The Two Keys to Profitable Pricing of Sublimated Goods
Ask apparel decoration business owners what their number one challenge is, and they’ll likely cite “pricing.” Pricing has routinely been “tagged” as being one of the thorniest issues, but at the end of the day, it’s really not as difficult as it’s often made out to be. The key is developing a mindset that takes into account the big picture, so you can fully understand what it truly costs to generate an order. At that point, you can then apply marketing strategies for working in appropriate margins that generate the profits you seek.
Today, from 10:30 to 11:45 am in Room 335, join Jimmy Lamb for “Sublimation Pricing and Cost Analysis,” in which he will cover two key components: what it costs to produce sublimated goods and what those goods are worth to the customer. The first part is easy to determine by gathering and analyzing business data in order to generate a baseline cost for printing — or what it really costs to produce sublimated goods. The second part is much more subjective, because there is no single solution for dealing with mark-ups. As a result, when setting the selling price, it’s important to focus on raising the “perceived value” in order to obtain the highest possible mark-up, which this session will delve into as well.
Key learning points: