WHAT IS THIS SESSION ABOUT?
This is session is about figuring out a price for your product when you take in consideration what it costs to bring you product to market.
HOW WILL WE ACCOMPLISH OUR GOAL?
We will determine what materials are needed to produce your product.
We will list the price of each material?
We will determine add up the price of all the materials used.
We will figure out how many products we can make with the materials.
We will divide the number of items we can make by the cost of the materials to get an amount. If the materials cost $20 and I can make 40 items, then 40 items divided by $20 is $2 per item.
Research what similar items like your product are sold for.
We will set our price higher than the amount it costs for the materials and at a competitive rate with what similar products sell for.
Select a product and determine the cost to make that product.
Read a chapter in our book and share ideas.
Do some fluency practice.