Personally I don’t like the word ‘cheap‘ when referring to the price of something. Which is exactly why if directly asked the question – Do you offer Cheap School Recordings, the answer is always no. However, before you all run to the hills thinking our recordings must therefore be the opposite, I will say this. What I do look for, is ‘Good Value’, ‘Competitively Priced’ and ‘Affordable’. Without wishing to sound pedantic, to my mind there is a huge difference between Cheap and Good Value.
Ultimately the purpose of this post is not to split hairs on the definitions of cheap, affordable or competitive. I’m well aware that some people might say it’s all basically the same thing. We simply don’t want to pay too much for a particular product of service.
Define Value for Money
When it comes to the price or cost of an item, there will be probably a bigger split of opinion than is currently being shown in relation to Brexit. Everyone has their own concept of what is affordable and this view is likely to vary wildly depending on who you speak to. Today we live in a society of choice. Even the price of a loaf of bread varies wildly depending on your choice of supermarket, bakery or indeed whether you bake your own.
There was a somewhat awkward moment for David Cameron when he was being interviewing on LBC a few years ago and couldn’t answer the question, how much is a loaf of value bread. His answer was ‘somewhere north of a pound’. TO be honest, from what I can see, most loaves of bread are a little over £1, although apparently a ‘value loaf’ certainly a few years ago was 47p.
It then transpired that David Cameron prefers to make all his own bread in a Panasonic Bread maker using some ‘Cotswold Crunch’ which is a flour made in his own constituency.
I’m certainly not about to turn this into a political debate – there’s enough of that going on as it is! The point is, everyone has their own preferences and ideas about what is affordable and value for money. Just sticking with the bread analogy for the moment. There will be plenty of people who think a value loaf is perfectly good for toast in the morning or making sandwiches to take to work. Other’s may, like David Cameron, prefer to make their own. And yet more people might say they only like the bread from certain brands or believe you have to pay ‘well north of a pound’ to get a decent loaf.
How do you achieve value for money?
In our business of school recordings, we only really have the one main product to offer. As such it’s not really possible to offer different priced versions of the ‘same thing’. Consequently the only way we can appeal to as broad a market as possible, is to ensure that our product offering gives all our customers value for money.
We achieve this, or at least aim to achieve this, by putting together a package which enables schools to make a small profit from sales of CDs or digital albums. By following the all inclusive route to the end price we hope that it’s clear exactly what costs are involved and, more importantly, just how much your school can make from selling a CD or digital album.
In the main, obviously depending on the size of your school, most Primary Schools will purchase 200 CDs from us. Based on current pricing, and assuming all discs are sold at a sales price of £10, this will make a tidy £1000 profit for your school. On the basis that we do not charge anything up front for the recordings and, even without the fundraising element, the pupils have a great time recording, we like to hope this represents value for the schools.