Pricing Strategy For Retail Leather Business In Singapore Marketing Essay

1. Executive Summary

Pricing scheme is play really of import function in any concern and pricing is ever based on the consumers perception.This research is based on the Pricing scheme of Leather Retail Business in Singapore this is my first measure for holding retail leather store in Singapore.

In this research the of import to cognize what monetary value scope will do client to purchase leather merchandises and to see spread or infinite in bing leather market.

This paper investigates about the consumer preferred pricing for leather products- Handbags, Wallets, Jackets, Computer Bags, Mobile instance, Shoes and belts and what monetary value scope they found merchandise is Expensive and At what monetary value scope consumer think that merchandise is inexpensive? These factors are really of import to cognize about consumer pricing credence. Finally we have got consumer preferred monetary value, expensive and inexpensive monetary value besides

Research paper besides investigates all the factors which are act uponing consumer purchasing determination they are – Price, Quantity, Brand and Country of Origin. We got that monetary value is top most of import factor for consumer in purchasing determination and Competitors Price offerings analysis shows that Store type Biz from place and Retail Leather shop is much similar but shop type Shoping Mall shop is holding high terminal merchandises with high monetary value.

For this research, SPSS, Perceptual and excel is used to cognize about the difference between Consumer preferred monetary value. Perceptual is used to cognize preferable leather merchandise harmonizing to the consumer age and gender. SPSS for cognizing the bunch of leather merchandise so that can be used for offering bundles on demand.

Overall, Price is really of import factor and there is spread between consumer preferred monetary value and rivals offerings and there new shop can come in in market for selling leather merchandises in consumer preferable monetary value.

1. Introduction

Introduction

An entrepreneurial venture I am traveling to pattern is to step in, in the leather retail concern. This thesis is based on the Pricing scheme of Leather Retail Business in Singapore this start will assist me to stand up on my ain pess. Singapore is little topographic point but It is known as shopping Eden for Singaporean and tourers besides.

All leather merchandises are manner symbol for adolescent and young person coevals in the universe Singapore young persons are besides fond of leather merchandises.

In 2008-2009, each and every concern was confronting diminution due to the planetary crisis and in that period Singapore recession started because of that people started purchasing merely necessary things for them and they were less concerned about the manner and manner but From foremost Q1 of 2010 the shadow of planetary crisis started melting off and base on this I think Its right clip to get down Leather retail concern.Leather merchandises could ne’er decease although it might confront troubles, which is the portion of concern.

Leather merchandises will be purchased from sweeping leather industries, Dharavi, Mumbai. Dharavi is celebrated for selling all echt leather merchandises at inexpensive monetary value.

In order to travel in front with my program, I have to do certain premises and acquire a just thought of the market. For this, the group will be conducted a primary research on the local people on their desire to purchase leather and their outlook from the leather merchandise

The inside informations of abroad buyers/delegates who visited India during the three Indian International Leather Fairs in the last three old ages is given below: In which Singapore has entered in 2006-2008 It is taken from – hypertext transfer protocol: //www.leatherindia.org/annexure

Year

State

Number of abroad Buyers

2005-06

Spain, Portugal, UK, Singapore, Oman & A ; Italy

14

2006-07

Italy, Romania, Turkey, Argentina, Mexico, UK, USA, Portugal, Philippines, Bangladesh, France, Germany, Vietnam, Mexico, Sri Lanka and South AfricaA

69

2007-08

Spain, Belgium, USA, Brazil, Brunei, Spain, Czech Rep, Netherlands, Ethiopia, Hong Kong, Israel, Kenya, Mexico, Nigeria, Namibia, UK, Romania, Poland, Finland, Colombia, Canada, South Africa, Turkey, Belgium, Portugal, Italy, Philippines, Singapore, Sri Lanka, Taiwan, Uzbekistan & A ; Turkmenistan

116

In Singapore seems to be a considerable potency for the entry or enlargement of specialised retail ironss for leather retail concern. Singapore is really little state and here market of any service or merchandise gets concentrated really quickly but during my initial research shows that entire – 98 retail leather stores are available in the market but in 98 retail leather stores. 25 to 30 retail stores sell Branded leather like Gucci, Bulgary.

