How did you decide the price of your product or service?

If the product is comparable with others than market price will dictate the price of the new product. in my case, I am launching a free version first, and pro and business accounts later. I estimated the cost of resources (AI API credits, cloud infra, customer service tax, etc.) and came up with a pricing model but for initial phase - for say 12 months — i will heavily discount these prices to acquire paid customers. For first 3-6 months, focusing on free users for word of mouth advertising and beta testing and tweaking.