COMP:How to price your product?

[Aravind Murthy]

All though this question comes as a part of this contest, it was a question nagging in my mind for quite sometime.

How do I come up with a right price for my product? (As a matter of fact, I am developing a script for newbie Internet Marketers.I will think about pricing once I am done with the script)

This question can further be broken down into two parts:

1. How do I put a price on my own product, so that it is neither cheap (doesn't make enough profits) nor too expensive (not many people can afford)?
2. How do I put a price on those RR/MRR/PLR products that everyone else is selling too?

Regards,
Aravind

[reedhowey]

All though this question comes as a part of this contest, it was a question nagging in my mind for quite sometime.

How do I come up with a right price for my product? (As a matter of fact, I am developing a script for newbie Internet Marketers.I will think about pricing once I am done with the script)

This question can further be broken down into two parts:

1. How do I put a price on my own product, so that it is neither cheap (doesn't make enough profits) nor too expensive (not many people can afford)?
2. How do I put a price on those RR/MRR/PLR products that everyone else is selling too?

Regards,
Aravind

Check out the competition:

1. What are your competitors selling prices
2. What additional benefit does your product have over competitive products

Test:

1. Split test on your Sales page text
2. Split test on your price

[WeedoGroup]

Nowadays you have to really look closely at pricing as i know from experiance with plr,mrr,etc as so many people are begging for money and let products down via trowing them at customers for well below a sensible asking price.

always good to check google, and with a forum like here and other top webmaster forums i wont mention here check them and ask for people to review your product and give sensible feedback and from this make your own assumtion....

always give away to get testimonals,reviews, such like to make higher value possible.
and follow reedhowey,s advice.

[mrstealth]

Right - this is a really complex issue.

I think though that reedho is right on - go to the clickbank marketplace and see what other's are charging for their product - make sure you are comparing apples to apples as far as the content is concerned.

Also, when designing a product you should have some idea where that price point is going to fall.

Most of the pure information products I am creating now fall in the $17 - $37 price range as that is what seems to sell best.

To get up in the $47 - $77 range you really need to provide a ton of content and value.

[keries]

My two bobs worth.

No long ago you could sell anything as long as it was cheap. Lately everybody seems to think anything under $10 is rubbish and a lot are also passing up freebies as well.

A couple years back everything seemed to be priced at $77 or $97 but these price points seemed have dropped to $47 and $37 or even lower. People are still prepared to pay more for physical product (CDs and DVDs).

As already mentioned compare apples with apples and check what similar products are selling for (not priced at and not selling). For example there are widgets for sale on eBay but if want to find out what they are selling for you check the completed sales.