Need some suggestions on my software pricing...

Hi Guys,

I'm new to this forum but already amazed about the member engagement. I hope I can get benefit from all experienced warriors here.

Anyway, I'm a PHP developer working for a mid-sized company. My dream is to quit from my daily-job sometime this summer and able to earn my own money from making web apps.

I am currently building a web app which will let website owners, web app owners and developers to measure specific feature usages. For example, a web app owner will be able to measure and monitor logins, login failures, password reset email deliveries or anything he wants easily with my software.

The software is ready (I'm thinking a name of my software ) and now working on the website for my software. This is going to be a downloadable PHP web software.

Anyway, I am struggling with the pricing. How should I set the pricing for my software? I checked some competitors and it seems that the biggest competitor is something called Cockpito.com. Their software is $89 per license.

So, should I position my software based on this competitor software? What I mean is;

- Should I set my software pricing "cheaper" than Cockpito, such as $69
- Should I set my software pricing "expensive" than Cockpito, such as $109

or should I make my software "FREE" for 5 months and once I get enough user base set a pricing such as $59?

My objective is to reach $3000 monthly sales until the end of summer and quit my daily job.

If there's anyone experienced on this topic, I will be very happy to hear advices.

Thanks again.