Today both in class and out of class I have been doing research.
One of the most important parts of my products if finding out a price so that I
can begin to gage the financials ((income/revenue, cost (fixed & variable).
Also finding out the price to make it and the price to possibly make it while
outsourcing will help me determine if this product will/ could be manufactured
for 20% of the retail price. Therefore, if this company could be profitable. I
am starting my research with: Sweat heart, Dart, International paper, and Smart
lid to help gage a possible price range for manufacturing this cup lid. For the
most part, I want to focus my week on calling small manufacturing companies and
Co Op manufacturing plants to a price for production as well as to price a possible
prototype. I also am hoping to contact Mr. Stone who is on the head of the
Lawrence Academy Board of Trusties (stone athletic center) who has become a multi-millionaire
in the plastic industry. I am hoping to try and talk to him later down the road
when my product becomes more concrete.
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