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Topic: Marketing Crafts & Pricing Research Companies  (Read 836 times)
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SewMantra
« on: March 28, 2012 04:59:00 PM »

Hi Crafty Kids!

I have been doing research and I'm coming up short. I need to have some market research conducted on a few items I'd like to sell as well as some research on how to price these items. Does anyone know if there is an online company/companies that specialize in working with the crafting community who does market research and pricing for the sale of products?

If so, have you worked with them and what was your experience?

Thanks sew much!
Martiel

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Martiel B.

Sewmantra
REUSE | RENEW | REINVENT
http://www.zibbet.com/sewmantra | http://sewmantra.blogspot.com
Chris in VT
« Reply #1 on: March 29, 2012 04:01:53 AM »

Marketing and research companies? Never used one. My marketing and research was to ask myself "What would I pay for this if I were a customer?" And I'm cheap.

When we come up with a new item we just answer our own question and put it out at that price.  If it sells quickly, we raise the price a bit for the next show. What you're looking for is "what will YOUR market bear" in this economy.

Many times crafters must find out the hard way that what the market will pay isn't worth the time and energy spent to make it.
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There's NOTHING at a craft show, or on Etsy, anybody NEEDS. NOTHING.
www.shadypinestudios.com
SewMantra
« Reply #2 on: March 29, 2012 04:54:54 AM »

Thanks Chris in VT for your reply. That is about what I'm finding in the way of information out there. Thanks again.
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Martiel B.

Sewmantra
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« Reply #3 on: March 31, 2012 05:58:34 AM »

The best info I think is out there is http://www.marketresearch.com/map/prod/6838308.html. I've read some of their other reports, and they do an excellent job. That is, for about $1500 per report.

Or, you could buy into a membership like this, with benefits https://www.craftandhobby.org/eweb/DynamicPage.aspx?Site=cha&WebKey=f02a8a39-d3ae-4901-97c9-fffd43505ae3

Both cost real money, which is why you won't find a lot of forum DIYers going professional/commercial. If it's low cost you want, then you'll get a lot of advice like "go look on etsy". If you want solid research, you have to pay for it.
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ItsHandmade
« Reply #4 on: April 30, 2012 10:02:37 AM »

I agree with Chris in VT.  You can get a good idea of what items go for by looking at similar items that have sold either on Ebay or Etsy.  That will give you real world information on what people will really pay.  You can start with that and work backwards to see if it makes sense to make them after you figure in time and expenses.  You can also make an item and try selling it in different venues to get an exact idea of what the market thinks it is worth.  Sometimes you really do not know until you put something out there.   
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