How do you come up with pricing for your product?

Question

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.

Kehui Guo · Accepted Answer

I always start with competitive pricing, especially when the business is new and trying to break into the market.

Vaibhav · Answer

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!

Natalia Toth · Answer

@amit_arora fully agree!

Gurkaran Singh · Answer

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!

Amit Arora · Answer

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.

Nsikan Dickson · Answer

I guess where can I factor it out?

Amit Arora · Answer

@natalia_toth 😊

Natalia Toth · Answer

@kehui_guo yes, I think it's the easiest way to start!

Natalia Toth · Answer

@thestarkster absolutely!

How do you come up with pricing for your product?

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