Quick tips for better product pricing

Have a product but are confused about how to price it? Here are some quick tips

[Photo by Karolina Grabowska]
  1. Examine what others are charging for similar products or services. This will give you a range/idea of what other may be willing to pay in this market, but you should never just cut/paste someone else’s pricing as your own. Look at how they landed on this number and why, and use that to inform what your product should cost.
  2. Adjust your price based on the *value* people will get from your product, not what *you* think it’s worth. What problems will be solved by using your product and how much is solving those problems worth?
  3. Remember that pricing is a continuous process. You may need to adjust your prices based on market conditions and customer feedback.

Good luck!

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