How should I set prices for my new products?
An example of an AI chatbot conversation about setting prices for new products.
How should I set prices for my new products?
Setting prices for new products involves considering costs, market demand, and competitor pricing. What type of product are you launching?
It's a line of eco-friendly cleaning supplies.
Great! For eco-friendly products, you might want to emphasize their unique benefits. Have you calculated your production costs?
Yes, my production cost is $5 per unit.
You could consider a markup of 50-100% depending on your target market. What price range are you aiming for?
I was thinking of pricing them around $10 to $12.
That sounds reasonable! Make sure to also research competitors' prices to ensure you're competitive.
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