im trying to decide how should i price my product what do you think and why?

Question

baby 1st musical carseat warmer i said $139.99
i compare prices from my competitor like target, baby r us, etc

Answer 1

$20.00....You'll sell tons of them.

Answer 2

Best bet is to put on the marketing cap and do some customer feedback studies (you'd be more likely to lose money going by gut-feel pricing).

I'd create different pricing scenarios: the carseat alone, the carseat + heating, the carseat + musical, and finally the car seat + musical + heating. In this case, you can figure out the value-pricing of each product attribute. Who knows - the price and profit might be better going with a carseat + warmer and exclude the musical part.

Sounds interesting -- best of luck!

Answer 3

Yes you have got to compete. Possibly place your price even lower for a higher yield of sales and profit long-term. But make sure you are not breaking any patent laws before you go and manufacture it.


Personally I wouldn't purchase it for more than $30 made by anyone though. That's just me..

Answer 4

yah, price your product based on the quality you have. Meaning, reconsider the efforts and the time you spent on that product in pricing that particular product and make it available at affordable mostly to the general public.

thanks.

Answer 5

I'd give ya 50.00