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• the strategy behind the pricing of your product needs to be based on what your customers are prepared to pay
• this refers to your PRICING STRATEGY for your product and services and how will it affect your customers
• your COMPETITIVE ADVANTAGE is what sets your business apart from your competitors
• market research - it will help to answer these questions
• good market research - will reveal how will your business is different from your competitors
• customer buy benefits - they are buying the benefit that it gives them it may that your product make their life simpler