Price

Pricing could be everything for a business. a customer may really want an item, but it might be too expensive; however, if the item is too cheap then the customer might think to themselves, "There must be something wrong with it for it to be so cheap." For most purchases, consumers don’t have all the skill or information they need to figure out whether they are paying a good price. They don’t have the time, ability, or inclination to research different brands or stores, compare prices, and get the best deals. Instead, they may rely on certain cues that signal whether a price is high or low. Interestingly, such pricing cues are often provided by sellers, in the form of sales signs, price-matching guarantees, loss-leader pricing, and other helpful hints.9 Pricing Understanding and Capturing Customer ... (page 42 of 59) The founders of Fresh Fruit and Juice deliberated the prices, as well as our goal to supply a well-priced, quick snack that people will buy, very carefully. For the large fruit bowls Fresh Fruits and Juice decided $5.00 might be too much, but $3.00 might be too little and would fit the small bowl choice better. Fresh Fruits and Juice decided it was best to mark the large fruit bowls as $4.00 each and the small fruit bowls $3.00. The customers at Fresh Fruit and Juice may very well want some topping or dipping for their fruits. The dipping/toppings at the Fresh Fruit and Juice are priced $.50 for the small fruit bowl and $1.00 for the large fruit bowls. After deciding the prices for the fruit bowls it was time for the employees at Fresh Fruit and Juice to decide the ounce size of the three available cup sizes and how much they would be priced at. The three different sizes of the fresh fruit blended drinks are large, 24 ounces; medium, 16 ounces; and finally small, 12 ounces. The small fresh fruit blended drink at Fresh Fruit and Juice is marked at $1.50, the medium is marked at an even $2.00, and last but not least, the large is worth $2.50. Here at Fresh Fruit and Juice, we have decided these prices are the right ones that fulfill our goals as a company.