My husband's background is sales and marketing, and he's pretty good at it. He has always insisted my prices should end in 9 rather than being an even $10 i.e. make a price $49 rather than $50. I'm not sure I've ever seen another art fair person do this, however. Is it a good idea? Does it annoy customers? Does it matter?
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Derek, I am right there with you on that one!
Your hubby is behind the times! According to some marketing guru's article I read recently, 7 is the new 9-- prices should end in a 7 to look like a good deal, because "everybody" is used to 9, and no longer believes it a bargain.....
That said, I round to the nearest dollar of my calculations for costs, labor, and mark-ups needed for the venue. Sometimes it does end in 9... or 7... or 0. Or any of the other digits in a "base 10" numbering system.
heck with Base 10.
That is sooooo, old school :-)
I might price this way:
$11111010
That would be Base 2 AKA. Binary.
That would be $250 :-) ;-)
Couldn't help myself.
:)
Being the contrarian for fine craft - leather: I often end my prices in5,6,7,8 because that is how they calculate out using 2.5X material and $60-$70/ hour labor. My clients, western lifestyle people, want to know they are getting a square deal. If everything in my booth was rounded to 0, they would know something was up. This is for belts, personal leather goods, dog gear, gun leathers, and equine tack - plain and hand carved.
I would agree with Greg and the others. I think it's a bad idea. Pricing your work to end with a 9 could take the art patron's mindset from that of being in a gallery setting to an aisle in Target.
It looks like a gimmick and cheapens your work. I agree with Greg.
I agree with Greg.
In today's times, people are a bit more savy of the pricing game.
I believe it just makes people displesaed when they see theat game played.
In this art world, I find price to be less of an object than many think.
We are selling our creativity, skill, talent, dreams, ideas & ourselves. Once the customer realizes that, the couple of dollars are meaningless.
Prices ending in 9 seems to feel more like a department store. Pricing your work is different at an art show or craft show and has an entirely different feel. I've always priced my work using amounts rounded to the nearest $10 and that has always worked for me.