| COURSE TITLE and REGISTRATION NUMBER: | BUS3001: Pricing and Selling Your Jewelry |
| SKILL SET AREA: | Business |
| PREREQUISITES: | None |
| GOALS AND OBJECTIVES: | - To teach how to calculate the
cost components that go into making a piece of jewelry - To teach how to apply a formula, using these cost components, in order to determine a fair minimum and maximum price for your piece of jewelry - To teach how to evaluate whether your design and its associated costs fits with the price you think your market will pay for the piece - To explain differences in pricing strategy among retail-home studio, retail-store, wholesale and consignment - To rehearse the steps for marketing your jewelry |
| DESCRIPTION of MAJOR PROJECTS/TASKS: | The major tasks are to learn how to
calculate various costs underlying the design of a piece of jewelry, and
to apply a formula which interrelates these costs in order to calculate a
fair price for your piece
To learn each step of the marketing process, and how to relate marketing to your own goals for selling your jewelry |
| DESCRIPTION of SKILLS/TECHNIQUES/CONCEPTS TO BE LEARNED: | - cost assessment - how to value your labor - how to understand ways to manipulate your costs, given your market - how to put into effect a comprehensive marketing plan and process |
| CLASS TIME ESTIMATE: | 2 1/2 hours |
| MIN/MAX # STUDENTS PER CLASS: | 2 -8 students |
| CLASS FEE and DEPOSIT: | $30.00 fee/ $30.00 deposit |
| ADDITIONAL CLASS COSTS PER STUDENT: | None |
| WRITTEN COURSE DESCRIPTION |
CENTER FOR BEADWORK & JEWELRY DESIGN BUS3001: Pricing and Selling Your Jewelry How to price and sell your jewelry is a course designed to teach people how to realistically appraise their costs and how to fairly price their jewelry for resale. Attention is paid to how various costs -- materials, labor and overhead -- are calculated. A formula is provided which inter-relates these costs in order to calculate a price. Some discussion is presented about the differences in pricing strategy among retail-home studio, retail-store, wholesale, and consignment. In addition, the student is introducted to each stage of a comprehensive marketing strategy. Discussed are ways to introduce marketing into the student's own planning and selling processes. For more information, please visit our web-site at:
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| At the beginning of this class, the typical student should be able to do/know the following: | Basic addition, subtraction, multiplication, division |
| At the end of this class, the typical student should be able to achieve/accomplish/learn the following: | Calculate material, labor and overhead
costs associated with design/manufacturing of a piece of jewelry Apply a formula to calculate a fair minimum and maximum price Understand what kinds of design changes must be made, if a price is deemed either too low or too high. |
| Written Instructions Provided | YES |
| Finished Sample(s) Provided | n/a |
| Supply List |
Students should bring with them:
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| List of Required and Recommended Reading Provided | None |
| INSTRUCTOR(S): | Warren Feld |
| HOW OFTEN COURSE OFFERED | Once a Month |