Briefly describe pricing for your example of product or service. How does this compare to competitors, assuming competitors are at or near break-even point with their pricing? Analyze pricing alternatives and make recommendations about pricing going forward based on the following:
- How sensitive are your customers to changes in price?
- What revenue you need to break even and achieve profitability?
- What does the price says about your product in terms of value, quality, prestige, etc.?