How Products and Prices Work
Products define what your business provides to customers, while prices define how much and how often you charge for those products or services. Let’s break down these key concepts and how they work together.
Products
Products represent the specific goods or services your business offers to customers. They can be digital products, or services, depending on your business model. By defining your products, you're essentially outlining what you’re selling.
Pricing Models
On Mainstack, prices are not just a simple figure—they are a strategic part of your business's revenue model. Prices determine how much you charge for your products and how often you charge your customers.
Prices can be structured in different ways:
- One-time prices: This is a fixed price that is charged once for the product or service.
- Pay in Tranches prices: This model charges customers at regular intervals, such as weekly, monthly, or yearly.
- Pay What You Want prices: It allows customers the flexibility to choose their own price, making it a personalized and value-driven purchasing experience
- Fast-Action Prices: This offers customers a limited-time opportunity to secure exclusive deals by acting quickly, creating a sense of urgency.
If you offer a subscription service, recurring prices come into play. For example, a subscription could charge customers monthly or weekly for continuous access to a service. If you offer the same service at multiple subscription intervals, it's often best to create different recurring price options for the same product.
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