Ask HN: How to price your product?
For all of you who charge for your product, how did you determine your price point(s)? Any good book recommendations on pricing and strategy?
The industry I'm building my product for currently has one player that dominates the market. I don't want to price my product lower than theirs because 1) it may lead to a price war 2) lower price is not a competitive advantage
If I price it higher, it may signal that my product is of higher quality. However, some people don't use my competitor's product because they say it's too expensive.
So do I price it the same? Slightly lower? Slightly higher?
I know I'm being very vague, and price will also depend on the type of customers and market. What are some things I should consider when pricing my product? If you need more details please leave a comment.