[Nigel]

Hi,
Ive been reading about money blocks through links on some threads here. From what I can gather it says you should charge what you feel a product is worth to someone else not just by adding 20% to the cost of producing it. It give the example of a £50.000 car not costing that much to make but still people buy them.
But, I can't help question what about your competitors. How do you go about charging if your price is much higher than your competitors?
I do picture framing and I charge what I consider a good price with a good mark up for me, but I have heard that a competitor is cheaper than me. So, should I lower my cost to compete with him or stick to my original pricing structure?