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I'm curious to know what you think a good price would be given your above analysis?
It very well could be that price isn't the biggest issue, if you could solve the problem of the lack of awareness. That ship might've already sailed, though. As Jim Sterling says, "You only get one launch date."
Also, please don't take me too seriously. While I do stand by everything I've said, I'm no professional. I'm just some guy on Steam who's seen way too many games get thwarted by their ambitious price tag.
You should take into account that this is a very niche game that won't appeal to the core steam audience so lowering the price won't likely increase the audience and sales by much, so it's generally OK for niche products to have above average price.
Personally I think that when the discounts will roll in, the price will be just fine, and I'll be glad to grab it. So I suggest you stick to your pricing policy - people who want this game will get it on sale, people who don't - won't get it anyway.
// fellow subscriber and game maker.
I strongly feel that charging below 10 USD for a 20+ hours game is cheapening the author's work and should not be a norm.
I agree strongly with Danko. The OP wrote a lot and he makes some good points, however, arbitrarily lowering the price is not going to help. There are three traits that are at play here: public awareness, price, and rpgmaker.
The people that are your fans will likely purchase it at almost any reasonable price, which $11 fits right into; however, you do not have a lot of fans and you are not making many more on Steam, which is filled with people that have a horrible disdain for Rpgmaker games/developers.
In short, $5-10 is a reasonable price. Steam discount/sales will take care of the rest.
Also, If she changed the price now, she'd annoy people. Lower the price, and you piss off people who already purchased the game. Raise the price, and you piss off people who haven't bought it yet.
It's probably best to leave the price as is.