Tag Archives: Price point

Know Your Price Point

5 Jun

I actually don’t have much to say on this blog post. Sounds silly? Let’s see.

Know Your Price Point.
This is a biggie folks but its real simple.
Whether you are flipping homes or tee shirts, or used cars, heck if you have a new product- you Need to know where to price it/them at.

If you want 2000% percent return you better come correct.

In sales you Must know what the magic number is. And that magic number is equivalent to you recouping your cost, creating a healthy profit on top of that, and duplicating that sale repeatedly.

Why sell 1 tee for $500 when you can sell 1000 tees for $6?

Get the math there?

You have to know what your ideal customer will pay.
You have to know what your competition charges.
And you have to know your cost points.

Start there and when you know the numbers, email me.

I will crunch your numbers into feasible projections for the first 3 people who email me.

#thriveorsurvive.

No one goes to the Olympics for silver.

Thoughts? Concerns?
Questions? Think I’m wrong?
Let’s chat.
Need ideas?
Want to learn how to invite?
Let’s chat.
Want a mentor or maybe the guy who will bounce ideas back and forth with you?
Let’s chat-
Tony@Changeinadvance.com
@changeinadvance

http://www.changeinadvance.com

Or simply reply to this article.

Ruined Branding a.k.a. Every Dollar Ain’t A Good Dollar

5 Feb

Business MOOVS Column – ‘MAKING MOOVS‘ – Written by Tony Loubriel – Winter 2013

Ruined Branding a.k.a. Every Dollar Ain’t A Good Dollar

 

It’s a new year but for my fellow entrepreneurs it’s the same grind. We work and work, and maybe, just maybe we hang around long enough to be successful. Character, strength and commitment aren’t innate traits. We must cultivate them. That being said I’d like to look at  supreme brands I’ve found flaws with, which if I named and I’d bet they’d lose 20% of their market share.

Designer Bag A Brief History.

I remember being young and my sister who was 5 years older wanted a Designer bag. Not being from money it was obviously out of the question. Certain Designer Names are always synonymous with Quality. They’re known to be not just a designer good but worth the money. As I got older I saw many women spend their money for these quality bags and the complimentary accessories. I even had a designer money clip that was pretty neat. Fast forward to current day and my wife loves Designer Bags. She has the bags, the wallets, etc. I still think their items are snazzy but there is an issue with some of these brands.

Dilution.

Not all, but Some Designer Names have factory outlets. Everyone seems to have them now-a-days. The lowered price, great sales on top of that, and recognizable brands make for some great bargains. I love sales. Saving money while building my business or even just a great deal on Nikes, I’m in. But, there is another side to this issue.

You see Certain Designer Companies got slick. They discovered that they could make a product of similar quality with lower price points, and the fans of the brand would buy it. In fact sales went through the roof! More people could buy Designer items, at a lower price they would buy more items; most likely given statistical analysis. So they made more money through sales but they also made more money as the goods they produced were of a lower “quality.” Not to tarnish anyone’s name or reputation but the outlet goods cost less. Less material or different material yields vast savings.

Now I know everyone is thinking ‘It’s a win win’- but its not.

Over time people will realize that a large percentage of certain Designer goods out are conceivably inferior, at the very least vastly different. So this dilution could ruin the brand. People won’t want different or lower quality. Let’s assume I’m wrong it’s the same quality good, it is no longer exclusive. That my friends was a big part of the appeal. No one wants what everyone has.

How does this affect you and I?

We have to keep our eye on the prize. As an entrepreneur when you sacrifice quality for sales you disappoint your clientele and honestly you’re letting yourself down as well.

I can’t speak for all entrepreneurs but I refuse to be less than excellent. Every product, every article, every blog; I put my all in and make sure it’s a quality product.
Every dollar isn’t a good dollar folks. To make a quick buck but ruin branding is inherently flawed.

Every creation is a reflection of you and your brand. You can offer a lower price point and still churn out quality product- without question.

Only you can decide if it’s better to be diluted and cheap, or valuable and authentic? I’d say the answer is obvious but I’d love to hear from Moov’s readers.
What’s your take? ***

Peace,
T3

Thoughts?
Questions or concerns?
Hit me up @
Tony@changeinadvance.com
@changeinadvance
See more @ http://changeinadvance.com

 

 

 

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