ISBN – 978-0-620-50911-4
Author – Marlene Oosthuizen
Publisher – North West School of Design
Design Your Price is a learning and teaching guide for seamstresses, fashion students, emerging designers as well as small independent fashion retailers.
Design Your Price is more than just a guide for those starting out within the fashion industry but is a tool that can be applied on a daily basis for all costing and pricing, no matter which sector of the industry your interest lies in and no matter your level of experience.
Giving the reader an insight into everything cost related, from costing methods to material costs, production costs and retail pricing, the reader will gain a better understanding of what goes into costing and pricing in a simple, easy to read and easy to understand manner.
Whether you are in manufacturing, home sewing or retail, this guide will help to ensure your price is right for your specific target market. Written by an industry professional, experience and knowledge are prevalent throughout this book. This allows you, the reader, to gain the quickest knowledge of the best costing and pricing methods that have been tried and test and that WORK!
From understanding the various types of costing and pricing approaches to illustrating the application of these methods, Design Your Price will equip you with the most effective and most efficient methods ensuring no time is wasted and no costs are forgotten. This is your ultimate guide to Design Your Price.
- Plagiarism Statement
- Introduction Introduction to Costing
- Difference between Costing & Pricing
- Why do a Costing?
- Costing determines…
- Stages of Costing
- Cost Classification
- Costing Guidelines Introduction
- What can influence a Costing
- Preparing for the Costing
- Is Mark up & Profit the same?
- Costing Methods Introduction
- The use of Cost Sheets
- Method 1 – Double up on Cost
- Method 2 – Adding a pre set mark up %
- Method 3 – Material cost, Overheads & mark up. No Production Cost
- Method 4 – Completely itemized & includes Stock Picking & Purchasing
- Method 5 – Itemized Costing
- Sourcing & Purchasing
- Overhead costs
- Dispatch, Delivery & Transport
- Case Study – The Real Cost of Cheap Clothing
- Material Cost Introduction
- Sizing & Size Ranges
- Fabric Usage
- Production Cost Introduction
- Establishing Production Cost
- Retail Pricing Important terms used by retailers in pricing
- How do we put a retail price on a garment
- Price Point Categories
- What is the customer willing to pay?
- Importance of Mark up for profit
- Other factors considered by the retailer when setting prices
- Buyer’s Pricing Strategies & Objectives
- Pricing Policies
- Guideline for mark up percentages
- Basics of Retail Math
- Price Adjustments
- Case Study – Lisa’s Purse Shop
- Checklist for Pricing Policies & Strategies
- Establishing initial mark up