$9 JAR OF PICKLES
What makes local food twice the price? Over 50 farmers and foodies give their answers at Fermentation Fest.
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PODCAST
DISCUSSION
There’s an art and a science to pricing. The science of pricing is a simple calculation of the costs involved and comparing it to other comparable products and services, and that establishes the “price floor”.
Q: What are all the costs to the floor of your price? How does this compare to your competitors?
Cultural products and services are not commodities. The ability to convey that difference comes through storytelling. The “ceiling” for your price is an art form and it’s all about storytelling. There’s no true limit to how much you can charge if you can effectively communicate the story behind the product to your ideal audience.
“I think you buy the $9 jar of pickles from your neighbor, that you know has integrity, and is proud of their product, and uses good quality ingredients, and cares very deeply about the process, and writes that handmade label, there’s a lot of care that goes in...”
Q: What can you say about your work to double the price? Triple?