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Worked at a major retailer. Quirky would bring their products through to show us and the universal reaction was: 1. WTF? 2. The MSRP is what?!? I mean, an $8
by strictnein 11y ago
Worked at a major retailer. Quirky would bring their products through to show us and the universal reaction was:
1. WTF?
2. The MSRP is what?!?
I mean, an $80 egg minder tray that talks to my cell phone?
- petra 11y agoI agree. Just out of curiosity ,at what price the egg minder will sell well (if possible) ?
- Agustus 11y agoWhatever you see on the store shelves 60% goes to the store, 40% goes to the manufacturer as a starting point; you can of course negotiate, but just assume this. You could back track from the egg minder being $80 and people who are shocked to find this out when they need a certain cost to cover costs, estimate that it was $32 originally to make a profit; still not going to work. The key concept is to look in stores to find what product category you fit into. Are you selling a timer, what does another timer look like and cost, that's your target. If there is not a comparable item, then look to see what item has a similar finish, does it look like an Apple Watch or a $5 egg timer. Egg timer is $5 at Wal-Mart, start poking around that price.