You already have a solid concept of your product and you’ve also tested a few samples of it. Your product already has a market and the features have already been polished. Before you present it to the market for selling, you need to price your product properly.
Pricing is a crucial part of the marketing plan. The price of your product has to be competitive with respect to the similar products in the market but it also has to give back some reasonable profit to the owners. It is a matter of balancing how much the consumer is willing to pay and how much profit you should gain.
via lukeroxas.com
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