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Then, if you decide to lower the price, your existing customers will be happy - whereas if you charge too little and have to raise the price, your existing customers may leave you
Product
Is your product or service totally unique? Unless so, it's likely that someone else is servicing your potential clients already.
Understanding your product or service fully will allow you to promote it to potential clients more effectively - try to think of the reasons why your product would be the most important factor to your clients -
Is it new / different / unusual / designed to fill an identified need?
Do you provide more than the competition in terms of guarantee / quality / after care / finance?
Does your product answer a problem customers may have or fulfil a need that no-one else can?
Is what you provide, or sell, the most important reason people buy from you?
Price
Are you less expensive, or more expensive than the competitors? Some people will not buy the cheapest, assuming that cheap means inferior...
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