How do you know if you are charging too much or too little for your products or services? Since determining the right price is a difficult task for businesses, SBN offers some tips that might make the process easier.

In this video report, Abby Johnson lays out 6 pricing structure tips for businesses. They are:

1. Look at competition
2. Utilize local resources
3. Obtain customer feedback
4. Evaluate supply/demand
5. Conduct market research
6. Calculate business costs

With the current economic challenges, now would actually be an ideal time to evaluate your pricing structure since it gives you the opportunity to distinguish yourself from your competitors. Check out all the details on pricing in this segment on SmallBusinessNewz.

Tags: Abby Johnson, Commerce, Finance, Management, Market Research, Pricing, Supply/Demand