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Pricing products

Fire&Rain

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Wordsmith
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When it comes to pricing your products one thing you should do is know your market. Research your competitors' pricing strategies and your target market's willingness to pay. Make sure you're not pricing yourself out of the market or undercutting yourself. Some people become too greedy when pricing their products. They price thier products more then double of the market price with the aim of getting rich quickly. This is never a good move.
 
Before I set a price for my product, I always find out how much others who sell that thing in particular sells theirs. This way I can decide on the amount to set mine.
 
There has to be a substantial profits margin when pricing your products. A30% markup pricing is not bad in my opinion.
 
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