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How do you determine the right pricing strategy for your product?
Pricing can be a deal breaker for your customer, how do you balance between pricing, cost and value? Do you have any framework that has worked for you in the past?
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John
If you mean marketing strategy, I recommend an article on how to create a marketing strategy for your business:
https://blog.codeharbor.dev/2022...
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My view on this might be quite simplified but I go on it this way:
- how much time did I spend creating the product?
- how much automation has it?
- how complex is the product?
- how much value does it add to my customers' life?
The better the answers to these questions --> the higher the price!
Thanks @felix_digistash, I love this, it highlights the most critical metrics, but also, it's pretty impossible to know how valuable it will be to the customer beforehand.