How to get pricing information

While there are a number of ways to obtain such information, I would caution you that any data gathering should be done with business ethics and legality in mind.

Market intelligence is an important part of business strategy. You need to understand what products and services are being supplied at what price and where your products and services fit in that landscape.

It is best to consider a company in your industry, but not in your marketplace (out of state, for example). A direct approach through phone and email to find a cooperative individual is the first step. Once you have identified this person, approach them in an advice-seeking mode. Ask them more generalized questions first and then move on to more explicit questions, such as their advice on pricing and product design. General gross profit margin questions will likely get you the most information.

You should also consider asking friendly clients for their assistance with your investigation. Clients can sometimes help you with budget information to give you a sense for what the market expects.

Other sources for market intelligence include your industry trade associations, journals, handbooks, networking groups, government databases, patent files, market studies, competitive literature, competitive web sites, etc. Aslo, look for industry financial profiles found in publications such as Robert Morris Associates. You can find these at most libraries or ask your banker.