Online Product Creation Guide - How To Set Your Online Product's Price

There are 2 things that you need to consider for putting the right price for your online products. They are quality, and the market. If you put your price too high with a low quality, then nobody wants to buy your products anymore. So, what is the best way to win your customer satisfaction?

For the quality, it is make sense that high quality products should have the higher price than low quality products while the lower quality products will have the lower price. But, that's not the only aspect to decide the product's price.

The most important thing to consider your product's price is your market. If your market size is huge, then you can sell your product at a low price. Go for the volume and try to achieve your income target. Remember that you need to decide your own income goal. For example, you decide that your goal is $10.000 in one month, so it will be easier to decide the price. With a low price, try to get higher volume of customers. If you have a small market size, don't try to sell your product at a low price. Give them a higher price so you can make your goal with small volume. If your market is small, you cannot make much from up sells by pricing product too low.

Let's take an example, if your goal is $10.000 and your market size is big, then you can try to sell your product at $37 so you can achieve your goal if you have sell more than 270 copies of your product. If you have a smaller market size, you can try to sell your product at $197 so you only need more than 50 sales to achieve your goal. Remember that the higher your price, the more your customer will be expecting for your product's quality.

What is the best number to set your price? You can end your price number with "7". It will secures your product at a hot price spot. For example, $17.00, $27.00, $37.00, $97.00, $127.00, $197.00. It will sound not too high and not too low. Another hotspot is $8.99, $9.95, $19.99, $29.95, $79.95, etc.

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