How To Price Your Product Or Service Just Right

If you are trying to sell something on the Internet, pricing your services/ products would be the
single most important decision you will take. Since, the Internet provides thousands of
alternatives to the customers, you need to be at par with the competition. The prices that you
quite will determine how long you can stay in the market.
You need to acquire a clear cut idea about pricing. To what extent can you push it? How often do
you need to review the prices? A lot would depend on how you handle this stage of business.
You have to pinpoint a consumer group to begin with and then estimate how much they would be
willing to pay for your services or products.
But besides that you also have to ensure that you make some profit for yourself. And quite often
these two demands can be in conflict with each other. Different people use different techniques to
set the prices of their products. Some of them have a scientific basis and some do not. Given
below is one such procedure which works with an understanding of the production cost, customer
expectations and other players in the field.