There are a number of factors that customers consider when deciding to purchase a product. When setting these prices, consider your profit margin, which is typically 30% or above. Retailers may want a profit margin of more than 50%, so keep the retail price in mind as you calculate it. You may want to provide a “suggested retail price” to help ensure that retailers price your item competitively — though you cannot control the final price that retailers set.
For more information about the factors to consider when pricing your product, check out the accompanying resource.