Price is not just a revenue mechanism — it's a signal. A price that's too low communicates low quality (even if the product is excellent). A price increase can increase demand if it moves the product into a different perceived category.
Luxury goods are the extreme case: the demand curve inverts at high prices because the price is part of the product. But the principle applies more broadly: professional services priced too low attract clients who don't value them, demand constant justification, and are slow to pay.
The right question is not "what will people pay?" but "what price positions this product correctly in the buyer's mind?"
Related: metrics-that-matter, ↗ @james / price-signals