When an inventor/businessman has translated an idea into a product. One of the most valuable questions is: “What should my price be?”.

There are many ways to answer this question:

- Price competitively relative to competition.
- Maximize growth with zero margin.
- Set a random margin.
- Price / Test / RePriceĀ and repeat.
- Email/Coupon based polling.

Each of these methods has flaws in that the price is never set to methodically maximize profit given all the available information. By definition, only the **optimal price** can do this.

I will discuss each of these methods in future posts.