When it comes to pricing, and pricing yourself, there are so many contributing factors. The first is that you need to cover costs, the second that you need to make a profit – a wage, and the third that you make a surplus so you have buffer for the future, savings, and the ability to invest in your business.

Coming in from the side of that equation is a number of psychological pricing trains of thought. These include Charm Pricing, where you “reduce the left most number by one” or in other words you make a $3.00 product a $2.99 product; Prestige Pricing, where you round up to a simpler number like taking an $8.96 product to $10; Comparative Pricing or Anchor Pricing, where you environmentally surround a price with other prices to make it look good – like creating a $100 option and a $10 option either side of a $50 option you actually want them to take – anchoring that main product well and truly in a position of value.

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