1.2 Singapore retail leather Market

In Singapore seems to be a considerable potency for the entry or enlargement of specialised retail ironss for leather retail concern. Singapore is really little state and here market of any service or merchandise gets concentrated really quickly but during my initial research shows that entire – 98 retail leather stores are available in the market but in 98 retail leather stores. 40 retail stores sells Branded leather like Gucci, The Indian lasting goods sector has seen the entry of a big figure of foreign companies during the station liberalisation period. A greater assortment of consumer electronic points and family contraptions became available to the Indian client. Intense competition among companies to sell their trade names provided a strong drift to the growing for retail merchants making concern in this sector. Increasing family incomes due to better economic chances have encouraged consumer outgo on leisure and personal goods in the state. B2B meetings between India exporters and abroad purchasers. Changes in consumer demands, attitudes and behaviour: The growing of modern leather retail is linked to consumer demands, attitudes and behaviour. Rising income degrees, instruction and planetary exposure have contributed to the development of the Singaporean in-between category. As a consequence, buying and shopping wonts have been inculcated and are increasing twenty-four hours by twenty-four hours. Historically, Singaporeans have been the 1s to fling on luxury points. Today, people are willing to seek new things and look different, which has increased disbursement on manner and beauty merchandises apart from dresss, nutrient and food market points.

1.3 Rivals of Retail leather shops

In Singapore many rivals are available but leather market is non saturated. Pls see below the list of Company Name who runs retails leather concern in Singapore – hypertext transfer protocol: //www.singaporebusinessguide.com/category/Leather_Goods.htm

A

Here about all retail leather stores are concentrating Leather billfolds, Hand bags, cardinal instance, leather jackets and card holders and in the list few of company are selling all these above merchandises but remainder of them concentrating few merchandise points and some of them concentrating on one merchandise like merely work forces belts and some lone manus bags. I have visited retail shop of Artisan where they sell all leather merchandises. Pls see the below Pricing for some demanding merchandises. In in leather industry Pricing is good factor in retail concern and significantly if you are selling the merchandise which you got in low monetary value where Product has a high value so seller volitionally sale merchandise in good net income border. Business scheme of selling merchandise in low monetary value which can be adopted, if you have enter in bing market where rivals are already deriving good net income border so there distinction can be made by selling merchandise with low net income border and do net income from selling big measure.

1.4 Target Customer

Peoples who stays in Singapore – Locals, PR or EP holders anyone who stays in Singapore and like to purchase merchandise with good quality in sensible monetary value. After recession hit in 2008 -people who were acute to purchase branded merchandises from salesroom and promenades are traveling into this client section

Customers are segregated harmonizing to their Monthly household Income and their purchasing behaviour. Other factors will be their penchant for any peculiar leather merchandise and handiness of the merchandise

1.5 Literature Review ( Pricing Strategy )

1.5.1 How Competitive Forces change scheme

Monetary value is large factor for purchasers and Sellerss both in retail concern. Typically in Singapore It is really much observed that Peoples are more likely bargain merchandises where they get merchandises in low monetary value. And there is chance in retail leather market to hold leather retail concern with low concern scheme.

Michael E Porter Business scheme professor from Harvard Business School has written in his article How Competitive Forces alteration scheme – The purchasers are likely to shop for a favourable monetary value and buy their merchandises

1.5.2 Empirical Analysis of Determinants of Retailer Pricing Strategy

Author Venkatesh Shanker and Ruth N Boltan has given their point of position for An Empirical Analysis of Determinants of Retailer Pricing Strategy where they investigated the other determiners of pricing scheme for retail concern and how monetary value coordination and comparative monetary value and concatenation factors in retail merchant pricing. And these end products are derived from a coincident equation theoretical account and how it is implicit in dimensions of retail merchants pricing schemes and that are influenced by some pricing dimensions and following are the These four pricing dimensions are statistically related First Competitors monetary value and cover frequence ) , Second Storability and necessity, Third Chain placement and size, Fourth Store size and mixture, Fifth Brand penchant and advertisement and Sixth Price and cover snap These findings are really utile to retail merchants profiling alternate pricing schemes.

Author Scott Alen has put some visible radiation on the point that How much should merchandise and service be charged? How merchandise placement should be placed and is pricing traveling to be cardinal portion of that positioning? The merchandise placement has to be consistent with placement because people truly want to acquire in return same or above what they pay for. Pricing is besides aferct demand because of that you have to make basic research so need to do simple questionnaire and inquiring them At what monetary value they would wish to purchase that merchandise and service? even this exclusive practician will give basic curve that says that at X monetary value, Y per centum people will purchase.

Author Deloitte has emphasized chief challenge of retail concern is puting up an accurate base monetary value for a merchandise. Price is of import to pull the client and bring forth the sale border

Market basket analysis should be done and we can place an optimum base monetary value utilizing measurement tool like Price snap. This can be done by making compare a series of monetary value points and finding a monetary value which generates the good gross gross revenues border. The past information of the merchandise should be assessed to come up with the best base monetary value for the market.

