What price should i sell for?

Well, depends on the investment.

You price according to similar items in the market.

Price is more of a psychological game. if you're pricing high then in most cases you're giving your customers an impression that product if of high quality. Meet that quality, and create an prestigious appeal for it then you'll pull it off.
By pricing low, you'll be getting more demand, but generally your product will be perceived as a low quality product.

Just study the market, your competition, and your product. Start with an experimental price,and then you'll know if it is right or now. its a game of trail an error!

Price the product according to product quality. Don't price a cheap quality product $70
or something very high quality too cheap.

You have to understand whether your prospects deem your product to be of high or low quality.

There are good price points then to choose, e.g. 9.95, 19.95, 29.95, 49.95, 99.95, etc
or $37, $47 (with 7).

This is something worth testing. Use split testing to find the price that is the most profitable overall. It will vary for each situation.

Pricing is a mix of many factors. What is the supply vs demand for the product? What is the general market pricing similar products at? How does you product compare to the competitors? Can you articulate and sell the differences at a premium? Best of Luck!

Steffan, it would help to know what the product is in order to help you.

Si

this is a very good question.

First of all price is everything, most product owners pick a price and do that for life. They make $x amount of dollars.

What you should do as a marketer is TEST price constantly.

What you think is fair value and what you customer does also might be two whole things.

So you must test, measure, test measure.

When in the fitness niche, we actually had a very solid product, and lifted prices by 30% and sold more products. WHY? who knows, but why ask, just test! If we did not test, we would have lost all that 30% extra profits, as our sales went up.

We think it was price and perceived value in this niche, as there are other products that sell cheaply and are not good. So we increased and people loved it, and thought it was better, or got more out of it. etc etc.

My point here is as marketers we should be contstantly testing, or we are leaving money on the table, a change in a headline, price, or something else, a small TWEAK can have super dramatic results, and put more money in your pocket. FRANK KERN talks alot about this, but it works.

one of the well known warriors has on his sig line - ALWAYS BE TESTING!, and as marketers if you are not always testing, this game is not for you.

I know another marketer that was selling his ebook for $97 and he upped it to $500, he sold less but made more profits in a calendar month, he said, and had less problems with the customers that bought, as they had money and were better and higher quality. So see how this works??

The variables and opportunities here are pretty much limitless, and too much for a single warrior forum post. Hope this helps.

It's $16,347.22, obviously.

Brendon Burchard provides some good framework in Millionaire Messenger

Price is based on Value... Once your product provides more value than the price then your ok... Oh yeah value is perception and based on wants. So how's that for more confusion?

You could also charge

You should look for a 300% mark up (profit) this will give you sufficient return to have an income but also give you enough to reinvest in new products.

According to me, the ROI or, Return on Investment depends on the investment & selling price. You need to fixed the selling price, by observing the market. you know the market is very competitive than past. So you need to see you similar's products rate. then fixed your's one.

Depends on your product and where you sell the product. For a Software Choose $47 - $97
For a Video Course $27 - $37
For a complete blueprint guide $17
& For a Mini guide $7 - $9

But I must say you should charge as you want!
Carlos

It all depends on what you're selling, and what the perceived value is. If people think your product is valuable they will pay more for it. The converse is also true: If people think your product is cr*p, you won't be able to give it away.

I'll give you a true example of how this was bought home to me...

When I was a student in the US, back in the 1980s, I had a part-time job in a large department store. One of the best selling lines in the menswear department, was a certain brand of polo shirt with a logo embroidered on it (I'm not going to mention any brand names here, but the clue is in the description). The quality of these shirts could best be described as "average". The store bought them for $10 a piece, and sold them for $30 - that's a 200% mark-up. They sold like hotcakes because a) they were considered to a be a prestigious brand and b) my employers were one of the few places that sold them.

Across the aisle in the Budget Menswear department they sold a similar polo shirt, but without the logo. They also cost the store $10 each, and the quality was actually slightly better. They sold for $20, but the store had a hard time shifting them unless they were on sale - usually for something like $14.99. Why? Because the prestigious brand had a higher perceived value. People were prepared to pay more for an inferior quality shirt by a designer brand, ratherthan buy the better quality own brand one, because they thought the designer one would be better, and they wanted to be associated with the brand.

Incidentally, the women's version of the shirt also cost the store $10, but they sold it for $50. I asked the manager what the difference was between them and the mens' shirts. "They button up on the other side," he told me "and the sizing is slightly different."

Being young and naive, I asked him how come they could justify charging $20 more. "Because women are prepared to pay more" was his reply.

Perceived value is the only thing that matters when it comes to pricing. That's why people pay $300 for a plain black Prada T-Shirt or something similar.

The only exception to that is if you plan to have a sales funnel that involves an easy to get front end product (for example a $14.99 book/ebook) and then upsell from there.