How do you price your products?

Where to start.. You need to be familiar with the components of cost to your business, find the main components:

What are the four main components of Cost?

Pricing stradegy - to understand your differentiated value you need to start with your customer's business model and what they can do other than using your product (could be a competitor, could be doing what they do today, could be doing nothing). You will normally price somewhere in the range of your differentiated value, lower if you have little pricing power or are running a penetration strategy, higher if you have great pricing power or are running a profit skimming strategy.

Factor the standard markup percentage, this article and many online explain it right on.

Finding the Right Price for Your Retail Products | Entrepreneur.com

A few other tips to help with pricing structure,

6 Tips for Determining Your Pricing Structure | SmallBusinessNewz

At some extend I think you need to put into perspective factors such as your Retail Recommended Price (Distribution Channel or Supplier), market demand. Believe it or not even your total overhead cost gets applied, to those items being presobaly hand-made and not just in direct labor, but fixed manufacturing cost not just in the servicing fields and even overhead wages. Your goal is to price your products profitably.

I'm a full time reader, so find the spread very informative and not very long.