Retailers will be prevented stock deficits and minimized unplanned clearance markdowns by choosing the optimum monetary value This method or scheme will guarantee monetary value image remains fix and consistent to the client and it will enable retail merchants to increase gross revenues and stock list bends.

Existing leather

1.6 Area of concern: It is necessary to put Price of Product while come ining bing market. First measure will be make up one’s mind the monetary value and look into the handiness of leather merchandises in different mediums. Harmonizing to my analysis of numbering Leather stores from different classs. Presently 26 retail local leather stores which is different from Branded leather stores, 63 branded stores and about local online stores are 15.

Singapore is really little state so market of any merchandise gets saturated and there are direct rivals who are selling all types of leather merchandises It will be challenge for new entrant to come in in bing market, remain in the market and program for growing of the concern.

1.8 Research Problem:

This market research is the map which connects the consumer and client in the populace. Market research consequence is used to acquire an thought of individuality and information is used to place and make up one’s mind chances and jobs in the market for measuring and polishing selling state of affairs besides detecting market behaviour and public presentation. This will better the apprehension of the selling in and out

Market Research emphasis the informations aggregation procedure and analyse the consequences and after that collected findings should be used for their deductions. It is related with job work outing methods and the technique for acquiring thought to how to work out the jobs. To understand the unpredictable consumer purchasing behaviour and analyze this job and do effort to countervail this. Peoples sometimes have perceptual experience high quality means high monetary value. Necessitate to segregate the pricing scheme to avoid the merchandise monetary value perceptual experience. Product choice is required harmonizing to the demand of Singaporeans like Mens Accessories, Women Accessories, Shoes and Leather Jackets etc and harmonizing to the demand of Singapore people.

To understand the Competitors Pricing scheme analysis for their merchandises and so different merchandises with different monetary value scope. This research should be niche to happen the rivals pricing scheme

1.7 Objective of the Study: Price of any merchandise or service is ever play really of import function and this demand to research the chances for come ining new retail shop in bing leather market of Singapore by using pricing scheme. Research of the rivals merchandises monetary value and how pricing impact on Consumer purchasing determination.

To find demographic section of the bing leather merchandises consumers and how each section behave otherwise

Verify the preferable pricing for all leather merchandises harmonizing to consumer point of position

Identifying the monetary value of leather merchandises where consumer think that merchandises are expensive and inexpensive

Verify rivals monetary value offerings

2. Methodology

2.1 Data Collection: The primary information has been collected from the 81 people who have contributed in Survey questionnaire signifier created for making analysis on my research subject. Data aggregation is done with gender wise and harmonizing to the monthly income scope and age to acquire a better thought from different position of consumer by cognizing their demographic angle.

Rival ‘s informations aggregation based on the monetary value offering of rivals to the consumer and the type of shops like, Shoping Mall, Retail store or concern from place.

Sample size was 81 for study questionnaire of consumer and Competitors informations aggregation sample size is 24

2.2 Data Analysis: Perceptual Analysis is used to see leather merchandise Handbags, Wallets, Jackets, Computer bag, Mobile instance, places and belts penchant harmonizing to the gender wise. Female penchant for leather merchandises and Male penchant for leather merchandises.

SPSS tool has been used for executing for bunch analysis to cognize the combination of leather merchandises and frequence analysis to acquire inside informations of frequence of utilizing leather merchandises.

Excel is besides used for acquiring difference between expensive monetary value comparison to preferable monetary value and acquiring the inside informations of fluctuation of Expensive, preferred and inexpensive monetary value.

2.2.1 Demographic analysis

Demographic analysis has been used to segregate informations with different available basic parametric quantities of consumers. Age, Gender, Monthly Income, Nationality, Using leather merchandises and frequence of buying leather merchandises

2.2.2 Perceptual Analysis

Perceptual analysis has been used to see the different variables place. There are 7 types of leather merchandises – Handbags, Wallets, Jackets, Computer bag, Mobile instance, Shoes and belts. Analysis is based on harmonizing to different age group and gender.

2.2.3 Frequency Analysis

Frequency analysis has been used to see frequence of preferable variable and differentiate variables penchant. This analysis has helped to happen out purchasing influenced factors – Monetary value, Quality, Brand and state of beginning.

2.2.4 Cluster Analysis

Bunch Analysis has been used to see possible bunch from available all leather merchandises. Available merchandises for this analysis – Handbags, Wallets, Jackets, Computer bags, Mobile instance, places and belts.

