Whilst you have control of the price you set for your product or service you can't do this in isolation of external factors that impact your business. Consider:

1. What will customers really pay for the product, how much can they afford?
2. Where are your direct competitors pitching their prices? Is a price war on the horizon?
3. What's makes your product special and therefore capable of attracting an increased price?
4. Increases in energy costs
5. Fluctuating exchange rates
6. Movement in commodity and component prices from your suppliers
7. Legal requirements & changes that add cost now and in the future.
8. What impact does a trade association or consumer group have on prices?
9. How will the market respond to your price setting or price changes?