Pricing Model Development for Start-up custom handmade items

Closed
Something Old, Something New, Veils by Marna
Burlington, Ontario, Canada
Marna Irani
Designer, Owner & Creator
3
Preferred learners
  • Anywhere
  • Academic experience
Categories
Market research Competitive analysis Product or service launch Sales strategy Environmental sustainability
Skills
preparing executive summaries secondary research surveys focus group research new product development legal discovery
Project scope
What is the main goal for this project?

I would like you to develop and test a series of pricing model options and present an effective data-based pricing model recommendation for my business. I would like to have a progressive range of price points for escalating items. You should conduct primary and secondary research to confirm your recommendation is validated by the target customer in this market.

To accomplish this, I believe you will need to conduct the following research:

  1. The organization’s costs, target customer, revenue targets, and business goals.
  2. The competitive landscape of this new product market.
  3. Organizing focus groups, surveys, and/or customer discovery interviews to get input and feedback on potential pricing models.
  4. Using targeted online ads to A/B test landing pages with different price models.

I want to enter this new market with a proven pricing model so that I can have a successful launch.

What tasks will learners need to complete to achieve the project goal?

Final deliverables should include:

  1. A written report including an Executive Summary that illustrates your research findings and recommendations on our pricing model which will include a several price points for items of escalating quality.
  2. A visual presentation of your research findings and recommendations.

About the company

I hand make elegant custom wedding veils. The exciting part is that I offer the ability to use the brides mother's or grandmother's or anyone's', used wedding dress as the materials to make the veil and to help create less environmental waste while creating a family heriloom that is easier to pass on then a wedding dress.