2025/05/19
Setting the right price for your products is one of the most critical decisions you’ll make in your business. Price too high, and you risk losing customers. Price too low, and you may hurt your profit margins, or even operate at a loss. Striking the right balance requires a mix of data, strategy, and ongoing adjustments.
In this article, we’ll walk you through how to price your products strategically, sustainably, and competitively, while also showing how business software tools like EasyPOS can help you stay in control of your pricing and inventory.
BIR-accredited easyPOS is your all-in-one solution to manage your sales, inventory, and customer data in real time!
Click to Learn More.BIR-accredited easyPOS is your all-in-one solution to manage your sales, inventory, and customer data in real time!
Click to Learn More.Before you can determine a profitable selling price, you need to know exactly how much it costs you to sell each product. This includes:
Knowing your total cost structure allows you to set a baseline price. Anything below this figure puts you at risk of operating at a loss.
Effective pricing also requires context. You must understand your market, competitors, and target customers.
Consider:
Studying market trends and competitor pricing helps you align your pricing with customer expectations while standing out strategically.
BIR-accredited easyPOS is your all-in-one solution to manage your sales, inventory, and customer data in real time!
Click to Learn More.BIR-accredited easyPOS is your all-in-one solution to manage your sales, inventory, and customer data in real time!
Click to Learn More.Customers associate price with value. A product priced too low may be seen as poor quality, while a higher price can signal exclusivity or better reliability. It’s essential to consider what your customer values—convenience, durability, affordability—and price in a way that reinforces that perceived value.
Some commonly used strategies include:
Choosing the right approach depends on your business goals, your market, and your customers’ expectations.
Pricing is not a one-time decision. You need to continuously monitor your sales performance, experiment with different price points, run promotions, and adapt based on what works.
EasyPOS can help with this process. As a point-of-sale system built for Philippine retailers, EasyPOS lets you:
With this Point-Of-Sale tool, you can make it easier to implement and refine your pricing strategies with confidence.
BIR-accredited easyPOS is your all-in-one solution to manage your sales, inventory, and customer data in real time!
Click to Learn More.BIR-accredited easyPOS is your all-in-one solution to manage your sales, inventory, and customer data in real time!
Click to Learn More.For a deeper explanation and real-world examples of these concepts, we invite you to watch our full video on YouTube: How to Price Your Products to Make a Profit Without Losing Customers. This video complements the article with visuals and practical examples designed to help entrepreneurs take smarter steps in pricing their products.
Smart pricing goes beyond basic math. It requires a clear understanding of your costs, your customers, and your market. With tools like EasyPOS, you can approach pricing decisions with better insights and improved control, ensuring that your business remains both competitive and profitable.
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