What You Need to Know Before You Launch

Price is one of the integral deciding factors that customers consider while making a purchase. When you are positioning your product in a new market, the best and most used marketing strategy “the marketing mix” is often used for launching the product.

Factors to Consider While Pricing Your Print-on-Demand Product (Using the 5 Ps’ of the Marketing Mix)

The 5 Ps’ in the marketing mix stand for Product, Price, Place, People and Promotion and thus, you must make an informed decision about the price to ensure that your launch is a success.

According to a recent survey, Print-on-demand is a growing market and has been seeing higher adaptability due to which the market will observe a CAGR of 26.1% from 2022 to 2030 (Source). The reason for such significant growth is that people are looking out for custom and exclusive products in the market and are also willing to pay a premium for exclusive merchandise.

But, how can you determine whether you have priced your product that justifies the quality and yet provides optimum value for money to the customers to make it affordable? Well, there are many different factors that you have to consider while determining the price of a custom print-on-demand product.

While each market is different and so are the target customers, the 5 Ps of the marketing mix are the points that you keep in mind while determining the price and we have listed the factors as a part of this 5 Ps to give you a checklist to follow.

1. Product

The print-on-demand market is segmented into print-on-demand software and print-on-demand service. The platforms that provide drop-shipping services or end-to-end fulfillment of products are segmented under the service category.

The online design-making tools or platforms providing APIs and integrated software solutions are the second segment. This segment has seen high adaptability by…