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What it is the best way to creat a product or service and set a proper price

If i want to create a new digital product or service, what can be the best way to define it and set the proper price to attract customers

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The best way is to study the market and ask yourself what you would like to offer to the market and how to be the only one!!! To introduce a new product or service, you must have a professional team of media professionals with you to identify the target audience and make a large media campaign to promote the product. I recommend working in the digital fields, audio-visual satellite channels, and marketing products through websites. Venezuela is a country with a strong market through which it can make great profits. my regards Dr. Magdy El Hawary magdyelhoary@gmail.com

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To create a new product or service, you will need to answer some basic questions to be able to lay a solid foundation for your business adventure. Below are some of the questions:

  1. What problem are you seeking to solve? Is it about innovations, class, comfort-ability, affordability, reliability, etc

  2. Who are your target audiences/markets? Gender, age bracket, employment status, society class etc.

  3. Where can they be found? Online, offline, schools, markets, offices, etc.

  4. How do they think or reason? Susceptible, flexible, rigid?

The answers to the above questions will help to come up with the best and great idea and with a more realistic pricing.

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There are a couple of fundamental pieces to your question: 1. Find a niche or product/service that isn't being offered today, but is needed OR is being underserved 2. Determine what makes your product/service unique and why what purpose will it address 3. Determine what portion of the population will want it and WHY 4. Determine how much people are willing to pay 5. Test your assumptions with a couple different price points and packages (if possible) 6. Operationalize your findings 7. Execute

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