One issue that every early-stage startup faces is whether there are customers who would buy its product or service and even if there are customers, then at what price they are willing to buy the product or service the startup is offering.

Here is a simple method to validate both product as well as price.

Step 1:

There are a few ways by which you can run a market validation on your product or service even before launching the startup. This is a very cost-effective method to validate your product or service:

1. Create a landing page with product info.

2. Create a FB Page with similar info.

3. Run a 'Lead-Gen' campaign

If there are leads, there are prospects who want your product.

If there are no/lesser number of leads, try updating product info.

Step 2:

Once you are sure that there are customers in the market who want your service, the second step is to find out the price they would be willing to pay for your product or services. This is called price discovery. The process of price discovery involves targeting the same set of customers with additional information on the price of the product/service.

Here is how you can do it:

1. Add price to the (product) landing page.

2. Run a Lead-Gen campaign.

If there are leads, there are prospects who want your product/service at the price you are offering.

If there are no/lesser number of leads, try adjusting the price.

Once you have enough leads with the product details and at a specific price, you know:

a) There are customers in the market who want the product you are offering.

b) They are good to buy it at the price you are offering.