How do you price your product?

Generally speaking,

When one is trying to actually better themselves, I always reassure...nothing is a dumb question.

Since you seem to be taking action, I want to tell you, that's exactly how I got my start...with the hard goods.

Suppliers abound and I suppose I'll just recommend you look into "not so expensive" expert courses around this subject.

Look up steve clayton and "the blueprint" guys.

I tell ya, its not easy starting with retail...but if its your thing that I wish you the best of luck.

I always start low then raise it.

Split testing is always the best.

But make sure your tracking is accurate and proper.

You should base your products on the value that your buyer will get.

Think about how much would you pay yourself for that product.

How much time/money/stress would it save you if you had the product from the beginning.

If it's a money making products. How much will they make in their first few month if they implement everything you teach them.

And if it's an actual physical product than make sure you make a good profit after the initial product cost and all the expenses.

The markup is different in every niche. I would suggest going 50% markup if the market can handle it.

In retail I always add 50-70% minimum (depending on the product) and then add VAT/Tax

Actually, your questions are excellent.

Pricing physical products can be tricky. There are a lot of variables. Probably the first is, how much are you paying for them? If you have a good supplier offering good pricing you'll be able to undercut your competition some. The trick is to find a good supplier. The larger quantity you can afford to buy the better the price. The price you pay will also determine whether you can afford to offer free shipping.

Before you think of offering global shipping be sure you know the rates. If you're going to offer your stuff online see about getting set up for a rate calculator for your site where an overseas customer can check the rate before buying.

In my experience the best place to get answers to your questions is on eBay. It's a great place to do market research. Go there and price the stuff you want to sell. Make note of what the various sellers are selling that stuff for. You'll see big differences in pricing. Then look at how well each seller is doing, how many of their listings sell and don't sell. It's safe to say that the lower priced sellers are doing better. But that's not always the case.

China is the origin of lots of products. There are wholesale sellers from China doing business on eBay. There's also a major online wholesale broker by the name of Manufacturers, Suppliers, Exporters & Importers from the world's largest online B2B marketplace-Alibaba.com You might want to take a look at them. Good luck.

I think it's interesting that you think there is a big distinction between figuring out pricing between an ebook or a physical product. There really isn't much difference when you think about it.

You have to determine what price the market will bare.

There are costs involved with creating and delivering digital products too.
(and actually physical product is probably easier to figure out)

If your shipping is free, you need to add that to the price of your products. Personally I wouldn't do that in most cases.

Fed-ex ground can be done for really cheap, and you can scale it so if an order is over a certain amount (enough to cover your shipping cost) then the shipping is free (ie: orders over $100 get free shipping). Depends on what you're selling exactly.

Not all things - but you can google them and you might check amazon for a book on the subject.

What are people willing to pay? That's your answer. So you have to test the price to see where you get a nice sweet spot where you maximise your revenue.

I would try to get a discount for bulk from the suppliers, then offer a cheaper price than what buyers would get elsewhere as I would get value proposition, otherwise I'll just be thrown in the mountain of other retailers trying to compete for my coins.