2.2.5 Price Segmentation analysis

Price Segmentation analysis has been used to see discrepancy among acceptance class given in primary informations by consumer. There are 3 classs available Expensive, Preferred and Cheap. After this cheque the difference between Expensive to preferred to see which monetary value will be suited for consumer

3. Consequences and Interpretation

3.1. Demographic Analysis Consequence

3.1.1 Age

Result Finding and Interpretation:

There are 5 classs of age scope Sample size is 81, 55 % from 81 response is from age scope 25-35 and 2nd highest is from age scope 35-45

3.1.2 Nationality

Result findings and Interpretation

First analysis of Nationality of all 81 responses shows that there are 4 classs in which first highest one is Indian holding 51.9 % and 2nd one is Singaporean 35.8 % , 8.6 % Malay and 3.7 % of others. This research harmonizing to this findings is more based on Indian and Singaporean.

1.3 Gender

Result findings and Interpretation

This demographic analysis is demoing that in 81 responses Male are holding 61.7 % and female are holding 38.3 % that means penchant of leather merchandises of male is more outstanding research comparison to female

3.1.4 Income Range- Singapore Dollar

Result findings and Interpretation

This demographic analysis is really of import to cognize the monthly income scope of taken 81 responses for this research as it is based on pricing. 27 % is 10001 to 12500 and 2nd one is 12501 to 15000 and & lt ; 2500 and 2501 to 5000 are equal- 15 % and other 3 scopes are near to 10 % .

3.1.5 At present Using in Leather Merchandises

Result findings and readings

This analysis is demoing that 88.9 % is already utilizing leather merchandises means they are already associated with their pick of leather goods and their monetary value so undermentioned analysis is utile to acquire impact of their merchandises pick of purchased leather merchandise and what precisely they are looking for it. 11.1 % are non utilizing leather merchandise and the undermentioned analysis will state us about their penchant which makes them to purchase leather merchandise

3.1.6 Leather Product Purchasing Frequency

Result findings

One clip in a twelvemonth is captured first topographic point 22.22 % from 81 responses and 2nd topographic point there are two classs one is 2 times in twelvemonth and another is 1 clip in a twelvemonth. I interpret that Yearly frequence has captured more % so monthly because leather merchandise are non indispensable merchandise.

Interpretations

3.1.7 Preferred Store type for Leather merchandises shopping

Result findings

This analysis is stating that 51.9 % from 81 responses prefer to purchase from Retail local store in comparison to Mall or online. I interpret that people like to purchase from retail store comparison to Mall – Branded store or online shopping.

3.2 Clustering of leather merchandises

Result findings. There are 7 bunchs for leather merchandises places, belts, billfolds, Computer bags, Mobile instance, Handbags and Jackets. Belts and places is one good bunch and another 1 is computing machine bag and Mobile instance.

Interpretations: Belts and places are holding really good relation in purchasers point of position if anyone likes places so in same mode he will wish belts besides. Seller can sell them as a bundle and same for the Computer bags and Mobile instance

3.3 Perceptual Analysis

3.3.1.Male Preference of Products with different Age Range

Result findings

This analysis is based on leather merchandises penchant harmonizing to their age group – Male merely. There are 6 classs Teen: & lt ; 16 year, Young Adult:17 to 25, Adult: 25- 35, Mid-aged Adult: 35 to 45 and Aged & gt ; 45yrs and 1- pocketbooks, 2- billfolds, 3- Jackets, 4- Computer bags, 5- Mobile Case, 6- Shoes and 7- Belts

Interpretations: Male Adults and Male Teen they both like 4 Computer bags more and Male Young Adult prefer more places so other merchandises and Aged like Wallets and Mid Aged male like Jackets and nomadic instance

3.3.2 Female Preference of Products with different Age Range

Result findings

This analysis is based on leather merchandises penchant harmonizing to their age group – Male merely. There are 6 classs Teen: & lt ; 16 year, Young Adult:17 to 25, Adult: 25- 35, Mid-aged Adult: 35 to 45 and Aged & gt ; 45yrs and 1- pocketbooks, 2- billfolds, 3- Jackets, 4- Computer bags, 5- Mobile Case, 6- Shoes and 7- Belts

Interpretations

Female teens like no 2 – Wallets, female immature Adults like belts compare to other leather merchandises and female aged like Jackets, mid aged grownup and grownup like Handbags and places but Female mid aged grownup like more Handbags and places compare to Adult female

.

