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 Post subject: Research for Self-Usage
PostPosted: Sat Jun 10, 2017 3:25 pm 

Joined: Jul 30, 2013
Posts: 608
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User avatarRonak Holdings I
 
How do you price research that you intend to use for yourself only?

Do you make it as cheap as possible, in order to have cheaper products?

OR

Do you make it as expensive as possible, in order to have a more real sense of what your product is costing you?

Also

If you intend to use that product yourself, what would you prefer?
or if you intend to sell that product to others, what would you prefer?


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PostPosted: Sun Jun 11, 2017 12:34 pm 

Joined: Apr 17, 2017
Posts: 17
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User avatarWorld Works International
 
ronak1996 wrote:
How do you price research that you intend to use for yourself only?

Do you make it as cheap as possible, in order to have cheaper products?

OR

Do you make it as expensive as possible, in order to have a more real sense of what your product is costing you?

Also

If you intend to use that product yourself, what would you prefer?
or if you intend to sell that product to others, what would you prefer?


My personal preference is to price the research competitively against the prevalent market rates (perhaps equal to the lowest equivalent level research).

This way, it gives a good sense of what the product would really cost if I got the research off a market license. But it also tells me what level of profit my research is running at, since the revenue effectively comes back to me via the research profit. Makes for good accounting.


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