Find a basic dress pattern online. For this exercise, choose a simple design that you could add elements to. Then, go to your local fabric or sewing store and price out what you would need to make three different versions of the dress using the listing on the pattern as a guideline. You can also price materials online.
Create one version of the dress that is as inexpensive as you can make it. Checking the bargain bin or sale rack might help you create the dress very cheaply. List the cost of each item and where you found it (i.e. internet, local store, etc.). In a paragraph, describe the version of the dress that you can create for as little cost as possible and how you kept costs down.
Next, choose a moderate version of the dress—use a nicer fabric, add some accessories, make the dress longer, etc. Price out your slightly enhanced version of the dress. List the cost of each item and where you found it (i.e. internet, local store, etc.). In a paragraph, explain the choices you made when thinking about how to improve it based on the low-cost version.
Finally, design the upscale version of the dress. Here you can be creative and build the nicest version of the dress you can imagine. You can also include additional accessories or alter the design for this version. List the cost of each item and where you found it (i.e. internet, local store, etc.).When you are done, write a paragraph that explains the choices you made and how they impacted the cost.
When you have priced out three distinct versions, write a paragraph explaining which you would choose if you had been tasked to mass produce the dress for a wide market. Explain why you feel that the dress would sell and suggest a price. Remember, labor is going to be a cost as well. This can be complicated to calculate, so for these purposes assume that it will be 30 percent of the cost of materials. Price the dress as if you wanted a profit of 20 percent. So, if your materials cost $50, you would need to add $15 (30 percent), making the cost of production $65. A 20-percent profit would require an additional $13, making the total cost of the dress $78. Once you have calculated the cost of the dress, explain where you would sell the dress, who your target audience would be, and where one could wear the dress.