How good do Medium prints look?

DodgeV83

marlinspike wrote:

Elasticity of demand is the key. Heroine is a good example. An addict will rob a liquor store to get the money if the price of heroine goes up. People won't do that for photos, but they will go fairly high before they cut back on buying. I don't think anybody says I'll buy $25 in pictures. I think there are people that say I'll buy everything that looks good and there are people who say I might buy something if it looks great, and there are the people who say I won't buy anything never. So, I'd say the demand curve for photos is a nearly verticle line where $ is on the y axis.
The evil in low prices is people do get hooked. The second you raise them people ask why, so you better have a good reason (like I did: bought much better equipment and photos became of a higher quality). The fact that I offered a person who asked a bulk discount and they basically said no, raising the prices makes sense in that instance, and then they went and ordered some photos seems to me that people rather pay high than pay highER, if that makes sense.

Makes sense, I wanted to keep it low my first time out. I'll probably call it an introductory price and raise them for the next track meet.

Thanks for the advice!

mercphoto

DodgeV83 wrote:

Makes sense, I wanted to keep it low my first time out. I'll probably call it an introductory price and raise them for the next track meet.

That excuse will probably work very well in actuality. I would use it and see how it goes.

DodgeV83

binghott wrote:

although i have always liked the philosophy of don't be evil, don't be greedy, i drastically increased prices of my prints today. my glossy/matte 4x6's are now $2, 5x7's are $5, 8x10's are $14.99. thanks for the idea guys, hopefully it will be the lifestyle of the rich and famous from now on for me. . .

How have you been doing after the price increase? Any complaints? Any sales? Keep us posted :

Chase

I one time tried pricing a team for 1.00 4x6s and such for JV football. I was amazed. a Couple of parents ordered 60 prints EACH, including some low profit (5 or 6 dollars each) 20x30 prints. I made about 200 dollars on 3 games. Normally I make maybe 50 dollars a game at my school, with much higher prices. So i was shocked about the price thing. My normal price for 4x6 used to be 5 dollars, but now I am trying out 3.25 for some dance recital pictures to see how that goes.

Also, one problem with cheap prices is people will not think the product is of very high quality.

DodgeV83

Chase wrote:

I one time tried pricing a team for 1.00 4x6s and such for JV football. I was amazed. a Couple of parents ordered 60 prints EACH, including some low profit (5 or 6 dollars each) 20x30 prints. I made about 200 dollars on 3 games. Normally I make maybe 50 dollars a game at my school, with much higher prices. So i was shocked about the price thing. My normal price for 4x6 used to be 5 dollars, but now I am trying out 3.25 for some dance recital pictures to see how that goes.

Also, one problem with cheap prices is people will not think the product is of very high quality.

Hmm, so you took 60 pictures of each player? I took at max 10-15 shots of each person. If 3 people bought all 10 pictures of themselves...I wouldn't even make enough to pay for the gas spent getting there and back :uhoh

I'm currently at $2.50 and haven't had any sales yet...I doubt it would be any different at $0.99

Chase

DodgeV83 wrote:

Hmm, so you took 60 pictures of each player? I took at max 10-15 shots of each person. If 3 people bought all 10 pictures of themselves...I wouldn't even make enough to pay for the gas spent getting there and back :uhoh

I'm currently at $2.50 and haven't had any sales yet...I doubt it would be any different at $0.99

This was of the quarterback and running back mostly. Most of the other orders for recivers and lineman and such were maybe for 5-12 prints.

Its easy to order 60 prints when they were ordering 3 or 4 of some shots to give to grandma, aunts, uncles etc.