Improvement to product. But should the price be higher? Retail Shops demand more..

[Deleted member 1779]

In an effort to improve our success rate with Retail (Plumbers merchants, tile outlets, builders merchants) we have revamped our best selling product the Bathroom Fitters Kit.

The New kit now comes with THREE sections.
1) Diamond Core Drills for small fixtures and fittings at 6mm and 8mm
2) Diamond Holesaws for service pipes at 16mm 30mm 40mm
3) A selection of tools. a) Anti-Slip Guide Plate. b) Dedicated Water Sponge c) Core Ejection Key.

The revamped pack (shown above) will contain the core ejection key inside the box holding the four small cores. The sponge will go at the back of the pack.

The packaging is now more descriptive so that Retailers can display the kits and the customer understands the full value of the pack.

Adding the sponge to the pack will allow us to claim a FULL system. In addition (and as a response to consumer feedback) the sponge contains its own set of instructions on how to use it. There was some issues that when the sponge was first seen the user did not know that it was a sponge! - Did not know that it had to be activated ! - Did not realise how it should be used ! To address this issue the sponge now carries its own instructions.

Adding the Allen Key allows the user to eject cores from the smaller drills and it allows us to claim the the pack contains a "tool kit" which is the guide plate, sponge and the allen key. Useful for maximising the content of the pack.

Hopefully the new layout will improve what we already know is a toolbox essential.

The reason we revamped this kit is because we are in serious talks with one of the UK's largest plumbers merchants and we want to do everything we can to ensure they are excited about the product.

Something our competitors were adding was a little water tank (which is useless!) but gave them "a total solution" something that was missing from our offering.

That ends the sales pitch! - Now I have some questions for you guys.

1) If we were to offer it online and raise the price from £49.99 to £54.99 would you consider it value for money ( £7.86 per drill instead of £7.15 per drill)

2) Should we offer BOTH kits online and let you choose?

3) Should we keep this as a retail only solution

4) Should we scrap the standard BFKMX

Should we scrap the £49.99 BFKMX and replace it with the BFKMX-plus

5) Have we missed any tricks in our march to retail here? At the moment the insert card is a prototype so we could add / change / delete things if they would help us sell in volume to the large chains.

I will let you know how we get on with our quest in the Autumn but retail is a slow painful process. I hope we have a solution for them that solves ALL their answers !

 

[Time's Ran Out]

Re: Improvement to product. But should the price be higher? Retail Shops demand more

I don't like the £49-99 price tag so £54-99 with the added extras is OK with me.
The ejection key and the sponge are good additions.
How does the anti slip guide work because mine tends to move.

 

[united]

Re: Improvement to product. But should the price be higher? Retail Shops demand more

£54.99 sounds like a good price to me

No need to keep the old pack as the new one offers better value and if you keep the old one I think it will confuse some people.

 

[Deleted member 1779]

Re: Improvement to product. But should the price be higher? Retail Shops demand more

How does the anti slip guide work because mine tends to move.

It works by pressure. If you find that its starting to slip then slow down the drilling and and apply more pressure to the guide plate.

 

[Deleted member 1779]

Re: Improvement to product. But should the price be higher? Retail Shops demand more

Hopefully everything is in that pack !

These are some shots of the new layout on the BACK of the pack

Full width photo showing the addition of the sponge.
New instructions with PICTURES as well as words
Barcode
Layout of the words now landscape instead of portrait.

Sponge is low profile letting us fit it to the existing clamshells without retooling

More visual instructions on "how to use" for those who cant be bothered to read

Hopefully these additions will make it a more rounded product with a greater appeal
to the retail chains.....

 

[faithhealer]

Re: Improvement to product. But should the price be higher? Retail Shops demand more

On a personal note Richard I never use the 6mm cores (not big enough for wall plugs) is it just me?

 

[Thespanishtiler]

Re: Improvement to product. But should the price be higher? Retail Shops demand more

On a personal note Richard I never use the 6mm cores (not big enough for wall plugs) is it just me?

