How to Price your HW Product

Wondering what steps you should take in pricing your product?

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Determining the sales price of a product depends on three factors:

  1. Your sales model and whether you are doing direct or indirect sales.
  2. How much end customers are willing to pay for a product, which you will know from your customer research.
  3. The raw cost it takes to get your product manufactured and out to customers.

Part 1 – The physical product (the stuff you hold in your hands)
Part 2 – Manufacturing and testing (making the stuff)
Part 3 – Packaging and Shipping (sending the stuff)
Part 4 – NREs (a hidden costs that can sneak up on you)
Part 5 – Profit (everyone’s favourite!)