How to Price Your Products or Service Just Right (MRR)
Problems with checkout?
Try your download again
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.
Cost is defined as the sum total of the expenses that you incur when making a product. Expenses include cost of raw material, machinery, packaging, delivery etc. Price is amount customers have to pay for per unit of you product /service.
For you to make a profit, the price should be more than the cost. Your prices should be consistently above the cost if you are planning to run your company for a long time, except in special cases. Sometimes you can lower the prices, to gain entry into a market for example. Starting with prices which are lower than your competitors would make people notice you. And once you collect a decent number of customers you can gradually increase prices!
How much would customers pay for your services is directly proportional to significant and valuable they think your product is. Of course your marketing strategies and reputation in the market will play a significant role in this regard.
Between these two numbers, your cost and the price your customers are willing to pay for your product lies your ideal price. If your price is a little lower than what your customers are willing to pay for your services, it would definitely work in your favor in the long run.
Tags: im, plr, mrr
More Files From This User
- Pocket Coach:Taking your business to the next level (MRR)
- New Preselling Secrets (MRR)
- Landing Page Success Guide (MRR)
- One Time Offers Uncovered (MRR)
- Low-Ticket Profits (MRR)
20 Articles On E-commerce Shopping Carts - With Plr + Bonus!
Infographics E-commerce Expansion
Creating Your First E-commerce Site
Google Wants Sites Like These - Panda Penguin Proof, Newbie
E-commerce Powerpoint Template
E-commerce Shopping Cart Secrets With Mrr (master Resale Rights)
Mobile Ecommerce - Plr
Tradebit is the worlds largest marketplace for digital files, with over 2.5 million satisfied customers and millions of digital products. Online for over 12 years, Tradebit is the best place to find files like music, video tutorials, repair manuals, and more. If you're curious about how much our users love Tradebit, read reviews from real buyers!