How should I price my new product?
An example of an AI chatbot conversation about pricing strategies for new products.
How should I price my new product?
Pricing a new product involves considering costs, market demand, and competitor pricing. What type of product are you launching?
It's a premium skincare line. I want to position it as high-end.
For a premium skincare line, you might want to set your prices higher than average to reflect quality. Have you researched your competitors' prices?
Yes, they range from $50 to $100. I was thinking of pricing mine at $80.
$80 could be a good price point, especially if you offer unique ingredients or benefits. Consider also your target audience's willingness to pay.
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