software, pricingI am selling an accounting software from 5 years for all businesses at the price of 4000/- rs for life time (no any yearly amc or renewal).
My competitors are selling accounting software at more prices like 9000, 12000, 15000, 20000.
Note:- all my competitors have less functionalities or facilities them my software. This comparison ratio is they have 50 to 60 % less features then me.
They are costing yearly 1500 to 2000 renewal or amc charges. But I am not. My software doesn’t need any amc or service because of perfection and no bugs.
After GST in india they all increased price to 15% to 40% or 100%.
So what should I do? I am thinking of increasing price from 4000 rs.(current) to 7000 rs. (after increment). So am I right?
What should I do? Which thing I should keep in mind?
99% of my customers are loving my software.
You could do a small research with your costumer base. Ask what they are willing to pay for your software.
In my opinion your prices could be higher. Even higher as your competitor. Because your costumers pay for lifetime access to your software. One time payment beats recurrent payments.
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