When starting a business, pricing your products or services effectively is crucial for both attracting customers and ensuring profitability. To determine the right price, you should first calculate your costs, including production, overhead, and labor. Then, consider the market demand, competitor pricing, and your target audience’s purchasing power
the design dot . You can choose from various pricing strategies, such as cost-plus pricing (adding a markup to your costs), value-based pricing (pricing based on the perceived value to the customer), or competitive pricing (matching or undercutting competitors).
