Question

How would you establish an Effective Pricing Strategy for new software?

Answer 1

For establishment of effective pricing for a new software, I will be making different consideration-

A.I would try to estimate the demand for this software in advance from customers.

B.I will also try to generate the information about competitive strategy and substitute products of this product available in the market

C.I will also try to generate an idea about the range of the pricing the competitors are putting in for the similar products in the market

D. Then I will be able to decide whether to go with the price skimming or price penetration.

These all are the factors I will be trying to factor in fixing the pricing of the software