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PRATHAM

 • 

Spotify • 1y

✨" Price On Value Not Cost " Elaborated🤌: Startups should price the product based on Value not cost. What this mean is, don't just price above the making cost instead you should price on Value. You can do this by doing surveys for PMF. In this survey ask people how much maximum they would pay ( I know many will say very low so in that case consider yourself, how much price do you think is actually worth). After getting ideal price from survey price it a bit higher and sell. Now what happens is when you apply this principle you will regularly try to improve your quality to get more profits and customers will be happy as well. Eg: If cost of making is $5 and you thought of selling it for $15 without any research and survey. After survey you got to know that your product is awesome and people are ready to pay $50 so you got profited right? This is how you can improve quality and do correct pricing with good and reasonable profit. 🚀📈 ( All of these are based on my opinion )

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