HST 210 Lecture Notes - Lecture 4: Holt Renfrew, Delicatessen, Canadian Tire

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The retail price charged for the items you have brought into your store, logistically heandled and taken ownership of (in most cases) Less profitability means less reinvestment in your business. People felt that they had to compromise in order to get what they wanted. In order to keep the price down they sized it down. That way, people would be tempted to upgrade for a larger size; they"d compromise. Pricing has the potential to be very damaging to your business if you get it wrong. It denotes positioning (holt renfrew targets high-class clientele; has high prices), so if you price wrong for the market your positioning your business for, you lose business. The quantitative value that consumer is willing to pay for a product. If it"s greater than 1, you receive value. In this way, shopping is a psychological benefit. You can"t do pricing in a retail market without understanding your customers.

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