3.4 Leather merchandises preferable monetary value

3.4.1 Handbags preferred/expensive/cheap

Difference between Expensive and preferable monetary value scope

Result findings and interpretaion

In the above 2 charts X axis is Number of response and Y axis is the mean of selected Price scope. This analysis is done to look into the fluctuation of 81 people responses sing their preferable monetary value for Handbags, expensive monetary value harmonizing to people and inexpensive monetary value and difference between the people preferred and expensive pricing. Peoples preferable monetary value scope are bit low or sometime every bit same as expensive monetary value and from this we can interpretate that people will wish to purchase pocketbooks if it is bit expensive

3.4.2 Wallets preferred/expensive/cheap

Difference Between Expensive and Prefered

Result findings and reading

In the above 2 charts X axis is Number of response and Y axis is the mean of selected Price scope. This analysis is done to look into the fluctuation of 81 people responses sing their preferable monetary value for Wallets, expensive monetary value harmonizing to people and inexpensive monetary value and difference between the people preferred and expensive pricing.

Harmonizing to this analysis end product Peoples preferable monetary value scope are low from expensive monetary value so we can construe that people will wish to purchase Wallets in their preferable monetary value and make non like to pay more

3.4.3 Jacket preferred/expensive/cheap

Difference

Result findings and readings

In the above 2 charts X axis is Number of response and Y axis is the mean of selected Price scope. This analysis is done to look into the fluctuation of 81 people responses sing their preferable monetary value for Jackets, expensive monetary value harmonizing to people and inexpensive monetary value and difference between the people preferred and expensive pricing.

Harmonizing to this analysis end product Peoples preferable monetary value scope are low from expensive monetary value so we can construe that people will wish to purchase Jackets in their preferable monetary value and make non like to pay more

3.4.4 Computer Bag preferred/expensive/cheap

Difference

Result findings and reading

In the above 2 charts X axis is Number of response and Y axis is the mean of selected Price scope. This analysis is done to look into the fluctuation of 81 people responses sing their preferable monetary value for Computer bags, expensive monetary value harmonizing to people and inexpensive monetary value and difference between the people preferred and expensive pricing. Peoples preferable monetary value scope are bit low or sometime every bit same as expensive monetary value and from this we can construe that people will wish to purchase Computer bags if it is bit expensive but still they are really few in comparison to all 81 responses.

3.4.5 Mobile Case preferred/expensive/cheap

Difference

Result findings and reading

In the above 2 charts X axis is Number of response and Y axis is the mean of selected Price scope. This analysis is done to look into the fluctuation of 81 people responses sing their preferable monetary value for Mobile instance, expensive monetary value harmonizing to people and inexpensive monetary value and difference between the people preferred and expensive pricing. Peoples preferable monetary value scope are visibly low comparison to expensive monetary value and from this we can construe that people will wish to purchase Mobile instance if it is provided in their preferable monetary value scope

3.4.6 Places preferred/expensive/cheap

Difference

Result findings and reading

In the above 2 charts X axis is Number of response and Y axis is the mean of selected Price scope. This analysis is done to look into the fluctuation of 81 people responses sing their preferable monetary value for Shoes, expensive monetary value harmonizing to people and inexpensive monetary value and difference between the people preferred and expensive pricing.

Harmonizing to this analysis end product Peoples preferable monetary value scope are low from expensive monetary value so we can construe that people will wish to purchase Shoes in their preferable monetary value and make non like to pay more

3.4.7 Belts preferred/expensive/cheap

Difference

Result findings and reading

In the above 2 charts X axis is Number of response and Y axis is the mean of selected Price scope. This analysis is done to look into the fluctuation of 81 people responses sing their preferable monetary value for Belts, expensive monetary value harmonizing to people and inexpensive monetary value and difference between the people preferred and expensive pricing. Peoples preferable monetary value scope are bit low or sometime every bit same as expensive monetary value and from this we can construe that people will wish to purchase Belts if it is given in their preferable monetary value scope

3.5 Influence factor of Buying

3.5.1 Price-Buying Influence Factor

Result findings

Result findings are 55.6 % responses is said that Price is Most of import factor for them for purchasing leather merchandise and 21 % is said that monetary value is really of import factor and for 9.9 % it is less of import, 6.2 % it is really less of import and 7.4 it non at all of import factor for purchasing and leather merchandises

Interpretations

More than 50 % of responses are stating that Price is Most of import factor for them to purchase any leather merchandise and 21 % are stating Price is really of import factor so cumulative 72 % out of 100 % is stating Price is of import factor

