NYC CNC | How to Price Your Product: 5 AWESOME TIPS! @nyccnc | Uploaded March 2022 | Updated October 2024, 18 hours ago.
Product price is more than material costs, labor costs, and profit margin. What if the cost to manufacture is above what customers are willing to pay? We'll cover 5 plus 3 bonus tips to help manufacturing entrepreneurs determine product viability and price them appropriately!

00:00 Intro: A Mistake That Almost Cost Everything
01:04 Retail Value VS. Cost of Goods
02:15 Product Viability: Can You Make Profit?
03:20 Oprah Effect VS. Low Sales
04:04 Profit Margin for Distributors & Resellers
05:18 Product Availability & Proper Pricing
05:53 Bonus Tip #1: Promotions and Discounts
06:12 Bonus Tip #2: $70 Steak & Customer Emotions
06:28 Bonus Tip #3: Listen to Customers, NOT Family
07:00 Learning From Competitors & Final Thoughts

5 Reasons to Use a Fixture Plate on Your CNC Machine: bit.ly/3sNA4uH
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Links for this video

When to Quit Your Day Job
youtu.be/2gutFy0_5jg

Oprah Effect Article
entrepreneur.com/article/200954

Psychology of Discounts Article
namogoo.com/blog/consumer-behavior-psychology/psychology-of-discounts

Xometry
xometry.com

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