Practical marketing is a special challenge with a lot of stumbling blocks.
It is a common phenomenon that the first tactic in business is, to use pricing as a tool.
Cutting prices is one of the oldest and most commonly used sales strategies.
It seems like plain old common sense.
After all, everyone does it, but that doesn’t mean that you should.
When you cut your prices, you may make the sale, but your profits will be lost. And you need this profit to stay competitive.

The minimum price offers an orientation.
The minimum that is required to pay the bills for the business and your personal private life (after subtracting the income tax).

There is the tendency to forget the costs for further education in this calculation.
In that case the differences in quality in comparison with your competition deteriorates constantly.

Most branches have a price range accepted by the potential clients. Sometimes this range is really broad.
Competitor prices are a good comparative tool to use when calculating your pricing.

And in case the usual price in the market is not enough?
It is your decision to choose one of the options:
You could overestimate your market value and the project ends very prematurely!
Or better still you bring it to an end as fast as possible.
Or alternatively you could find a way cut costs and do it more economically.

Yes, that is easier when the business is still in the phase of preparation.
At this stage the simulation of different parameters like the price is an integral part of the process.
But sometimes this process has to executed when the business is already up and running.