3.5.2 Quality-Buying Influence Factor

Result findings

Result findings are 44.4 % responses is said that Quality is Most of import factor for them for purchasing leather merchandise and 25.9 % is said that Quality is really of import factor and for 3.7 % it is less of import, 11.1 % it is really less of import and 14.4 % it non at all of import factor for purchasing and leather merchandises

Interpretations

More than 44.4 % of responses are stating that Quality is Most of import factor for them to purchase any leather merchandise and 25.9 % are stating Quality is really of import factor so cumulative 70 % out of 100 % is stating Quality is of import factor

3.5.3 Brand-Buying Influence Factor

Result findings

Result findings are 3.7 % responses is said that Brand is Most of import factor for them for purchasing leather merchandise and 29.6 % is said that Brand is really of import factor and for 48.1 % it is less of import, 11.1 % it is really less of import and 7.4 it non at all of import factor for purchasing and leather merchandises

Interpretations

More than 48.1 % of responses are stating that Brand is less of import factor for them to purchase any leather merchandise, 11.1 % are stating Brand is really less of import factor and 7.4 % is stating it is non at all of import so cumulative 67 % out of 100 % is stating Brand is non much of import factor for them for purchasing leather merchandises

5.4 Country Origin-Buying Influence Factor

Result findings

Result findings are 11.1 % responses is said that Country of beginning is Most of import factor for them for purchasing leather merchandise and 18.52 % is said that Country of beginning is really of import factor and for 18.52 % it is less of import, 25.93 % it is really less of import and 25.93 % it non at all of import factor for purchasing and leather merchandises

Interpretations

More than 18.52 % of responses are stating that Country of beginning is less of import factor for them to purchase any leather merchandise, 25.93 % are stating Country of beginning is really less of import factor and 25.93 % is stating it is non at all of import so cumulative 70 % out of 100 % is stating Country of beginning is non much of import factor for them for purchasing leather merchandises

6.Competitive Analysis

6.1Types of Shops

Research Findings and Interpretations

Sample size is 24 shops and 45.8 % from 24 is Retail store and 37.5 from shopping promenade and 16.7 % Biz from place. Analysis is for all these 3 shop types is to cognize about the pricing offering for leather merchandises

6.2 Handbags Price Range

Handbags- Biz from Home Handbags- Shopping Mall Handbags- Retail Shop

Result findings and Interpretation

Shop Type – Game from place 27 % merchandising pocketbook at $ 1 to $ 150 monetary value scope and 73 % at $ 151 to $ 300 and Store type – Shoping Mall 70 % merchandising pocketbook at $ 151 to $ 300 and 30 % $ 301 to $ 450 and Store Type – Retail 45 % merchandising pocketbook at $ 1 to $ 150 monetary value scope and 55 % at $ 151 to $ 300. Harmonizing to these findings I interpret that retail shop are selling balance monetary value scope merchandises and Shoping promenade get downing scope is bit high comparison to retail shop and game from place

6.3 Wallets Price Range

Wallets-Biz from Home Wallets- Shopping Mall Wallets- Retail Shop

Result findings and Interpretation

Shop Type – Game from place 75 % selling Wallets at $ 1 to $ 100 monetary value scope and 25 % at $ 101 to $ 200 and Store type – Shoping Mall 70 % selling billfolds at $ 201 to $ 300 and 30 % $ 301 and above and Store Type – Retail 35 % selling billfolds at $ 1 to $ 100 monetary value scope and 65 % at $ 101 to $ 200. Harmonizing to these findings I interpret that retail shop game from place are selling at low monetary value scope merchandises and Shoping promenade get downing scope is bit high comparison to retail shop and game from place

6.3 Jackets Price Range

Jackets-Biz from Home Jackets- Shopping Mall Jackets- Retail Shop

Result findings and Interpretation

Shop Type – Game from place 50 % selling Jackets at $ 1 to $ 150 monetary value scope and 50 % at $ 151 to $ 300 and Store type – Shoping Mall 55 % selling Jackets at $ 151 to $ 300 and 45 % $ 301 to $ 450 and Store Type – Retail 20 % selling Jackets at $ 1 to $ 150 monetary value scope and 80 % at $ 151 to $ 300. Harmonizing to these findings I interpret that Biz from place shop type are selling balance monetary value scope merchandises

