Price Discovery

If you have a product or service which is new and pretty unique or exclusive do you have any good ideas about how to gain any insight in to how much any buyer would be willing to pay (obviously after working out costs)? I am new to IM and i'm pretty stumped.

My opinion

Any decent price...but keep in mind - price should Not be "too low" or "too high"

Set some Good affordable price based on margins.

Do you mean a physical product or not?

MisterF said:

Do you mean a physical product or not?

Click to expand...

Oh yeah sorry, it's a digital service right now. By 'Unique' don't mean patent pending or anything like that. Rather it's a unique and elaborate approach to existing market - like totally new recipes for existing dishes, if you will. It may he possible to turn it in to an app but there is one massive limiting factor this time but most of it will be bespoke manual implementing as a freelance service rather than some cookie cutter saas, takes anywhere from a few hours to few days to produce to finish the work depending on how elaborate needs are. Baring in mind, it will be costing me bare minimum expense of £25k a year to gather everything I need to put this together (that's just functional costs, not general business costs). just wondering if there was some technique or something that could he used to plan two test the waters.