WHAT IS IT?

Pricing models are an important aspect of your business. Pricing your product might be a trickiest part of the business. If you price your product too low, you can be seen as a fraud. If you are too pricey, people won’t buy it.

HOW TO USE IT?

It is very important to know who your target audience is. Are you serving high-class people or are you targeting people who are searching for low priced products?

Following your Marketing plan or using the VRIO framework can help you out. You can also ask your customers what they think about your prices.