Setting prices is vital to selling your product(s). Too high and you decrease the number of customers that you have. Too low and customers feel that your product is inferior to someone else's that costs more. Its a tricky balance to maintain in order to maximize sales.
For those of you that are having UI difficulties, set the price to something a little less than the highest to get correct answers.
I agree with your comments on setting prices- you have to find the right balance. I was hoping the unit would have given more information on how to do this. Is there a method to figuring out how to do this? It would be nice to have some kind of worksheet for giving you a place to start.
ReplyDeleteI was hoping for the same thing. Since price affects people's perceived value, I think that you just have to use trial and error and find some middle ground to be in.
DeleteI was hoping for the same thing. Since price affects people's perceived value, I think that you just have to use trial and error and find some middle ground to be in.
DeleteI agree, setting the right price a crucial step in the marketing process. One of the keys to setting the right price is the position of your product. If your products position is "low price"; then, the process is simple. However, if your products position is luxury or high quality, you have to determine the upper limit price point.
ReplyDelete