6.4 Computer bags Price Range

Computer Bag-Biz from Home Computer bags- Shopping Mall Compbags- Retail Shop

Result findings and Interpretation

Shop Type – Game from place 75 % merchandising Computer bags at $ 1 to $ 200 monetary value scope and 25 % at $ 201 to $ 400 and Store type – Shoping Mall 30 % merchandising Computer bags at $ 201 to $ 400 and 70 % $ 401 to $ 600 and Store Type – Retail 25 % merchandising Computer bags at $ 1 to $ 200 monetary value scope and 75 % at $ 201 to $ 400. Harmonizing to these findings I interpret that retail shop are selling balance monetary value scope merchandises and Shoping promenade get downing scope is bit high comparison to retail shop and game from place

6.5 Mobile instance Price Range

Mobile Case-Biz from Home Mobile Case- Shopping Mall Mobile Case-Retail Store

Result findings and Interpretation

Shop Type – Game from place 25 % merchandising Mobile instance at $ 1 to $ 100 monetary value scope and 75 % at $ 101 to $ 200 and Store type – Shoping Mall 22 % merchandising Mobile instance at $ 1 to $ 100 and 78 % $ 101 to $ 200 and Store Type – Retail 65 % merchandising Mobile instance at $ 1 to $ 100 monetary value scope and 35 % at $ 101 to $ 200. Harmonizing to these findings I interpret that retail shop, shopping promenade shop and Retail shop are selling in the same monetary value

6.2 Shoes Price Range

Shoes-Biz from Home Shoes- Shopping Mall Shoes- Retail Shop

Result findings and Interpretation

Shop Type – Game from place 75 % merchandising Shoes at $ 1 to $ 150 monetary value scope and 25 % at $ 151 to $ 300 and Store type – Shoping Mall 100 % merchandising places at $ 151 to $ 300 and 30 % $ 301 to $ 450 and Store Type – Retail 35 % merchandising pocketbook at $ 1 to $ 150 monetary value scope and 65 % at $ 151 to $ 300. Harmonizing to these findings I interpret that Biz signifier place are selling balance monetary value scope merchandises and Shoping promenade pricing scope is same

6.7 Belts Price Range

Belts-Biz from Home Belts- Shopping Mall Belts- Shopping Mall

Result findings and Interpretation

Shop Type – Game from place 25 % merchandising Belts at $ 1 to $ 100 monetary value scope, 50 at $ 101 to $ 200 and 25 % at $ 201 to $ 300 and Store type – Shoping Mall store 20 % merchandising Belts at $ 1 to $ 100, 45 % at $ 101 to $ 200 and 35 % at $ 201 to $ 300 and Store Type – Retail 35 % merchandising pocketbook at $ 1 to $ 100 monetary value scope and 65 % at $ 151 to $ 300. Harmonizing to these findings I interpret that game from place and shopping promenade shop are selling belts in many monetary value scope fluctuation comparison to retail shop.

4. Findingss and Decision

The undermentioned subdivision summarizes the chief findings and decision of the analysis.

Combined perceptual analysis for Male with different age group for their penchants for given 7 types of leather merchandises Refer Chapter 3, 3.3.1 Perceptual map diagram at that place merchandise 4- Computer bags are preferred by Teen & gt ; 16 and Adults- 35 to 45 and Product 1 pocketbooks and 2 billfolds are preferred by Aged age between & gt ; 45 and Young Adults age between 17 to 25 prefers merchandise 6-shoes and Mid aged age between 35 to 45 prefer merchandise 3-Jackets and merchandise 6-mobile instance.

Perceptual analysis for Female with different age group for their penchant for given 7 types of leather merchandises refer Chapter 3, 3.3.2 perceptual map diagram merchandise 7- Belts are preferred by Young grownup age between 17 to 25, adolescent age & lt ; 16 prefer merchandise 2 -wallets, Mid Aged age between 35 to 45 prefer Handbags and places and Aged age & gt ; 45 prefers Jackets and Adults age between 25 to 35 prefers computing machine bags and Mobile instance.

Cluster analysis refer Chapter 3, 3.2 for merchandises shows Belts and places are holding really good relation in purchasers point of position if anyone likes places so in same mode he will wish belts besides. Seller can sell them as a bundle and same for the Computer bags and Mobile instance.

Preferred Pricing analysis refer chapter 3, 3.4 this analysis is based on the Preferred monetary value, Expensive Price ( where people think monetary value of merchandise is expensive ) and Cheap Price ( where people think merchandise ca n’t be good in that monetary value ) . Preferable Price for pocketbook, places, billfolds and jackets are in scope Singapore dollar $ 101 to $ 150 and expensive $ 151 to 250 and competitory pricing analysis refer Chapter 3, 6.0 and attached excel Preferred Price is demoing that Biz from place and Retail shop are selling pocketbooks in $ 101 to $ 150 but % of selling in that scope are non much so there is an chance for come ining in the market with this scope merchandise.

