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Does your product/service either reduce customer pain sufficiently to charge price you are, or give a sufficient degree of enjoyment to charge price you are.
Pain reduction isn't necessarily thought of in terms of kind of pain you'd take an aspirin for, but rather think of something like calcium tablets.
Calcium reduces probability that people will get osteoporosis in their old age. This is a huge pain reduction factor, therefore calcium tablets cost more than many other comparable minerals.
The same can be said for other vitamin supplements, when value of them is realized by medical studies, their price tends to go up.
Find ways to add more value if you're in a competitive market, but don't cut your lifeline with cut rate pricing.
Make yourself stand out with messaging that gives customer a strong sense of high quality of your products or services, then tell them not to expect any less.
You can increase not only sales, but profit margins at same time.
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