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ACTION STEP: Never sell on the concept that your product or service is the cheapest. never use the word cheap.
If you can sell at a lower price than most of your competitors, mark your product with a high price but offer a coupon or a rebate that lowers the price. You may consider offering an addition product or service if they buy today.
If the price is too low people will think something is wrong with your product...unless, Offer an explanation, Say because we do not have High Mall Rent and huge employee cost we are able to "pass the savings on to you"
Pricing your product is a scientific process. Click on the video links below
Click here Pricing Tips
Click here- Pricing strategies