How do you think about pricing your product?

Several factors - innovation, materials, comps, intellectual property, brand -- all go into the value of the product.

I think it is a typical gut feeling stuff. We can determine the broad range by logic but not the exact number.

Increase your price until your customer complains but still pays :) The product should bring real value attached to your pricing. I think the best way to do that is to talk directly to users and understand if your pricing is very high or low.

I don't think there is really a right answer to it. You will need to balance the cost incurred to you and the value its adding into someone's life. You will need to find a market fit somewhere there!

No matter, how I choose, one thing is constant - the second thoughts about it😂

I think an anchored price would be helpful for customers to gauge if the product aligns with their budget expectations. It may serve as an initial icebreaker, enticing them to reach out to the sales team.

I would have 3 options: 1Free Trial with limited usage 2. a 9.9 monthly version with lower entry barrier for payment to attract innovator customers 3. a full blown version of about 49 USD per month fee to get the full benefit of my product

Good question. It always seems to me that it's not quite ready for people to pay, and we still need to do this and that.

Target Market. Marketers are willing to spend a decent amount and I based my pricing off that.

Pricing a product is a constant challenge for marketers. It's a concept we learn early on MARK101, but it can still be a complex topic even in PHD studies. Pricing strategies have evolved from fixed prices to one-time payments, and nowadays, subscription models are popular. To keep it short, the right pricing strategy depends on the market, the product, and its stage in the lifecycle. One approach gaining traction is subscription pricing with flexible feature charges. This allows you to adjust prices based on demand, supply, and added product features.