Computer bag preferable monetary value is Singapore dollar $ 151 to $ 200 and more than $ 250 it is considered expensive and Mobile instance Preferred monetary value $ 51 to $ 100 and more than $ 100 considered expensive

Influence Factor analysis at that place 4 classs Price, Quality, Brand and Country of beginning which impact to the purchaser determination for purchasing leather merchandises. Price is of import for purchasers as 72 % please refer Chapter 3, 3.5.1, Quality is 70 % , Brand is 33 % and Country of Origin is 30 % . Price is really of import factor among all factors which is act uponing the consumers purchasing determination. My pricing scheme research is based on consumer preferred monetary value and rivals offer pricing after making all above analysis shop who will direct merchandise harmonizing to consumer preferable monetary value.

5. Further Survey

In this research I have focused on pricing scheme by cognizing consumer preferred pricing and rivals monetary value offerings. It would be really good to make analyze on Cost of leather merchandises. To acquire cost for all leather merchandises with different jobbers and acquire the monetary value of all merchandises and measure the all monetary values received from all different sellers and happen out best offer. Other factors besides should be noticed like revenue enhancement, import responsibility, export responsibility and other factors which are to be considered as a cost and so will be utile for cognizing concern net income

6. Mention

Articles/Journals

1. Puting up best Price- Aricle from

Publisher Name: Deloitte

hypertext transfer protocol: //www.deloitte.com/view/en_CA/ca/article/cec45c038b2fb110VgnVCM100000ba42f00aRCRD.htm? id=pricing

2. Measuring Business Strategy

Writer Name: Richard P. Rumelt — -November 28, 1993

hypertext transfer protocol: //www.anderson.ucla.edu/faculty/dick.rumelt/Docs/Papers/EVAL2.pdf

3. Strategic Factor Markets: Expectations, Luck and Business Strategy

hypertext transfer protocol: //www.jstor.org/pss/2631697

Jay B Barney October 1986

4.Increasing Returns and New universe of concern

hypertext transfer protocol: //www.santafe.edu/media/workingpapers/96-05-028.pdf

Writer Name: Brian Arthur- Aug 1996

5. Beyond the Many faces of Price -An integrating of pricing scheme

Writer Name: Gerard J Tellis – October 1998

6. A theoretical account of gross revenues

hypertext transfer protocol: //www.jstor.org/pss/1803562

Author- Hal Verian

7. Raising the Bar of Retailing in Singapore

hypertext transfer protocol: //www.gccrm.com/eng/content_details.jsp? contentid=2127 & A ; subjectid=101

Author- Ms. Candice Ng-Chee

8. The competitory consequence of Vertical understanding

hypertext transfer protocol: //www.jstor.org/pss/1814820

Author-Willam S Comanor

9. A Supergame- Theoritic Model of Price wars during Booms

hypertext transfer protocol: //www.jstor.org/pss/1813358

Author- Julio J

10. Function SINGAPORE ‘S KNOWLEDGEBASED

Economy

hypertext transfer protocol: //app-stg.mti.gov.sg/data/article/21/doc/NWS_2002Q3_KBE1.pdf

Author-Prof. Toh Mun Heng

11. Female concern proprietors in Singapore and elsewhere: a reappraisal of surveies.

hypertext transfer protocol: //www.questia.com/googleScholar.qst ; jsessionid=M5LbkMclRrhynvMLGyWvDGpfFX36Dqv5sz14BDDK2W8xdYGyxpBh! 1846051842! 1506911491? docId=5001259922

Author- Ramin Cooper Maysami, Valerie Priscilla Goby

12. Research and Markets: Luggage & A ; Leather Goods: Global Industry Guide.

hypertext transfer protocol: //business.highbeam.com/3613/article-1G1-218168343/research-and-markets-luggage-leather-goods-global-industry

Article from Business Wire

13. Consumer Perceptions of Price, Quality, and Value: A Means-End Model and Synthesis of Evidence

hypertext transfer protocol: //www.jstor.org/pss/1251446

Author- Valarie A Jethamel

14: Retail Schemes on the Web: Monetary value and Non-price Competition in the Online Book Industry

hypertext transfer protocol: //onlinelibrary.wiley.com/doi/10.1111/1467-6451.00181/abstract

Author- Karen Clay

15. Retailers go the Extra Mile to Woo Consumers

hypertext transfer protocol: //www.fibre2fashion.com/industry-article/29/2856/retailers-go-the-extra-mile-to-woo-consumers1.asp

Writer: : Sreeradha D Basu