Pricing

1. The Market

1.1 Unless you have a complete monopoly of a unique product, your product's value will depend on the competition.

• Who are your competitors, and what do they offer?
• What are the key features and benefits of their products?

1.2 Find out which products are seen by customers to offer the best value.

• Which products are the most successful? Do different market segments buy different products?
• What are the key criteria customers base their decisions on? Which criteria justify higher prices for different products? How do prices vary?