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What is the main factor do you consider when setting the selling prices?
For me l would consider the cost of the production or the business operations. After having a balance on those factors l would arrive at the selling prices.
Particularly when I sell something prepared at home like some sweets then I do it's costing, and then consider how much labour cost used there and then fuel cost and finally my profit margin.
I’d say the main factor is profitability. You have to find that sweet spot where you’re able to sell a product at the right price while also covering all of your costs. There needs to be enough profit for it to be sustainable and worthwhile in the long run.
I will consider the total cost of the products and the prices of the competitors. In this way, I can have the idea how much the pricing of these things should be offered in the market.
For domains, I consider the market price and whether I am likely to use the domain in future. At present it is very difficult to sell advertising, so I am letting several domains drop.
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