Moreover, Baskin Robbins also creates brand awareness to promote its products. When Baskin Robbins launch a new product, it is important for itself to create the brand awareness to the customers. So, the customers can recognize the existence and availability of the ice cream. It can also help the customers to differentiate its products from the competitors’. For instance, Baskin Robbins give an impression to customer which is charge with premium price but also give good quality products. Baskin Robbins also do a lot of advertising to create brand awareness to customers. When there is promotion, Baskin Robbins will put banner or giving out leaflets in their outlets for the customers to know about more. And also, Baskin Robbins also provides one spoon of sample for customer to try if they want to. Before buying the ice cream, the customer can try first and then only decide whether he wants to buy or not. Because of setting a premium price, Baskin Robbins also is counted as unique product to the customers. It is because charging of high price, not everyone is affordable with the product price. For the customers who cannot afford the price, Baskin Robbins is counted as a unique product to them because it is a little 11
BBDT3193 Pricing Strategy bit difficult for them to get the product. Baskin Robbins used this strategy because setting the premium price that means using the high price where there is uniqueness about its products. The quality they provide also is very high which will match the price they set. The third pricing strategy that is used by Baskin Robbins is psychological pricing . It is a pricing strategy that based on the theory that certain prices have a bigger psychological impact on consumers than others. By using psychological pricing, Baskin Robbins is able to attract more customers and boost its sales and conversion. This strategy also helps Baskin Robbins to build an impression of its brand without making significant changes to its products. Baskin Robbins just simply revise its pricing structure and can make its products seem like the best bargain on the market or elevate its product on the top of the available options compare with other competitors. The target audiences of Baskin Robbins are middle and upper income customers. So that, Baskin Robbins set its prices higher compare with the other brand of same product range such as Wall’s, King’s, Nestle, and so on. The psychological pricing that has been used by Baskin Robbins is charm pricing. It is a strategy which takes advantage of relative and anchor prices to make a product more appealing solely because of its listed price. With charm pricing, Baskin Robbins makes the left digit of its price reduced from a round number by one cent. So that the customers will come across this technique every time and when the customers make purchase, they will not pay attention about the price. For example, Baskin Robbins sell its product with the price such as RM12.99, RM15.99, or RM32.99. The number nine in the price does a really good job in convincing the customers they are getting deal. That “.99” is tucked up in the corner in
You've reached the end of your free preview.
Want to read all 38 pages?
- Summer '19
- Marketing, ........., ice cream, Baskin-Robbins, Irvine Robbins