Price

Price: In today's market the T-shirt and hooded prices, differ greatly depending on the design of product. There is large market for these products and no doubt the tween market is larger, so taking  different option in to consideration is important, First the product must be a product that can be purchase for resale on wholesale market prices, second the product's quality should reflect that of final sale price, for the target market, third the product should be adequate to the design process. In these case the product should be adequate for printing process on the T-shirt and Hoodies. base on my research the product that I will be selling is generally has a value of 3.00 to 5.00 dollars per product on the wholes sale market. Meaning that product does not have a design or logo, the product is plain, also the final sale price of my product in  general has value of 15.00 to 45.00 dollars on retail sale market, prices differs depending on the size,design and styles on the product. "A small percentage improvement in price can generate a large percentage in profitability. More importantly, as a part of a company’s overall value proposition, price plays a key role in creating customer value and building customer relationships. “Instead of running away from pricing,” says the expert, “savvy marketers are embracing it.” Marketing: An introduction to marketing page 4, chapter 9. For this project design doesn't not differ than those of my competitors, The design is a basic T-shirt however the products style is unique, and that is what I'll base my Final price on. There are two pricing marketing strategies and tactics to considered: Skimming- this envolves entering the market at a high price level and skimming off as much profit as possible. as competition enters the market the price level would be adjusted as necessary. Penetration- This is the opposite of skimming With this type of strategy a company sets the price low deliberately. a penetration policy encourages more customers to purchase the product, which increases the company's sales turnover and also its market share. I will be taking is the penetration  approach and considering this is the first time.. my Final price for the product will be to sell the T-shirts at a 10 to 15 dollars depending on the Graphic design on the tee, the hooded I will be taking a the skimming approach the product is more expensive and has a greater value to the customer.. so  I will be setting a set price for 25.00 dollars.
But for this project my plan is to get the product for free from local retail store donators and others. so the final price will most likely be cover the materials needed for the design printing process. "Price decisions must be coordinated with product design, distribution, and promotion decisions to form a consistent and effective integrated marketing program. Decisions made for other marketing mix variables may affect pricing decisions. For example, a decision to position the product on high-performance quality will mean that the seller must charge a higher price to cover higher costs" marketing: An introduction to marketing page18, chapter 9.