Deciding on a price for your product or service can be tricky. Set it too high and people disappear; set it too low and you leave money on the table.

The pricing strategy you adopt for your business should give flexibility and be easy for the buyer to understand. Do not overwhelm the buyer with too many price options that could make comparison difficult. Instead, offer 2 or 3 price options with a distinct value position. Ideally, tailor the pricing strategy to suit different customer profiles.