You Increased Your Prices – Did It Help or Hurt?
2 comments
Pricing is a discipline. I feel that it cannot be determined solely based on costs; instead, it should be set according to the value that the product can bring. Pricing essentially involves finding the most suitable product-market fit.
Pricing these days is usually based on “what consumers are prepared to pay”, but this you can usually only find out by doing tons of surveys / research, most small founders don’t have this, I agree with you that it should not be based on “what it costs to produce”