pricing & costing

Need some feedback on how you do your costing and pricing for your cakes. Sometime I feel I overprice my cake and other times its underpriced, just cant seem to get the balance.

Appreciate your feedbacks.
jue

Me too, I would love some advice

I have been asked this topic many times and I have given my answers based on how I would calculate my pricing, a fair pricing, with reference to a book that was published by the Mom For Mom group ( a Malaysian publication).

I could share this information this saturday during the MCDC Meet if Jo gives the green light and if we have time for it.

To Jue & Essmat, no worry coz I will share it with you too but I am now in Singapore and the book is at home. So I will share it after I am back okay .. hope there is no urgency at your end else I will not sleep tonite and have to surf the net for the book title etc

Thanks Najat. Appreciate that.

Same dilema with me. Usually over/undercharge.

Hmmmm.... is it reasonable if I charge my customer RM75 for 8 inch birthday cake decorate with buttercream & edible image???

kak najat i hope Jo give green light too. Coz i think i underchange ppl alot.

Count me in too. Need to learn a lot about pricing. I always undercharge. I have one kind of fear when it comes to charging.

Applemint... same with me.... Always undercharge my customer because always got the 'perasaan kesian' especially if the order comes from my friends....

I need this! but i can't come on Saturday..could you post it Kak Najat? I too have a big fear when it comes to charging ..then when i say the price the customer said why do u price it soo cheap..then it will haunt me for a few days..urgh!!..HELP needed from Sifus

Thanks!!

Same goes to me Shaprincess. But the edible image has already cost us RM18 (exclude delivery charges). Then what to do?

Hi all... i am also facing the same dilemma ;( ....

Najat - hope that you can share the info here as i cannot make it to the meet up tis sat .... Can ??

I guess there is more ways to pricing an item. Many people refer to cost-based pricing. There are also value-based which is more subjective. Different people have different values...so if you happen to meet what they value, then they will pay for the value of the product. What do you all think?

I actually received many PMs from members on how I price my cakes and I have answered MANY TIMES OK, I know many wants to find out the ways and means to price your cakes but since we start at 3pm and unlike the previous meets, we actually have 2 main agenda this time, i.e. talk by Dr Aliza Jamaluddin and demonstration by Yoke Moy, I do not wish to hold up everybody especially when it is a Sat. Can we have the sharing by Najat the next meet, i.e. 12th Dec, 3pm (Sat). We will have another session on cookie decorating too. Please block your diary now girls.

OH? any ideas to share here?

You know, I once charged RM90 for a set of cupcakes and felt guilty, wondering if I had overpriced, and the customer went "Wah, this is soooooo cheap!!!" and asked again if I was sure of the price. She said she had paid almost triple the price for something similar. I guess this is the 'high value' kind of customer. I felt good that I didn't overcharge but at the same time (yes, must be the devil in me), was thinking "Hmmmmm ... I could have charged more and she would still say "waaaaah so cheap"!

Yet, another person went "Aiyoo ...... terlebih budget lah" when I quoted the same price.

Pricing dilemma, definitely!