Thursday, January 12, 2012

Bracelet Survey Results

Thank you again to everyone who participated in my marketing surveys. I really appreciate it! Overall, the feedback has been great, with maybe one or two questionable comments thrown in here and there.

I really wish I knew who responded with which answers, because a few of you went above what I expected to receive as far as feedback goes. Unfortunately, the survey results only tell me the city the responders are located near, so unless you are from somewhere other than NY (Ohio, Virginia, Maine, Maryland, Connecticut, etc...), then I have no way of knowing who you were. So please don't be offended if I don't offer up a personal thank you for replying!

But on to the results!

For the bracelet survey, 31 people responded:

Photo/Project Credit: The Mother Huddle

1. If you were to wear one of these bracelets, would you wear it in antique copper (shown), silver, or gold/brass? (Select all that apply).
  • Antique copper - 67.7% (21)
  • Silver - 67.7% (21)
  • Gold/Brass - 38.7% (12)
2. Which colors, (in print fabrics) would you prefer? (Select all the apply)
  • Blues -67.7% (21)
  • Purples- 58.1% (18)
  • Greens - 67.7% (21)
  • Reds- 45.2 % (14)
  • Oranges- 51.6% (16)
  • Yellows - 48.4 % (15)
  • Browns - 58.1% (18)
  • Pinks- 41.9% (13)
  • Other: "all colors"; "black and white (together)"; "mixed up palette"; "All"; "prints are cute"; "any fun color combos you come up with!"
(Note about this question: I have no idea why I didn't include blacks and grays, or neutral colors in with the responses. I meant to....)

    3. What min/max price range would you pay for one of these?
    • The average range of responses ended up being $14-$17.42, with $15-$20 actually being the price range given the most . The lowest suggestion was $9 (which no offense to the person who made that one, but it made me laugh because that wouldn't even earn me back my total cost to make the bracelets!), and the highest price given was $25.

    Someone brought up the issue of our county (St. Lawrence) being the poorest in New York, indicating that prices should be on the lower end of the price range to be able to sell in this area. As I stated in my previous post, I do agree with this, as far as selling at craft fairs goes. You really should consider your average customer when selling locally. However, when it comes to selling on Etsy, I do believe that I could sell these for prices at the higher end of the range without any problems.

    My "Magic Pricing Worksheet" (see previous post) is actually pretty spot on with what the feedback has been, (although I just realized that the price I entered did not include how much it would cost to ship the supplies to me). The suggested wholesale price is $20, "safe" price is $25, and the retail price is $40. (If you read my previous post about pricing, then you will understand what those mean. If you have not read my previous post, which based on the stats, most of you haven't, then shame on you. Go read it now).

    Overall, the response to these bracelets was all positive. There were a few very enthusiastic responses to this item, ("LOVE THIS BRACELET!!!! SO FUN!"), which was very encouraging. I am definitely going to be making this in the very near future, so watch out for them! The only thing that I am waiting on is my seller.

    I have not been able to find any of the bases that I will need for this bracelet locally, so I am ordering them online through Etsy. This specific design of bracelet base has been difficult to track down, and of the three (?) places that I have found it, the ones on Etsy have been the cheapest, and it's only available in the antique copper. Thankfully, I found them early, before anyone else did, because they are the only listing for these bases on Etsy. Unfortunately, the listing was only for two bracelets, and I definitely want more than that. Fortunately, this Etsy seller was kind enough to place the bracelets on reserve for me while he/she collected a few more on his/her restock days. I am assuming that he/she buys these locally at a supply store and then resells them, which is fine by me, because the price is still cheaper than anything I have been able to find elsewhere for them. These bracelets may be in limited supply because of this though, so when I do start making them, if you see one that you love, then you had better act fast! :-)

    How's that for a promotion strategy?

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