How do you adjust prices to maximize your revenue?

To maximize your revenue, you need to:

1. Determine the per-product costs.
2. Establish a reasonable profit margin based on the WTP factor.
3. Do comprehensive research on your key competitors.
4. Think about using competitor price monitoring software.
5. Consider your unique selling proposition: the added value you provide to your customers.
6. Use the following method to calculate your price: Cost per product / (1 – Desired profit margin as a decimal)
7. Experiment and fine-tune your pricing.