What’s Your Price? Feline Gondokusumo

Stephanie Yee-Ming HungRohan 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.

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

Kriser’s

All Natural Products

Bulk of sales come from dog grooming services

Other products & services include: Pet food Skin-care products Blueberry facials

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

Question 1 Why Underprice? Connection between price and company image

Why underprice?

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

Product Life Cycle

Price conveys Image H

igh

Pri

ces • Good Quality

• Differentiating factor

• Competitive advantage

• Exclusive Avera

ge P

rice

s • Common product

• Hard to differentiate

• Run-of-the-mill Low

Pri

ces • Low Quality

• Low perceived value

• Defective product

“ I priced too cheaply and people weren’t sure my belts were special.” – Gaylord

Example - Lyn Gaylord accessories

Question 2: SweetRiot Suggested pricing strategies How to implement them

SweetRiot’s Pricing Strategy

Engage in price liningImpact: Target a wider group of consumers Increase sales while maintaining premium image Increased revenue and profit margin

SweetRiot’s Pricing Strategy

Introduce a loyalty programImpact: Cultivates customer loyalty – returning customers Encourage greater spending – to accumulate points Increased sales without directly reducing prices

Question 2: Kriser’s Pet Supplies Suggested pricing strategies How to implement them

FOR YOUR PET'S ALL-NATURAL LIFE

Kriser’s Pricing Strategy

Stop market penetration strategy

Engage in price liningImpact: Gloss issue with underpricing Target different consumers Increased revenue and profit margin

Discount strategy using loyalty programImpact: Develop customer loyalty – customers spread good word Customers buy more Increased revenue with more customers

Kriser’s Pricing Strategy

Bundling of dog-grooming services and pet suppliesImpact: Increase perceived value of services and products Bind customers to dog grooming services Increase consumption of services Increased revenue and profit margin

Odd pricingImpact: Efficacy is in doubt – but no harm trying Possibly increase revenue and profit margin

Do you have any questions?