Sorry to disappoint you, this is not the sale section.
At Team Crafty we try not to have sales because we try to bring the Crafty Nation value for money.
As the Financial Director, I’m the guy who crunchies all the numbers and looks at pricing from two perspectives.
The first is as the FD. Obviously, we need to make some profit, we are a business after all, and we have suppliers to pay and overheads to cover. I’m sure we can all agree that if a business does not make some profit, they won’t be in business for very long.
I look at what we are being charged by suppliers and if they are giving us value for money on their product. Many of our products are more expensive than the pricing you see in supermarkets, but then hopefully you won’t see any of our products in supermarkets.
I don’t try and squeeze every penny out of our suppliers because they too have a business to run and many of them are small batch producers. Whenever possible we work together with them on pricing so that nobody is knowingly under-priced.
So, I have our proposed selling price or recommended selling price (RSP), and now I look at it from the customers perspective.
Let’s use Teremana Tequila by Dwayne “The Rock” Johnson as an example.
Teremana Tequila Blanco
Teremana Small Batch Tequila created in a small town in the highlands of Jalisco, Mexico. Founder Dwayne “The Rock” Johnson worked with a Mexican family-owned distillery to build a unique home on the grounds solely for Teremana – Destilería Teremana de Agave. Here they craft with a love for great tequila made the right way, in small batches, by hand.
Teremana Blanco is made from ripe agaves harvested then roasted in traditional brick ovens for 3 days. After shredding, the agaves are fermented in an open tank and then distilled in copper pot stills. The name means “spirit of the earth”–TERE from the Latin word for “earth” and MANA from the Polynesian word for “spirit.” Teremana Blanco Tequila is bottled without aging.
Would I pay £54.99 for a 70cl bottle of Tequila just because some celebrity name is attached to it? What makes it worth the hefty price tag.
- First and foremost, is this a readily available product in the UK? The answer to this is no because it’s imported from the USA as it has not officially launched in the UK. This process brings with it additional costs such as shipping, currency exchange, import tax and of course an international supplier’s price.
- Is this product any good or are we just buying it because it was produced by The Rock? Simple answer is yes, it’s one of the best, smooth sipping tequila’s I have ever tasted.
- Will our customers like it? Yes, many people’s experience of tequila has been a low-quality product which is usually slammed! We tell our customers how this tequila is produced, the quality ingredients that make it such a special tequila, the fact that it is a tequila and not a mezcal. We give you the whole story.
- Will our customers feel that they have received value for money in purchasing a bottle of Teremana? Hell yes!
It’s not about pricing just for the sake of pricing. Our aim at Crafty has and always will be bringing different products to consumers at the best affordable prices.