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Lobby Biz Ideas topic #2372

Subject: "PRICING QUESTION!!!" Previous topic | Next topic
eshields1014Tue Apr-22-08 05:50 AM
 
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"PRICING QUESTION!!!"


          

Okay so I did the math for my product and this is how it turns out.
Keep in mind that I do not have tax where I live so I do not need to include it.

APROX 15 treats is 1/2lb 3.16
45 treats is 1 lb 6.76
63 treats is 1 1/2lb 8.92
97 treats is 2lbs 13.00

Should I round them to
3.25
6.75
9.00
13.00

or
3.50
7.00
9.00
13.00

I am not sure which direction i should do with this, i want the numbers to seem solid and good but apeal to the customer so please help thanks!!!

  

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Replies to this topic
Subject Author Message Date ID
RE: PRICING QUESTION!!!
Apr 22nd 2008
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nightskyTue Apr-22-08 10:27 AM
 
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#1. "RE: PRICING QUESTION!!!"
In response to Reply # 0


          

I buy treats for my dog for $5 for 5 lbs. Now, I really doubt that I am getting the best quality... but she is large and I can't see paying what the store wants for the better brands.

But, you are going at a different market... and marketing your treats as a high quality and nutricious snack for your treats. I think that you will do well. I hope that you have a web site up and running, or will before you start your parties. At your parties, hand out business cards or a handout that will have the website on it... so that people can go there and buy more. If your customer (the one's who have the party in their homes) are still involved, you could even drop off the orders at their house... in return for a cut of what you sell (again, in dog treats). Or not.

Good luck...

Jeff
www.NightSkyMurals.com
(Dealerships Available)

Jeff S.
Night Sky Murals
Award Winning Murals

www.NightSkyMurals.com (Product)
www.DarkSkyMurals.biz (Business Opportunity)

Featured in...

* The Robb Report's "Luxury Homes" magazine -
* Angies List
* in Affluent
* HGTV's show - "I Want That"
*

  

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eshields1014Tue Apr-22-08 10:45 AM
 
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#2. "RE: PRICING QUESTION!!!"
In response to Reply # 1


          

The parties were just an idea, I haven't made up mind mind if there were something I was going to go with or not. As far as my treats year they are 100% all natrual and healthy they dont have preservs in them or anything like that so they will cost a little bit more but they are very cheap compared to others...I have had a huge customer base interested so fa. I am just wondering what people thought would be good for pricing as far as rounding it out.

  

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nightskyTue Apr-22-08 12:17 PM
 
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#3. "RE: PRICING QUESTION!!!"
In response to Reply # 2


          

That's right... I went there to add my two cents worth about the pricing and went off in another direction.

I like the $3.25 or $3.50

And, since they are 100% natural, with all of the good stuff and none of the bad... I would start out at $3.50 and see what kind of reaction you get. You can always drop the price... it is much more difficult to raise it. Plus, a higher price creates a sense of high value for people... and since your product is just that, then go with the higher price first.

Jeff S.
www.NightSkyMurals.com
(Dealerships Available)

Jeff S.
Night Sky Murals
Award Winning Murals

www.NightSkyMurals.com (Product)
www.DarkSkyMurals.biz (Business Opportunity)

Featured in...

* The Robb Report's "Luxury Homes" magazine -
* Angies List
* in Affluent
* HGTV's show - "I Want That"
*

  

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eshields1014Tue Apr-22-08 12:25 PM
 
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#4. "RE: PRICING QUESTION!!!"
In response to Reply # 3


          

Thats a good point! Why is it harder to raise the price later? I was selling then 4.00ea or 3/10 and ii think there was about 24 treats in a bag so that almost sesms to be a beeter deal than what im doing now lol so uh maybe i sould re think? make them higher all around i have to think that S&H will be costly

  

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eshields1014Tue Apr-22-08 03:34 PM
 
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#5. "RE: PRICING QUESTION!!!"
In response to Reply # 4


          

well Small change...so when i weight them they were like 8 treats 44 treats so i rounded.....

10 for 2.56
20/ 3.76
45/6.76
60/ 8.56
95/12.76

it was it turned out to be and like i have been told customers like the change to feel as if they are getting a deal so i was thinking of leaving it at this insted of rounding

whats everyones thoughts

  

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BigBrightBulbWed Apr-23-08 03:09 AM
 
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#6. "RE: PRICING QUESTION!!!"
In response to Reply # 5


          

Hi again!

