holy Grail of Aftermarket Profit

Different from the break-fix service business in which customers are paying you to keep the systems running per their original specifications, the upgrades business is one in which they pay you to make their systems do more than they were originally capable of doing....

How to Harvest the Break-Fix Annuity

When capital equipment breaks down, it requires fixing. This cycle of breaking and fixing is what creates the “break-fix” annuity for capital equipment suppliers. The components of the break-fix annuity include: Replacement and consumable partsSoftware bug fixesRepair...

Aftermarket Strategy: The Ultimate Guide

It was King C. Gillette’s idea to “give the razors away but charge whatever traffic will bear for the blades.” This became known as the “razors and blades business model.” While capital equipment providers cannot afford to give their systems away, their aftermarket...

Secrets to Successful Cost Reduction

Within moments of giving birth to your new product, you were told by senior management to begin reducing its cost. So, your team shifts into a cost-reduction mode and begins sorting the product’s sub-assemblies by their material cost, attacking those at the top of the...