We are new to the industry and our competitors are charging 3x of our amount. So should we raise our pricing or continue with less pricing to accquire more customers?
I feel less is good, but feeling that are we loosing some amount where the customers are already ready to pay.
then may be you can reasonably increase pricing if it’s required, or may be do A/B testing.
But since you seem to be in the startup phase, if I were in your place (even though I don’t know what your product is), I would focus on acquiring more lower-paying customers. You can always ask them to pay more at any time. Once my product has a reputation on par with my competitors and achieves feature parity with them, then I would think about increasing pricing.