Pricing Strategy: Puto Bombers

PRICING STRATEGY Customers’ willingness to buy: It is important for the sellers to identify the extent to which the buyers are willing to buy the product and the amount at which they are going to pay the same. From the survey conducted, the customers’ willingness to buy the Puto Bomber is ¬¬¬¬¬¬93% and the amount they are willing to spend for it is less than 25.00. The information from the survey will enable the sellers to determine the possible number of Puto Bombers to be produced as well as the price at which these will be sold. Setting of the price: The price should be set considering two important factors --- the product’s costs and the seller’s desired profit or gain. The figures obtained from the survey regarding the price at which

Thus, the sellers should set a strategy that will effectively define the product and introduce it to the potential buyers. Promoting means developing product recognition. Promotion aims to present the product to the target market in such a way that their attention will be captured and be encouraged to patronize the product. There are many ways of promoting a product such as through TV advertisements, newspaper publications and social media. Before coming up with best strategy possible, factors should be carefully considered such as the cost and other expenses to be incurred. In promoting its product, the researchers decided to use pamphlets and posters in disseminating information about Puto Bomber. The materials will contain full information about the product such as its name, location, price, available flavors, and the contact number of the seller should the customer wish to make special orders.

Back-to-school Promo- customers will be given customized Puto Bomber notebooks and pencils for every purchase of 1 box of Puto Bomber

3. Christmas Promo- discounts of up to 3% may be availed of for every purchase of 2 boxes of Puto Bomber

4. Valentines Promo- heart-shaped Puto Bombers shall be made and offered to customers; for every 6 boxes of Puto Bombers, a flower bouquet shall be given

5. Graduation Promo- discounts shall be given to buyers

In normal operations, the researchers intend to employ the following selling techniques:

 Referral Approach- the salesperson uses the name of a satisfied customer or a friend at the beginning of a sales call; a friend’s name will usually catch the attention of a prospect

 Benefit Approach- the salesperson tries to catch the attention of the prospect by mentioning the product benefit

 Free-Gift or Sample Approach- a sample Puto Bomber is given to the prospect; once the prospect gets to know the product, they begin to appreciate them; this opens the door for the salesperson to start convincing the prospect to buy

 Curiosity Approach- salesperson uses opening statement like “Ma’am, have you tried eating Puto that looks like a cup cake but tastes like a donut?”; this question may get the interest of the prospect to listen