How to Set the Price: 4 Must Read Blog Posts

At Shook, we know it can be difficult to put a price next to what your trying to sell. Do you price it high to make the most money? Do you price it low to guarantee that it sells? I hope that the following blog posts can help answer some of these questions for you.

Conversion XL: The way that you price your product has an affect on people. Keep in mind that most people don’t always know how to price things fairly. If you give them more options of different prices, it can help customers understand what the best price is for them.

INC: Pricing your product can be one of the most difficult things to do. Some factors to consider when pricing your products are to know your customer, know your cost, know your revenue target, know your competition and know where the market is heading. Your product price should vary depending on what the market is willing to pay, how your company and product are perceived in the market, what your competitors charge and whether the product is highly visible and frequently shopped and compared.

Artbistro: Make sure you are aware of these guidelines before posting your art to sell. 1.) Prices are based in part, on medium. 2.) Prices are also based, in part, on size. 3.) All prices must be relative to one another. 4.) Your prices must be consistent.

Marketing, Confidence, and Time: Make your offer better than any one else’s. Make people feel that they need to have what you are offering; don’t sell it on the price.

Make sure that you are setting a fair and reasonable price (for you and your buyer) when you post an item to Shook. Anyone else have any other tips of how to price an item? Need additional advice on how to set your price? Comment below and let us know!

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