Gloria Jeans Essay

Gloria Jeans is well known due to it is made by light speed% natural ingredients which include home-made cookies, muffins, and any other sweet desserts.1) EconomyThe point here is that Gloria Jeans can not set a price that is too high because competitors exit be attracted by potential acquire and will follow by a lower price. After having taken all the important factors into consideration, on that point are five-price fixing approaches seem appropriate.1.Cost Based pricingOne of the centred objectives of this project being to become the market leader in functional drinks, Gloria Jeans is willing to stay among the top competitors if not becoming the greater by achieving a certain target profit this could be obtained by establish a price that will commodiously cover variable and fixed costs while bringing tremendous profits2.Value Added setCompetitors and potential substitutes prices can also be part of the strategy. Having a higher price could absorb customers witting of the additional benefits and the higher quality of burnt umber berry. 3.Value based pricingThe company sets its target price based on customer perceptions of the product abide by. The targeted value and price then drive decision about product design and what cost can be incurred. As a result of pricing begin with analysing consumer needs and value perceptions and price is set to match consumer perceived value. 4.Market Penetration PricingThe company can set a low price for a new product in order to attractive a large number of buyers and a large market share. 5.Break-even PricingThe company has to make some strategies for lead-even prices, setting prices to break even on the cost of making and marketing a product or setting prices to make a target profit. According to the report of Su, Chiou and Chang (2006), the case study of Starbucks coffee displayed that Western culture idolization can influence the coffee consumption of Taiwan. Kim (2002),point at consumer behavior have signif icant influenced by theproduct-of-origin and send image. Hao(1998), states that superior score has become the most important element to enhance value-added products and it also is a strategy. The brand image and product-of-origin would important factors, they would provide insights on cross-culture marketing.4 DemographicsAccording to the survey, women more desire to drink coffee than men (Jones, 2006).There is no significant difference between two groups of people. Coffees are all thousands of years ranging from adults or even older. Its hard to resist the appeal of Coffee, and there is great opportunity to tea increment up. In addition, the social behaviour are one of the factors segmented coffee products in the market Because of contrastive group has different demand for their need and wants. The high salary people may more focalize on their healthy or willing to pay higher prices.3 Political and lawfulDoing coffee business there is no risky for the company because of it do es not related any political and legal