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Whats Your Price? Feline Gondokusumo Stephanie Yee-Ming Hung Rohan Ishwarlal Philson Nah Tay Qing Lun.

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Presentation on theme: "Whats Your Price? Feline Gondokusumo Stephanie Yee-Ming Hung Rohan Ishwarlal Philson Nah Tay Qing Lun."— Presentation transcript:

1 Whats Your Price? Feline Gondokusumo Stephanie Yee-Ming Hung Rohan Ishwarlal Philson Nah Tay Qing Lun

2 SweetRiot Humane, globally responsible and built for a new generation. Premium, high quality, and all-natural ingredients. Believes in fair trade with developing countries. Celebrates culture and diversity through our products. Creates sweet experiences for our customers, partners and employees. Young at heart, energetic, down-to-earth and contribute to the greater good

3 Krisers All Natural Products Bulk of sales come from dog grooming services Other products & services include: Pet food Skin-care products Blueberry facials

4 Current Pricing Strategies Sweetriot Premium chocolates: prices of other companys ranged from $ $7.99 Endline priced her one- ounce tins of chocolate cacao beans at $4.99 Krisers Set dog grooming prices at $46 Noticeably lower than other pet groomers

5 Question 1 Why Underprice? Connection between price and company image

6 Why underprice? Market penetration pricing to achieve: Competitive advantage Gain market share/acceptance Higher sales volume

7 Product Life Cycle

8 Price conveys Image High Prices Good Quality Differentiating factor Competitive advantage Exclusive Average Prices Common product Hard to differentiate Run-of-the-mill Low Prices Low Quality Low perceived value Defective product

9 I priced too cheaply and people werent sure my belts were special. – Gaylord Example - Lyn Gaylord accessories

10 Question 2:SweetRiot Suggested pricing strategies How to implement them

11 SweetRiots Pricing Strategy Engage in price lining Impact: Target a wider group of consumers Increase sales while maintaining premium image Increased revenue and profit margin

12 SweetRiots Pricing Strategy Introduce a loyalty program Impact: Cultivates customer loyalty – returning customers Encourage greater spending – to accumulate points Increased sales without directly reducing prices

13 Question 2:Krisers Pet Supplies Suggested pricing strategies How to implement them FOR YOUR PET'S ALL-NATURAL LIFE

14 Krisers Pricing Strategy Stop market penetration strategy Engage in price lining Impact: Gloss issue with underpricing Target different consumers Increased revenue and profit margin Discount strategy using loyalty program Impact: Develop customer loyalty – customers spread good word Customers buy more Increased revenue with more customers

15 Krisers Pricing Strategy Bundling of dog-grooming services and pet supplies Impact: Increase perceived value of services and products Bind customers to dog grooming services Increase consumption of services Increased revenue and profit margin Odd pricing Impact: Efficacy is in doubt – but no harm trying Possibly increase revenue and profit margin

16 Do you have any questions?


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