Focus group and test markets. Do focus groups of your target customer to get an idea on optimal pricing. Then randomly create separate pricing points and monito

Focus group and test markets. Do focus groups of your target customer to get an idea on optimal pricing. Then randomly create separate pricing points and monitor the conversion rate. Find the point of profit optimization (# of sales vs. profit) and you have your price. Beware you also want to be aware of any growth rate influence (word of mouth) that might occur at different pricing points.