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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
What’s Your Price?

Feline Gondokusumo

Stephanie Yee-Ming Hung

Rohan Ishwarlal

Philson Nah

Tay Qing Lun

sweetriot
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
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
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

Question 1

Why Underprice?

Connection between price and company image

why underprice
Why underprice?
  • Market penetration pricing to achieve:
    • Competitive advantage
    • Gain market share/acceptance
    • Higher sales volume
slide9

Example - Lyn Gaylord accessories

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

question 2 sweetriot

Question 2: SweetRiot

Suggested pricing strategies

How to implement them

sweetriot s pricing strategy
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
sweetriot s pricing strategy1
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
question 2 kriser s pet supplies

FOR YOUR PET\'S ALL-NATURAL LIFE

Question 2: Kriser’s Pet Supplies

Suggested pricing strategies

How to implement them

kriser s pricing strategy
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
kriser s pricing strategy1
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
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