Wednesday, September 2, 2015

Price

For what I am offering I do not anticipate having very high prices. With it being a pop up, it's not an extremely elegant dining experience. Burgers are normally around $5 each and $7 for a full meal. Some ingredients may cost more than others so those will obviously more expensive than others. Unlike Whole Foods, I don't want to overcharge my customers. "Kroger uses the data mining results, augmented with customer interviews, to guide strategies for tailored promotions, pricing, placement, and even stocking variations from store to store. Kroger says individual treatment builds loyalty by creating more value for customers and making them feel more appreciated. " We all plan to keep our customers, so I ask for a lot of feedback from those that come to eat at my pop up. "We continue your marketing journey with a look at a second major marketing mix tool—pricing. If effective product development, promotion, and distribution sow the seeds of business success, effective pricing is the harvest. Firms successful at creating customer value with the other marketing mix activities must still capture some of this value in the prices they earn."

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