How To Price Your First Product
“How should a new business price its first product?”
“That was the question facing Krista LaRiviere, co-founder and chief executive officer of gShift Labs Inc., in 2010, when she launched the company’s first product, search engine optimization (SEO) software called Web Presence OptimizerTM (WPO).”
“A product’s price should cover costs, of course, but marginal costs – the additional cost of producing one more unit – are negligible for software.”
Your product’s price should be well positioned against your competitor’s prices and you want it to encourage people to give it a try, but how exactly do you choose the right price?
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