Pricing Strategy Checklist

Know your total cost per unit/product

Include materials, labor, packaging, shipping, and any direct costs that go into producing each unit

Included all overhead costs

Rent, utilities, software subscriptions, insurance, and administrative costs must be factored into your pricing

Calculated break-even point

Know exactly how many units you need to sell at your target price to cover all costs before making a profit

Researched competitor pricing

Know what similar products sell for — pricing too far from the market average requires strong justification

Identified your unique value proposition

What makes your product worth more (or less) than competitors? Quality, speed, features, brand, or service?

Understand price sensitivity of your customers

Test whether a 10% price increase causes a small or large drop in sales — this tells you your pricing power

Tested different price points

Run A/B tests or surveys to find the sweet spot between volume and margin — the highest price isn't always best

Have a plan for price increases over time

Plan annual increases tied to value additions so customers see the justification and accept higher prices