I agree with the above ( i use the 6mm cores then open up with an 8mm just to use them up and get a bit more out of the 8mm cores)

also I know your product and how it works so all i want is the pack as cheap as possible ( loose in a jiffybag would do me)

and i have loads of sponges

that said its still good value for money

 

[Deleted member 1779]

Re: Improvement to product. But should the price be higher? Retail Shops demand more

On a personal note Richard I never use the 6mm cores (not big enough for wall plugs) is it just me?

I wish it were! On a personal note myself - we hate the 6mm cores because they are so fiddly to make. But customers DEMAND 6mm from us. We have a big enough battle to justify dropping 7mm (which is in fact really the old fashioned 1/4 inch)

The 6mm (Red Plugs) are one of our best selling lines in seperate sizes.

Sometimes you have to supply what is asked for - and not what you think the market wants. Ahh Well !

 

[Olz]

Re: Improvement to product. But should the price be higher? Retail Shops demand more

Not too sure mate, when I think £49.99 i think under £50, thats not expensive, but i think psychologically £50 or more sounds more expensive, I would think its over £50, (I know it is over £50 lol!!)

Do you get what I mean, its hard to put it across without stating the obvious, but £49.99 conjures up a cheaper image (becuase it is cheaper..lol), than something over £50.

Im going to give up now, becuase i cant really think of a way to put across my point..

To summarise, i would stick at £49.99 if you can do so with a decent profit margin, it feels cheaper, and seems like a less significant spend, even though its only a fiver or so difference.

My head hurts now, that was hard to explain. :dizzy2:

 

[hillhead]

Re: Improvement to product. But should the price be higher? Retail Shops demand more

18-20mm bits would be nice in the kit richard.
The new plus kit though sounds good,the extra fiver wouldn't matter i think as most peeps who buy will put it down against tax anyway.

 

[Aston]

Re: Improvement to product. But should the price be higher? Retail Shops demand more

rich

you aint gonna like this mate but i think £49-99 is tooooo expensive, so a price hike to £54 in a recession could really really damage your sales imo....after all your drill bits are meant to be for the budget end of the market so vast turnover is the key isnt it. the last thing you want to do is price these things out of their market...

ed

ps £29-99p is the perfect price for these drill bits...

 

[tommyzooom]

Re: Improvement to product. But should the price be higher? Retail Shops demand more

Not too sure mate, when I think £49.99 i think under £50, thats not expensive, but i think psychologically £50 or more sounds more expensive, I would think its over £50, (I know it is over £50 lol!!)

Do you get what I mean, its hard to put it across without stating the obvious, but £49.99 conjures up a cheaper image (becuase it is cheaper..lol), than something over £50.

Im going to give up now, becuase i cant really think of a way to put across my point..

To summarise, i would stick at £49.99 if you can do so with a decent profit margin, it feels cheaper, and seems like a less significant spend, even though its only a fiver or so difference.

I know what you mean Oli and would tend to agree,
also I never use the 6mm either, I always try and drill the tile slightly bigger than the wall plug. So if I were using 6mm plugs,I would drill the tile with an 8mm core bit, Then drill the wall with a 6mm masonry bit obviously, it puts the tile under less stress when the screw is inserted

 

[mikethetile]

Re: Improvement to product. But should the price be higher? Retail Shops demand more

run the plus as the starter/full kit and then offer the cheaper set as a replacement set of bits to top up the starter kit

the price on both kits is fine

 

[Deleted member 1779]

Re: Improvement to product. But should the price be higher? Retail Shops demand more

then offer the cheaper set as a replacement set of bits to top up the starter kit

Like it!

Yes the new kit could be the "full kit" and then the existing BFKMX would become just the replacement drills.....

 

[Colour Republic]

Re: Improvement to product. But should the price be higher? Retail Shops demand more

Like it!

Yes the new kit could be the "full kit" and then the existing BFKMX would become just the replacement drills.....

