How to Set a Selling Price for Digital Products?

Let’s say you want to see ebooks? How do you set price for your ebooks? Or, let’s say you want to sell digital art or social media template, how do you set price for the products you want to sell. As far as I am concerned, I first analyze the market and check my competitors' prices. Then I analyze in the time spent creating the product. Based on these two factors, I set my prices for my digital products.