How do you handle pricing strategies and discounts?

When I was studying economics, we always said that we base the price on these basic things:

– cost level

– competition

– prominence of the industry/product

– target group

I would be interested to know:

How do you determine the price for your product, and whether you created anything interesting in your pricing model (e.g. packaging, etc)?

+ What is your opinion on promotions?

I heard a rather interesting thought: "The one who wants a discount on your product probably doesn't value your work."