Work out how to price your product or service

This prompt acts as a pricing strategist. You give your costs, what competitors charge, who your customer is and what makes you different, and it suggests a price with reasoning you can test.

text-pricing-strategy — chatgpt — 67 words

Act as a pricing strategist. Help me price [PRODUCT OR SERVICE].

My costs per unit or hour: [COSTS]
What competitors charge: [PRICES]
My customer: [WHO THEY ARE AND WHAT THEY CAN PAY]
What makes me different: [DIFFERENCE]

Suggest 3 pricing options (cost-plus, value-based, competitor-based) with a number for each, the pros and cons, and which you recommend. Include a simple good / better / best package idea.

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Never price on cost alone. Ask "what is the result worth to the customer?"

Get a better result

What you will get

Three pricing options (cost-plus, value-based and competitor-based), each with a number, pros and cons, a recommendation and a simple good, better and best package idea.

Common mistake

Prices are set from cost alone.

Fix: Add what the result is worth to the customer, as the tip says, and ask the AI to work out the value-based number from that.

Also watch for

Your costs leave out your own time. Include hours, tools, fees and tax in the cost line, or you will underprice.
Competitor prices are guessed. Paste real prices you saw, with dates, and note what each competitor includes.

Try a variation: make a discount rule

Ask for a clear rule on when you can discount, by how much and what you get back, so you do not cut prices by habit.

Still not right? Reply with this

I will test one option with five customers. Write the message to send them, and tell me which reactions would mean the price is too low or too high.