How do you set the right price?

There are basically only two methods for determining the selling price of a product or service? You can either use what’s called a cost-plus model where a (usually) fixed mark-up percentage or amount is added to what the business’ pricing manager considers to be the underlying cost. (It works even better when your cost is accurately known!)

Or the selling price can be set by using what’s referred to as value pricing, which I learned to call perceived value. This is a nice...

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