?The best place is with research. Ask yourself questions like: ?How much does the product cost to make? ?What other costs does your business incur in acquiring and marketing that product? ?How much do competitors charge? ?How much revenue do you want to pull in? ?How much are consumers willing to pay?

In Direct Sales, setting the right price is key. Here’s how I approach it: Analyze the competition: I check what others charge for similar products to stay competitive. Value-based pricing: I set prices based on the perceived value of the product to the customer. Cost-plus margin: I calculate costs and add a consistent profit margin to ensure profitability.

To stay ahead in direct sales you must first have a valuable product to offer the market. Then start your pricing exercise by first quantifying the value of your offer. When you can demonstrate your product or service value it will be easier for you to justify the price you charge. This focus on value will make the price irrelevant because your aim is to ultimately show that your price is a bargain. The value of your offer must be clear to the customer and must be way above the price. The second thing is to ensure that you give the customer options through a tiered pricing menu. This makes it easy for the customer to choose the level of service that meets their needs and/or budget.

1. Market Research: Analyze competitor pricing and customer willingness to pay. 2. Value-Based pricing: Focus on the unique benefits your products offer, not just costs. 3. Tiered Pricing: Offer multiple price points to appeal to different customer segments. 4. Discounts and Bundles: Use strategic discounts or bundles to drive volume without devaluing the product. 5. Monitor Trends: Regularly review pricing against market shifts to stay competitive.