There are two ways to approach pricing.
One way is to put the price and any related information publicly available.
The second way is to hide the pricing and provide custom pricing for each customer.
Both of the above approaches related to pricing a product has its own positives and negatives. The advantage of publicly displaying the price is that it requires less effort in negotiation. More people are willing to deal with you when you are transparent in your dealings.
But custom plans and per customer pricing has the advantage that you can offer a higher price to a customer who is capable of paying more. This can improve your margin. And also provide you with an option to provide deeper discounts to your favorite customers.
But the drawback is that it affects your reputation if one customer comes to know that you are charging way less for the same service for another customer.
In short, it is not only what you charge for your product matters but also how you charge for your product .
So before you even consider selling your product, make sure you have decided on how to price your product.
One way is to put the price and any related information publicly available.
The second way is to hide the pricing and provide custom pricing for each customer.
Both of the above approaches related to pricing a product has its own positives and negatives. The advantage of publicly displaying the price is that it requires less effort in negotiation. More people are willing to deal with you when you are transparent in your dealings.
But custom plans and per customer pricing has the advantage that you can offer a higher price to a customer who is capable of paying more. This can improve your margin. And also provide you with an option to provide deeper discounts to your favorite customers.
But the drawback is that it affects your reputation if one customer comes to know that you are charging way less for the same service for another customer.
In short, it is not only what you charge for your product matters but also how you charge for your product .
So before you even consider selling your product, make sure you have decided on how to price your product.
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