Monday 22 March 2010

Pricing!

Having recently been taught the importance of pricing and how many different types of pricing there are, the group and myself decided to figure out what would be the best strategy for us.

We are donating all proceeds of "Brace Yourself" to Breast Cancer Awareness therefore we really want to try and make a profit on every item. Therefore we have gone for the Cost-plus pricing strategy. This way we are getting back what we paid to produce the jewellery and making a small profit on every sale. This will also keep it straight forward when working out the facts and figures after the stall!

We do not have a set "plus" price to put on top of the cost of production, so we have added on what ever the group felt it was worth and also taking into account the results of the survey!