I monitor industry trends and changes and research what my competitors are charging for similar services and how their pricing strategies affect customer demand to monitor and adjust my prices to stay competitive. I also regularly ask customers about their value and whether my prices are fair to make informed pricing decisions.
I also use technology and data analysis tools to track the performance of different price points and identify patterns and optimization opportunities. By staying proactive and adaptable when monitoring and adjusting my prices, I can ensure a competitive value proposition and maximum profitability.