possible but not at the expense of losing customers.   When to Use - After your initial introduction and you have the ability to differentiate your product.   Hopefully after reviewing these six strategies you realize that your price is not just a function of the cost to produce your product or deliver your service but is more a function of what youre trying to achieve.   Pricing Myths Exposed   There are a lot of myths out there about pricing your product or service, and some fly directly in the face of popular thinking (and what Ive stated in the previous section).   Myth # 1 - Price is the consumers most important buying criteria.   Truth - Yes, price is important but it is no way the most important criteria for a shopper. Ive never seen one study that has shown price to be the most important buying criteria for a consumer. In fact, most studies Ive reviewed show price to come up around fourth place on the importance list.   Just look at those who pay exorbitant prices to buy brand clothing such as Ralph Lauren or Tommy Hilfiger. How about those who buy goods at the local gas station or 7-11 store whose prices are astronomical? Remember the Cabbage Patch Doll or the Tickle-Me- Elmo craze? Prices went sky-high because the demand was so high for them.   Even if you have a product that you think is a commodity, there are a myriad of other ways to differentiate your product or service so that you can charge a higher price (which leads me to the next myth).   Myth # 2 - You have to match or slightly under-price your product or service in a commodity driven or competitive market.   Truth - There are so many ways to differentiate your product or service that it baffles me why businesses continue to believe this myth. Here are just a few ways you can differentiate yourself:   Specializing in a particular niche Adding bonuses or premiums Delivering it faster Touting your experience or credentials Showing successful case studies Having others testify to your differentiation Limiting distribution or accessibility Partnering with heavy-hitters