As an entrepreneur, you must remember that not everyone can afford the same stuff. So make sure your products are affordable for most people. Also, you need to know what you’re doing before jumping in. The hardest part isn’t just starting the business, it’s keeping it at a good standard.
The best course of action, in my opinion, is to build something that people need and attempt to set high standards for it rather than starting a business with the poor or average people in mind. Sometimes you may lose your standards when you consider what the average person can afford. So, set a good standard, and you will undoubtedly see those who can afford it. Whether we like it or not, there is class in society, and prices are frequently used to convey class.
The image of the business may be affected if in a bid to create something that can be affordable for the average person, substandard materials are used. The implication is that the target audience may not even want the product because it is subpar. The goal of every business is to make a profit, so prices are based on production costs, which means that if so much is spent to provide utility, buyers should be willing to also pay more for the utility they want to use.