I have no explanation, but I like the 6 at the end, though I wonder if they should all be .76, and not a couple of oddballs at .56?

If you want to go with something like a best practice, I've read in a number of places that online prices ending with 7 and 9 test better for sales. Go figure

Hope this helps!


Crystal
Digital Curator
http://bigbrightbulb.com
Advice, ideas, answers, and inspiration for the smallest businesses with the smallest budgets

  

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eshields1014Wed Apr-23-08 04:08 AM
 
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#7. "RE: PRICING QUESTION!!!"
In response to Reply # 6


          

Yeah I think thats weird with the number things, but I already did the paypal and i am up and running untill I have to add more treats and do it all over again lol but Im very excited even tho I know It needs so mmuch more ahhhhhh sometimes i lose my mind and dont know where to go or what do to

  

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BigBrightBulbWed Apr-23-08 05:32 AM
 
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#8. "RE: PRICING QUESTION!!!"
In response to Reply # 7


          

Cool! That's a major accomplishment!

And hey, whenever if you don't know where to go and what to do, you can look at your up-and-running website and see where ya been and what ya did


Crystal
Digital Curator
http://bigbrightbulb.com
Advice, ideas, answers, and inspiration for the smallest businesses with the smallest budgets

  

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eshields1014Wed Apr-23-08 05:41 AM
 
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#9. "RE: PRICING QUESTION!!!"
In response to Reply # 8


          

yup i know that its just the point of having so much left to do and its costing me

  

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PepperfireThu Apr-24-08 04:24 AM
 
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#10. "RE: PRICING QUESTION!!!"
In response to Reply # 9


          

Perhaps late to the table, but here's my two cents anyway...

Price the treats at the high end of the spectrum. These are ultra-premium dog treats and you can always lower your price if they don't sell... You shouldn't have to ever raise it. You'll be selling where people are expecting to pay premium quality pricing; you should ask it. If you're selling on ordinary grocery store shelves, you should still be on the premium end, but you might want to target your packaging accordingly.

Also... don't forget to leave room in your price for wholesalers and distributors; they won't pick up your product if there is no wiggle room for them between your retail sales price and their purchase price.

Secondly... one thing about sales tax that rang when you mentioned it... Just because you live somewhere where there is no tax, doesn't mean there isn't ever going to be tax. If you get a mail order or e-order, you will have to charge the taxes for the place from where the recipient is ordering. If there is no tax there, then you're fine. But double check that to sure. My shopping cart is setup and updated using the Government shopping cart tax files that you can get from the US & Canadian Governments. (I only have to worry about tax on shipping).

T

Tina Brooks, VP Marketing
Brooks Pepperfire Foods, Inc.
Makers of Peppermaster Hot Sauces
http://www.peppermaster.com

Eat more peppers!

  

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eshields1014Thu Apr-24-08 05:29 AM
 
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#11. "RE: PRICING QUESTION!!!"
In response to Reply # 10


          

Thanks for your two sense but I am not going to worry about tax my shopping cart does not change every time someone will order something it will be the same price for every customer and I find that to be more fair anyway.

  

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michael0427Thu Apr-24-08 11:55 AM
 
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#12. "RE: PRICING QUESTION!!!"
In response to Reply # 11


          

Pricing items, no matter what they are, is a science, and it comes down to psycology actually. You should price them at $3.49 rather than $3.50, or $6.99 rather than $7.00. That small penny difference makes a huge difference in the mind of the consumer. That's why the Big Stores use such pricing, it makes the item seem like a much better deal. If you price them right, and they are amazing as I read about here, then you will do very well I'm sure. I hope this helps.

Michael

Learn How Our Streamline Will Place People In Your Business Today! Don't Be The Last To Learn How.
www.streamlinemagic.com/513515

  

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eshields1014Thu Apr-24-08 11:58 AM
 
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#13. "RE: PRICING QUESTION!!!"
In response to Reply # 12


          

oh thanks but I have repriced my items and figured it out but now i am confused on how my paypal shipping caulator intergrades with my shopping cart and knows how much the items weighs and how much to charge the customer... hmm anyone help me out here?

  

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