Established companies in established markets generally have some standard ways to package and price their new offerings. Product extensions are benchmarked against the existing product line or the other guy’s features and prices. This leaves product managers focusing on “faster, cheaper, better, more.” In a brand-new market, though, there are fewer guideposts. Close competitors may not exist. Even before final products are ready, you need to define initial packaging and pricing for your fledgling sales force and prospects. Otherwise, the sales team will invent it haphazardly, one visit at a time. Here’s a starter approach that I’ve called “Goldilocks” packaging.