People believe in brands values it could be risky to ignore or treat it less than should. Pricing a product is challenging here is a great blog post that might help “The Economics Of Subscription Prices” by Eric S Burdon https://link.medium.com/Dwi1c3ASK6. Keep in mind that you might want to run some experiments to see what works best, reducing price is the easiest choice and could last just for a while.
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