How can entrepreneurs develop effective pricing strategies?

Make it simpler ! Understand the variable cost. In this competitive market knowing the break-even point is crucial .

Don’t start here :) Consider instead what you need to earn, add back your expenses and tax, and from there determine a price.

Totally depends on the stage of business. Understanding cost is very important but how much part it will play in setting up price is determined by stage of business you are in

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Pricing is one of the most trickiest part in this journey. I would suggest a simple strategy of 10% while handling this. This one I am not sure but heard on a Y Combinater podcast. Start with what customers are ready to pay & increase 10% for each next customer that you acquire. But a caution, apply this thoughtfully while checking market conditions, industry & funds in your account.

Competitors have to be analyzed, but don't try to do the same. Think in a different way. Instead of doing the same, try to innovate, do something that will call people's attention. Your mission is not only to attract costumers, but keep them.

As estratégias tem como princípio conhecer seus dados, seu mercado, seu concorrente e seu produto. Pois através do preço é possível ter uma comunicação direta e eficaz com seu cliente. Entender que um setor de estratégia de precificação não é um custo e sim um investimento que tem grande relevância na receita.

I love giving people examples. Well, 5 years ago, I founded a private hospital. Like any other business, we have medical work to sell. Despite having the same graduation, physicians are not the same. Here, in Brazil, medical specialties differ the price. Some specialties are rare, but others not that much. So, I use the old formula of 'demand and supply' to reach the right price.

For sure we gotta test and adjust the price. Normally I do monthly. In my own example, I create a supply of medical work. Depending on the month, I can increase or even decrease the price. At certain times of the year, the demand for some specialties increase, that's when I can adjust the price of it. In december, brazilian summer, pediatrics demand decreases because of vacations, so I adjust the price so I can attract patients.

For me, testing and adjusting prices is like finding the Goldilocks zone – not too high for customers to back off and not too low to miss out on profit. It's an ongoing process of checking what works best. By keeping an eye on the market and tweaking as needed, I make sure my prices are both attractive to customers and profitable for my business. It's about finding that sweet spot where everyone's happy – me and my customers."