Quick tips for better product pricing
Have a product but are confused about how to price it? Here are some quick tips
- 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.
- 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?
- Remember that pricing is a continuous process. You may need to adjust your prices based on market conditions and customer feedback.