Quiz 11: Pricing Strategies: Additional Considerations
A familiar clothing store is shoppers stop. Shoppers stop consists of following product mix: • Women. • Men. • Fragrance, travel and home. • Kids. Width is the total number of different product lines offered by shopper stop: Men section: • Men apparel. • Men accessories. Women section: • Women apparel. • Women accessories. Depth is the no of different products offered by the shoppers stop in its product line: Women apparel: • Winter wear. • Shirts. • Bottom wear. • Co-ordinated Set. • Jeans. • Ready to Stitch. • Dresses. • Lingerie. • Skirts. • Night wear. Women accessories: • Handbags. • Fashion Jewellery. • Writing Instruments. • Sunglasses. • Watches. • Socks. Men apparel: • Shirts. • Trousers. • Jeans. • T-shirts Polos. • Kurta, Pyjamas Stoles. • Ties. • Innerwear. • Winter wear. Men accessories: • Watches. • Writing Instruments. • Belts. • Sunglasses. • Wallets. • Cufflinks. • Footwear. • Socks.
WH is a leading chain of world class hotels. The company offers distinct experiential benefits to its various segments of customers. Experiential benefits enhance the satisfaction level by making the shopping experience memorable for the customer. Such factors include personalization, luxurious experience offered at the showroom, made-to-order product to match the product with the customer's personality, etc. For example; a high end wrist watch brand offers coffee lounge, designer furniture and interiors of the showroom, a personalized service card to its customers. The customer may also receive greetings on special days like birthday or anniversary to enhance customer experience with the brand. Following below are the different experiential benefits offered to different segments by WH: • Economy hotels of WH offer 'family-friendly environment, and a classic hotel at a reasonable price' benefits to travelers and families. This offers routine travelers to have a classic hotel experience at an affordable price. • The upscale hotels of WH in New York offer sensual feel in the entire hotel and rooms to serve young and upscale customers. This offers an elite, prestigious and sexy feel inside the hotel and being treated to chic eateries and surroundings. • In big cities, the hotel ensures to match up with the local environment by adding modern and historical designs inside the hotel. This helps the customer have the feel of city inside the hotel as well. Thus, WH maintains a balance of varied symbolic and experiential offerings to its customers.
Tangible and intangible attributes of a pair of athletic shoes are as follows: Tangible benefits: • Helps in improving personality • Reduced prices • Time reduction in walking • Faster walking Intangible benefits: • Fitness • Comfort • Prestige in wearing Nike shoes • Flexibility • Provides fresh air Intangible benefits of products such as hairstyling in a salon • Operational efficiency • Brand reputation • New market opportunities