FMP price point

As well as label and target customer, there is other things you need to think about when creating your label. Two more things: Price Point and Company Ethos.

Price point is: “Suggested retail price of a product, determined in such a way as to compete with prices of other products. A product may be introduced with a specific price point, but that price may be altered depending on current demand and competition.”

Company ethos is: “The ethos of a company is its core set of values or operating principles that are used to set the tone for the company’s overall operations. In general, the ethos expresses the way that a company wants to behave. Some companies include concepts like environmental awareness or a democratic structure of communication in their overall ethos.”

When talking about the price point, I compared my non existed, yet, t-shirts with the ones already on the market. I compared prices of famous brands such as Supreme, Off-White, ASS Club to ER (my brand). I wasn’t surprised when I saw that one Off-White t-shirt costed more than 200 pounds. I just don’t really understand for what are you paying for. I decided that even if I will ever start selling my t-shirts, my starting off price would be no higher than 10 pounds.

FMP price point

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