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Needs help on project


Tim_Lou
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im currently doing a project involves with a new simple invention...

 

my group decided to make a "toothbrush-toothpaste-mouthwash" combination...... something like an all-in-one thing for traveller....

 

im doing all the typing parts of it, including loans, factors of productions blablabal...

and i have to survey people for the price of it...

 

if you guys can just do me a favor.....

send a reply about the price of the product that you will buy it.

 

any help is appreciated : )

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Tim,

I just bought new toothbrushes for my munchkins. I paid about $5 each, for the generic electric Crest kind. Then add another $2 or so for each tube of toothpaste, and $3 for a bottle of Act, and that totals about $7.50 per child - a small price to pay when compared to the rising cost of good dental care!

 

If I could have bought one machine that would dispense toothpaste and Act in the correct amount, and also could be used for brushing, I would be willing to pay about $10 each. I'd be willing to go the extra few bucks just for the sake of the money I'd save on buying more toothpaste every week since my kids play with it more than they brush with it. But I watch my pennies, so maybe that's a little low for your project. Usually I find, when shopping, that if something is under $10 (even if that means $9.95), I have no problem putting it in my cart. As soon as it gets above $10, I have to actually think about it, and decide if it is worth it.

 

Please keep in mind that this is when I hit the local Wal-Mart, and does not apply at Best Buy or Circuit City, or ANY bookstore. But $10 seems to be my mental hurdle. If you can keep your gadget under $10, it would fit into my shopping cart.

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Hmmm......Toothbrush, toothpaste and mouthwash?

 

Well, if it's for travelors, you might market a product like that through vending machines in hotel lobies that dispense varrious toiletries for about $2 - $3.00 per package, that is just about enough for a two night stay;

 

Or you could make the quantity slightly larger, include a reletively nice looking plastic case that is small enough to fit in a larger toiletry bag without taking up too much space, or market it as something capeable of being the only thing necessary to bring with you, other than your razor - Hey, you could even put one of those in there (make it a twin blade)!

 

It's all in the marketing. Make people wonder how they ever got along without one, then charge a mere $9.95! - Buy two and save! - Give one as a gift! You get two, count em', two "Mouth management systems" for ony $19.95! (That's actually not a savings, but hey, more for you)!

 

And if you call right now we'll upgrade your carrying case to our limited supply of simulated paten leather!

 

And thats not all (crowd cheers in amazement in the backround!) - ....

 

You get the picture. - Soon to be on your local cable channel as an hour long infomercial.

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I come from Switzerland and here everything is expensive, adding to that I don't know the actual value of a dollar in swiss francs so I just write you the price I would pay in swiss francs and then if you really need the data you look it up.

 

What is imposrtant to me is how long it lasts, how big it is and how heavy. Let's say it has the same life span as a normal toothbrush, it is just a little bigger and heavier. Then I would pay aroun 25 Francs.

If it would last a shorter time,, or be quite heavy or.... then I would pay much less.

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ok, i have one of those Crest electic brushes, here in CT they cost around $7, toothpaste is about another $3-5, and mothwash is about another $5. Now, thats for a 500ml of mouthwash, and a 6 ounce tube of toothpaste. For a traveler, that is way too much and you only need like a tenth of the amount or even less, so i went back to froogle and searched for a .85oz tubes and came up with these numbers: for $106 you can buy a box of 240 so $106/240 is about $.67 each (http://www.restockit.com/index.asp?PageAction=VIEWPROD&ProdID=18369&c1=directory&source=froogle&kw=30501PG). I also went and did some research on mothwash and found that you can buy 160 1.5 oz scope bottles for $90 bringing the cost for each to about $.57(http://www.restockit.com/index.asp?PageAction=VIEWPROD&ProdID=18367&c1=directory&source=froogle&kw=05112PG). And finally the brush, although i couldnt find any packages of more than 12, one is sold for about $5 on froogle. In the end, you are looking at the cost for you of about $6.24 per unit, add a 20% markup, about $7.48 or between 7 and 7.50 dollars ballpark... (and thats enough to last you for a few days)

(edit: accidentally mistyped one of the numbers that totally screwed up my calculations...)

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I just bought new toothbrushes for my munchkins. I paid about $5 each, for the generic electric Crest kind. Then add another $2 or so for each tube of toothpaste, and $3 for a bottle of Act, and that totals about $7.50 per child

 

In the end, you are looking at the cost for you of about $6.24 per unit, add a 20% markup, about $7.48 or between 7 and 7.50 dollars ballpark...

 

Wow! That's pretty close, huh? And I didn't even have to buy the box of 160 little bottles of Scope.

 

Seriously though, it's kinda cool that we came up with about the same figure, huh? Of course, you were much more scientific, while I just looked at my grocery bill. It's kinda cool that we are here (Hypography), and there are people that approach problems from totally different directions, yet can still come to a general concensus on an answer. I really think that's awesome.

 

Tim, you'll have to keep us updated on the status of your project, ok?

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Oh, that is cool, now how come i didn't notice it? I read your response twice too IrishEyes, but i didn't realize that i came up with a number close to yours. Its definately cool!

oh and i didnt spend hours on the net trying to come up with the numbers, i just froogled for it and 5 minutes later got the data...

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Tim seems to have figured out how to let our group do his homework for him. This is perhaps the 3rd or 4th time I can think of.

 

Boy I wish this was around "back in the day!".

 

Good thinking Tim.

 

Anyway, I think setting price depends on many factors. How large of a market share do you want? Are you going after the mass market? Is Qty sold the determining factor? Or will you go after the impulse/ gimic purchaser? You mention "for the traveller". Many slightly pricier, gimmickier items are sold at places like gift shops in airports. You can charge more, make more per unit, but impulse marketing becomes the key, more than product. Then of course there is the luxury product group. The well healed traveller will pay more for something that solves a need, rather than saves them money. Cost is far less of an objective than functionality and even uniqueness.

 

One approach would be an all in one, one use product. Open a sealed package, toothpaste already in the brush along with mouthwash. Brush and toss, like disposable razors. Keep it under $5. Under $2 for large volume.

 

Reusable? Perhaps replacable heads. Base unit cost under $5-10, Higher price for nice carrying case, replacement one use heads multi-unit packs (2-5 per package?) at $.50 per use?

 

But the well healed traveller would pay easily $25- 75. Made of quality materials. Rubber grip. Rechargable. travel kit.

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"Tim seems to have figured out how to let our group do his homework for him. This is perhaps the 3rd or 4th time I can think of."

 

anyway.... you never know which question on hypography is for homework and which is on personal knowing... : )

 

doing my project right now... its such a pain.

 

and yeah... i am mass producing, having a huge factory... (that way i can have more to write on the project)

 

the final price is $9.99, i think its pretty fair... however, i'll set the beginning price to 7.99 to attract mroe customers.

 

"One approach would be an all in one, one use product. Open a sealed package, toothpaste already in the brush along with mouthwash. Brush and toss, like disposable razors. Keep it under $5. Under $2 for large volume. "

hmm, disposable package? good idea! it will be easier to make a prototype. too bad, the product is already set, cant change it.

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