1. Identify your Product Pricing Goals
2. Know your Costs
3. Know your Customers
4. Price based on the value
5. Do market research
Explanation: One of the most important things to focus on is listening to your customers. The second one is to keep track of your competitors. And finally, have a budget action plan in place. Remember, in order to maximize profitability, you must achieve balance. That means finding an optimal price.
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