1. Pricing
Your price range leans towards the high side of things. While we understand that your material and production costs might be high, the price range of $233.78 - $147.92 might be too steep for people to commit to ordering a Bluetooth speaker, considering the other competing price ranges in the market. Here are some things you can consider, which might help you adjust the price range to be more reasonable:
1. Set your minimum order quanity (MOQ) at an amount that makes sense for you and your customers. With your current MOQ, the first 4 customers must be willing to purchase the JUN speaker at $233.78. If no one else orders after them, they will end up paying $233.78. Taking your current figures into account, an MOQ of 10 will mean that the first 10 customers only have to commit $159.26 if the MOQ is met, and if not they would pay nothing - that already seems like a better deal for your first 10 customers. Of course, this is riskier for you, since if 10 orders aren’t met, your project will not go through. So the trick is to find a right balance.
2. Adjust your price graph. Balance Overheads, and Lower your Per-Unit components. A greater weightage on your Overheads will make your curve steeper (greater price drop), since overheads spread over the increasing number of people who buy. Lowering your Per-Unit figures will uniformly move your curve down, in your case, reducing your starting price from $233.78. Remember that when customers place an order, they’re also thinking about how many other people will order the project if it dips to a certain price along the graph, so the figures have to be reasonable.
3. No Markups required. If you’ve previously marked up 8% for the Haystakt transaction and Paypal costs, you can remove this markup from your inputs. We’ve automatically calculated this markup for you so that it makes things easy, and we’ve now made it clearer as to how it’s applied.