Thu, Sep 2, 2010
Fundy SOS has just today announced the development of Price Builder. Seeing the need for help in both profitable pricing and package creation, Fundy SOS becomes the first software company to offer a fully automated and integrated way to both price individual products and create photo packages based on business standards. Andrew “Fundy” Funderburg has put extensive research into how large multinational companies price their products and packages. Researching everything from Apple Computer’s iMac pricing strategy to Honda’s car model pricing strategy, he’s been able to tap into the psychology of pricing. Using his MBA and personal research he’s discovered that proper pricing strategies can guide clients to certain price points, effectively enabling you to predict sales.
“From what I’ve seen in the industry, pricing and packaging is one of the most difficult parts of a photographer’s business. The reason is simple. There is no industry standard, and, therefore, nothing for photographers to base their pricing off of. For the most part, we are just pulling pricing out of our hat. My feeling, is that by looking at how some of these multi-national companies price, we can use the same fundamentals to increase profits in our studios,” says Fundy.
Price Builder begins by using standard retail pricing mark ups to help photographers price their individual products for maximum profit. Using mathematical formulas unique to each type of product in the studio, the photographer can be confident that each product they sell will be profitable in the studio. Once the products are entered into the program, the magic really starts. Photographers can then start a new package set, whether it be price list for weddings, portrait sessions, etc. They choose their target price, how much they want to average for each booking or sale. The program then automatically chooses the best price position for that target based on event or session photography and fills in the other suggested price points for the rest of the packages. The suggested price points and steps are strategically calculated to push clients toward your target price point. Then it is just a matter of adding the products to the packages. Price Builder even suggests package discount targets.
Price Builder will include the following features:
- Save all of your individual products and prices.
- Include special design products, time-based and print credit products.
- Create unlimited package sets.
- Auto create price points based on one target price.
- Export price lists as print-ready pdf and editable Word Documents.
- A quick album pricer, for creating album pricing on the fly for clients.
- A quick package builder for creating custom packages on the fly.
- Export of order sheets and order folders.
Price Builder is set to release in early fall at the price of $199. Fundy SOS will guarantee that it will make your business more profitable or will refund 100% of your money.
Here is an early mockup of the program.
promises a lot–hope it can deliver–would be great to have a tool that would help with this challenging process