Not so sure myself, if I saw the 2 products racked together and noted the respective prices I would think that £5 extra (10% increase) for a sponge and an allen key was a bit expensive which may lead me to conclude that if you charge that for the sponge and key how over priced are the drills themselves?

I would be more inclined to keep it under the £50 mark and say "new and improved pack, now contains FREE sponge and ejection key" and split any losses with the retailer, times are hard for some. All depends how many extra packs will you sell because the new packs will now be stocked in new stores and how many sales will you lose because you've broken the £50 barrier??

Maybe offer it through the new stores at an introductory offer of £49.99 whilst swallowing the increase in cost per pack, then raise the price to £54.99 and see how it affects sales?

 

[Dan]

Re: Improvement to product. But should the price be higher? Retail Shops demand more

Not too sure mate, when I think £49.99 i think under £50, thats not expensive, but i think psychologically £50 or more sounds more expensive, I would think its over £50, (I know it is over £50 lol!!)

Do you get what I mean, its hard to put it across without stating the obvious, but £49.99 conjures up a cheaper image (becuase it is cheaper..lol), than something over £50.

Im going to give up now, becuase i cant really think of a way to put across my point..

To summarise, i would stick at £49.99 if you can do so with a decent profit margin, it feels cheaper, and seems like a less significant spend, even though its only a fiver or so difference.

My head hurts now, that was hard to explain. :dizzy2:

I totally understand what you mean and I'm sure richard does too.

I was told once to sellat 19.95 and not 19.99 because we're so used to associating 19.99 with 20 quid. When the penny less is meant to give the impression it's less than. So once we all got used to 19.99, pricing at 19.95 should have given the cheaper effect.

Probably more noticeable with cars that are not 19,950 and not 19.999 which you'd never see. It doesn't even feel like a number or a price when you associate it with a car. 😉

As for the product. Brilliant improvements. I'd either keep them both for a while to see if your existing buyers get used tot he 55 and start buying it, then scrap the normal older style product kit orrrrrr take the leap. I don't think I'd want to sell a product that's better than the last for the same price. It gives a feeling as though the last product wasn't right, when it was.

I think if you ever started to mix them up accidentally stocking both though, even just one in 100 or so, it could get annoying for you sorting out replacements or shipping just a sponge, a key and whatever the other thing was.


I've just read a few more replies (probably should have done beforehand) and I like the idea of introducing it at 49.99 for a while and then increasing the price in the future after an introductory period.

Though I don't like the feeling of 'new and improved product' because as I say, it was fine before. You're just making it appeal to a wider market and you haven't actually needed to improve anything as such. Just add more to the kit. And for that, surely you'd expect a price.

Now I'm contradicting myself. I see your issue R! 😀 😀

Swings and roundabouts mate I think.have a good think about where you'd want to be in 12months with the matter. And I think you'd probably want to end up with just the newer pack, and the higher price for it. So I think I'd take the plunge and go for it right from the off thinking about it like that. That is, if you can't swallow the slight difference in price loss and stick with under £50 if it is you think that's important. Which I think it could be, but I think people do and will get used to it. It's a very small part and cost of your average bathroom and I think that's what we've got to remember here, it's not a car.

 

[kaharrison9]

Re: Improvement to product. But should the price be higher? Retail Shops demand more

Have found these to be superb drills and that i've always got a great result from.
Though for me,not bothered on packaging,sponges,etc
Is it possible to have to 2 differant marketed packs one for the main public
and the other more of a cheaper no frills pack.
Would possibly tempt me then in to buying more other drill size bits i have not got.

 

[Daz]

Re: Improvement to product. But should the price be higher? Retail Shops demand more

You've had some great feedback Richard, so I won't try to replicate the details.
IMO, you have created a retail pack and a trade pack. Market them as such.

And just to agree with others, I never use the 6mm drills. 8mm and 10mm are more useful to me.

 

[CJ]

Re: Improvement to product. But should the price be higher? Retail Shops demand more

Can you do a heavier version of the drill guide Richard..........one slip, and thats another guide hole knackered.

They don't last that long

Oh..........and try if you can to keep below the £50 mark.