Tag Archives: Pricing

Marketing for Artists – The Four P’s + Free Worksheets

Girl Shelling Peas by Winslow Homer

P’s are not just for shelling – they are great way to look at your marketing activities!

Next to creating your art, the most important function in your art business is marketing. If you are not concerned about marketing then you are more likely just pursuing your passion or engaging in a hobby. If you are looking to grow your brand, expand your markets and make money, then marketing should be on your list of business skills to master.

What is marketing?

There are a lot of ways to look at a subject or concept and marketing is no different. People confuse marketing with sales or marketing with advertising. Marketing is a broad concept that encompasses much more.

According to the American Marketing Association, “Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large “ While this is certainly a comprehensive definition what does it really mean?

The Four P’s of marketing

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Art Marketing – The Pricing Part of the 4P’s – Pricing Strategies

Place your art products on the grid to identify your pricing strategy

Place your art products on the grid to identify your pricing strategy

If you are following this series of articles on the basics of Art Marketing you already know that a traditional way to describe marketing is called the Four P’s. The Four P’s are: Product, Price, Place (Distribution) and Promotion.  In the first article on pricing Art Marketing – The Pricing Part of the 4P’s – The Basics we took a look at the basics of pricing your art to give you some food for thought to answer the question – “What should I charge for my art?”  In this article on Price we will explore various pricing strategies and how you might use them in your art business.

Pricing Strategies

Your pricing strategy is not monolithic. You may have different pricing strategies for the various products you produce. These pricing strategies may vary by market served, product attributes such as size and quality or where you are in your product (art) lifecycle.

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Art Marketing – The Pricing Part of the 4P’s – The Basics

How much is this piece of art?

How much is this piece of art?

If you are following this series of articles on the basics of Art Marketing you already know that a traditional way to describe marketing is called the Four P’s. The Four P’s are: Product, Price, Place (Distribution) and Promotion. In this article we will take a look at the basics of pricing your art and give you some food for thought to answer the question – “What should I charge for my art?” In the next article on Price we will explore various pricing strategies and how you might use them in your art business.

Pricing Basics

One of the many decisions you will face in running your art or creative business is how to price your products or services. In strict economic terms, price is the amount paid in exchange for goods or services. You may start with an asking price and settle with the true or exchange price if you are in to bargaining. There is an assumption that the final price paid is equal in value to the goods received.

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Promotions For Artists – Give Your Art Business A Boost!

The purpose of a sales promotion can be to sell more to existing customers or attract new customers. You can have sales promotions directed at consumers or to others in your distribution chain such as retailers, agents or wholesale distributors. Sales promotions by their nature are limited in duration and try to create a sense of urgency and possibly scarcity. Some reasons for having a sales promotion include:

  • Introduce new products
  • Reduce slow moving items in inventory
  • Sell seasonal items
  • Increase the average sale per customer or customer visit
  • Quickly sell items that are one time inventory purchases
  • Reward your customers
  • Expand your customer base

There are a million ideas on conducting a sales promotion, some are very good and some not so good. When you are developing a sales promotion you need to keep your brand in mind and how the promotion will affect it now and in the future. Develop promotions that fit with your customer’s tastes and demographics.

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