A Pricing Experiment pt 2

[Former_Member]

Just in case anybody missed it in the original thread, I posted a second blog following up on some of the discussion from part 1.

Part 1 is here:
jewelry-gal.blogspot.com/2013/05/a-pricing-experiment.html
Part 2 here:
jewelry-gal.blogspot.com/2013/05/a-pricing-experiment-part-2.html
The original Discussion Thread is here:
http://www.etsy.com/teams/5002/etsy-success/discuss/12280407/page/1

[Former_Member]

Love your posts!

[Former_Member]

Excellent, just as part 1!! Thanks again.

[Former_Member]

These posts are eye-opening, especially about who is and who is not your competition.
Thanks.

[Former_Member]

I also think that sometimes we price our products according to our own spending budget and not what the products are worth, but we are not necessarily our own target market.

[Former_Member]

Thank you! Great discussions too!

Not only this but it is essential for the well being of our shop. If we are underpaying ourselves, not earning enough for our supplies and expenses, we may eventually lead to the difficult decision - closing shop.

[RedRiverAntiques]

Heather, love your advice!

[Former_Member]

Thank you all so much for taking the time to read and comment!

@Jeanne, I think you're absolutely right. In my first blog post, I posted a link to an Etsy Lab that talked a bit about how our individual experiences with money and finances are our own, and that it's difficult to stop thinking "I would never buy that at that price." It's definitely a challenge to stop thinking from our own perspectives, and instead think from our audience's perspective.

[Former_Member]

Thanks for the great articles and links! I have used that basic formula for awhile, but have to admit that I pay myself minimum wage. Now with more experience and superior work, I think it's time to give myself a raise pretty soon!

[MaxplanationPhotos]

what a great post !!!

[Former_Member]

I'm so glad to hear you're all finding it helpful :)