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What’s Your Price?

What’s Your Price?. Feline Gondokusumo Stephanie Yee-Ming Hung Rohan Ishwarlal Philson Nah Tay Qing Lun. SweetRiot. Humane, globally responsible and built for a new generation. Premium, high quality, and all-natural ingredients. Believes in fair trade with developing countries.

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What’s Your Price?

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  1. What’s 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. Kriser’s • 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 company’s ranged from $2.99 - $7.99 Endline priced her one-ounce tins of chocolate cacao beans at $4.99 Kriser’s • 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

  9. Example - Lyn Gaylord accessories “ I priced too cheaply and people weren’t sure my belts were special.” – Gaylord

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

  11. SweetRiot’s 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. SweetRiot’s 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. FOR YOUR PET'S ALL-NATURAL LIFE Question 2: Kriser’s Pet Supplies Suggested pricing strategies How to implement them

  14. Kriser’s 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. Kriser’s 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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