How do you come up with pricing for your product?
Natalia Toth
9 replies
Hey everyone,
Curious about how you decide what to and how to charge for using your product!
There are three most common pricing models: cost-plus pricing, competitive pricing, and value-based pricing. I've heard marketing experts say that value-based is the optimal one, but you need to factor in how much your competition is charging and how big your costs are as well.
Replies
Kehui Guo@kehui_guo
Just Scroll
I always start with competitive pricing, especially when the business is new and trying to break into the market.
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Flow State Training
Launching soon!
Usually, most go with the default value based pricing but today I've seen people experimenting a lot. Consider in Selftalk.ing, my recent product. It is one time payment based!
I guess where can I factor it out?
The Action Tracker - Life Planner
understand how your customer perceives your product and then also keep it simple. But avoid keep it cheap. Build quality and charge good but give excellent service.
Setting pricing for our product is like finding the perfect balance between impressing your accountant and not scaring off your customers - a delicate art indeed! Balancing costs, competition, and value keeps us on our toes!