How do you value your product?

3 replies
It seems that the terminology used to describe your report/ebook/guide/blueprint may help determine your price point.

Similarly video is seen to have more perceived value than audio and pdf's

But when it comes to actually pricing them, do you just test the price and see which

quantity sold X price = Total Sales

is the greatest?

And what about starting out?

On one hand you may not want to appear as though your product isn't worth too much but on the other hand you don't want it out of peoples reach.
#product
  • Profile picture of the author glopin2003
    You value your product based on the information that you are providing as well as the ease that it gives the customer. If you are allowing them to view something that naturally holds more value because people are use to "watching something" but at the same time, if the information they are watching does not help them achieve a result right away, it is not seen as valuable.

    So it all boils down to what your offering.
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  • Profile picture of the author fwheaton
    Product price needs to also be determined by where you want to sit in your particular marketplace. That is a decision that should be made very early on in the process.

    I have one product that I created and launched into a very competitive environment. I decided to compete on price, so entered at a very low price point. I was successful because I offered a great and valuable product cheaper than anyone else. I sold a lot because of that.

    I have another product that I launched as the 'Premier Product" in the niche. All of my marketing for that product talks about it being the best product out there at any price...without question and I compete on things like great customer service. Because I entered my market with a great product and marketed it as the best, I was able to charge double what the rest of my competition was charging... and still outsold them.

    My point is you need to know your market and have a clear idea of where you want your product to sit in that space. A great product will be required regardless if you want to last long-term.
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  • Profile picture of the author speedfrog
    Banned
    Look around in here as well and see what similiar offerings go for and then it comes down to whatever the market will bear.
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