As of 13 August 2026, AI can only partly set the right price for your product.

What to actually do

1. Use a tool built for this

   The route this page recommends

2. Do it yourself

   Second choice

   A chat interface, chat-fluent skill, and roughly 1 hour until you can act on the result.

   How to actually do it

   1. Open a spreadsheet and create columns for product cost, packaging, fulfilment, payment fees, returns, VAT treatment, current price and competitor price.
   2. Gather your latest supplier, fulfilment, payment and returns figures, then enter each cost per unit or subscription period with its source.
   3. Collect comparable UK competitor prices, pack sizes, subscription terms and any visible delivery charges, and paste the links and the date checked into the spreadsheet.
   4. Add your existing sales evidence, including volumes, conversion data, discounts, repeat purchases and customer feedback, leaving unknown fields blank.
   5. Paste the completed table and the product, customer and commercial constraints into the prompt, then ask the chatbot to show all calculations and assumptions.
   6. Compare each proposed price against your spreadsheet, current price list and competitor evidence, correcting any calculation or VAT error before choosing a test price.
   7. Run a controlled price test through your normal sales channel, recording conversion, contribution, refunds and customer objections before changing the permanent price.

   Prompt

   Act as a pricing analyst for a UK business. Recommend a starting price for this product, but do not present it as certain or claim that it is the objectively right price.
   
   Product: [describe the product, pack size or subscription term, and what is included]
   Target customer: [describe the customer and use case]
   Sales channel: [for example, direct website, retailer, marketplace or sales team]
   Currency and VAT position: [state whether prices should include VAT and any relevant VAT assumption]
   Unit costs: [materials, manufacturing, packaging, fulfilment, payment fees, returns and other variable costs]
   Fixed costs or required contribution: [provide figures or state that they are unknown]
   Competitor prices: [list named competitors, comparable products, prices, pack sizes and links or dates checked]
   Existing evidence: [current price, sales volume, conversion rate, repeat purchase rate, customer feedback, discounts and test results]
   Commercial constraints: [minimum margin, stock position, launch deadline, positioning and any price ceiling]
   
   Use only the information supplied above. Identify missing inputs and label every assumption. Calculate the contribution and margin for each proposed price, showing the formula and treating unknown costs as unknown rather than inventing them. Give three price scenarios, explain the trade-offs, recommend a starting price or price range, and state what evidence would change the recommendation. Separate facts, calculations, assumptions and judgement. Finish with a simple UK price test plan that does not mislead customers. Do not invent competitor data, customer demand, legal requirements or market statistics.

   Open it prefilled in ChatGPT or Claude, or copy it into Gemini, which takes no prefill link.

3. Hand it to a person

   The distant third

   A person who owns the outcome does this end to end, worth it when the failure is dear.