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Pricing is king because nothing else will define your business and products more – or, have such a vital impact on the success of your business. Your prices influence how many customers actually make a purchase, how your products are perceived, the types of customers you attract and the amount you collect in sales revenue.

There are several ways to arrive at pricing for your online business, but many pricing strategies leave money on the table and can even damage your customer’s view of your brand; this is the case whether your prices are too high or too low.  

Finding the right formula for retail markup is one of the most important decisions you will have to make and is vital to the success of your ecommerce business.

You're the seller and naturally, you want to get the maximum amount possible for your products.  The simplest way would be to just increase your prices and see what happens. 

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Your competitors may all be falling over one another to get a piece of the market - and discounting heavily to make sure they win their share of that market. However, you are really not compelled to join in; better in this instance to stay neutral in the conflict and let the others fight it out.

Do you have any nagging doubts that you might not be getting quite the optimum price for your products or services?  Are you confident you always utilise your skills, expertise and know-how to squeeze out those extra profits for your business?