The Definitive Guide to Pricing Your New Electronic Hardware Product
Article Technical Rating: 5 out of 10
Setting the price for your new hardware product is one of your most important decisions. You need to get your pricing right as early as possible. If you mess this up it will be difficult to fix later. The pressure is on.
Pricing is a complex decision with many variables. In fact, there are entire books written on the subject of pricing. Ideally, pricing is something you should begin thinking about from day one while validating your product idea. If you set the price too low then you won’t make enough profit. If you set the price too high then your product won’t sell well.