The Factors that affect our Pricing The Factors that affect our Pricing PolicyPolicy

• Risk of Future Life; A wonderful marriage life Risk of Future Life; A wonderful marriage life starts with perfect weddingstarts with perfect wedding

• Search Cost; Do not delay the weddingSearch Cost; Do not delay the wedding

• Time Cost; Choose the quickest serviceTime Cost; Choose the quickest service

• Prestige; High Price is High QualityPrestige; High Price is High Quality

• Distinctiveness; Services are UniqueDistinctiveness; Services are Unique

• Inability to compare services and pricesInability to compare services and prices

• Insensivity of High Income Group to priceInsensivity of High Income Group to price

• Instorability; it is SERVICEInstorability; it is SERVICE

• Reference;No anchor pricing in mindReference;No anchor pricing in mind

• Convenience cost; Give service based on Convenience cost; Give service based on customer expectancycustomer expectancy

PricePrice

QuantityQuantity

Demand for High Quality Demand for High Quality ServiceService

Limitations also affect Limitations also affect elasticityelasticity

• Time CostTime Cost

• Search CostSearch Cost

• Convenience CostConvenience Cost

Desires of the BRIDE side Desires of the BRIDE side determines the Demanddetermines the Demand

• Mother-in-law Mother-in-law (kaynana) always (kaynana) always wants morewants more

• Brides want a Brides want a perfect perfect weddingwedding

• Bridegroom shuts Bridegroom shuts up and pays the up and pays the amount amount

Objective Of Our Pricing PolicyObjective Of Our Pricing Policy

• Market-skimming pricing; Market-skimming pricing; International Wedding ServiceInternational Wedding Service

• Service Quality LeaderService Quality Leader

Price,Price,QualityQuality

TimeTime

QualityQuality

PricePrice

The Normal Experience The Normal Experience Curve Curve

Price,Price,QualityQuality

TimeTime

QualityQuality

PricePrice

A different view of A different view of “The Experience Curve”“The Experience Curve”

Seasonal Demand forSeasonal Demand for WeddingWedding Spring Summer Autumn Spring Summer Autumn WinterWinter

For SummerFor Summer

We give the normal services and We give the normal services and have catalog priceshave catalog prices

For WinterFor Winter

Not cutting prices,Not cutting prices,

Increase the intensity of the serviceIncrease the intensity of the service

Perceived Value PricingPerceived Value Pricing

Standard OfferStandard Offer

• Within 2 weeksWithin 2 weeks

• By ConsumerBy Consumer

• NoNo

• NoNo

• NoNo

• StandardStandard

Premium OfferPremium Offer

• Within 1 weekWithin 1 week

• By WEDREAMBy WEDREAM

• YesYes

• YesYes

• YesYes

• Standard+littleStandard+little

moremore

AdditionalsAdditionals

• TimeTime

• Legal AffairsLegal Affairs

• PhotoPhoto

• CateringCatering

• FlowersFlowers

• .... and others.... and others

• Total FeeTotal Fee

Influence of AdvertisingInfluence of Advertising

AdvertisingAdvertising

Differentiative Differentiative and Informativeand Informative

QualityQuality

HighHigh

High PriceHigh Price

Psychological PricingPsychological Pricing

• Price means QualityPrice means Quality

• Reference Price (Mental Categorization)Reference Price (Mental Categorization)

• Image PricingImage Pricing

PricePrice

Perception of Perception of QualityQuality

•Price Means Price Means QualityQuality

•Reference Reference PricingPricing

Low PriceLow PriceIn the Service In the Service Market, Market, Customers Customers have Mental have Mental Categories;Categories; Low Quality Low Quality

ServiceService

High PriceHigh Price

High High Quality Quality ServiceService

So Price your service So Price your service “high”:Put it in the “high”:Put it in the mental Category Bmental Category B

Category A Category BCategory A Category B

•Image PricingImage Pricing

The better the Brand image and ReputationThe better the Brand image and Reputation

The more probability of chance to charge high prices The more probability of chance to charge high prices

Promotional PricingPromotional Pricing

• Longer term payment advantageLonger term payment advantage

Price + inflationPrice + inflation

MonthsMonths

Product mix PricingProduct mix Pricing

• Optional Feature PricingOptional Feature Pricing

• Product Bundling PricingProduct Bundling Pricing

Optional Feature PricingOptional Feature Pricing

Our customers can select additional featuresOur customers can select additional features

Basic Service + Additional featuresBasic Service + Additional features

Product-Bundling PricingProduct-Bundling Pricing

Customers can select special offerings as Customers can select special offerings as bundlesbundles

Bundle C: Standard serviceBundle C: Standard service

Bundle B: Better Service (Pay Bundle B: Better Service (Pay little more)little more)

Bundle A: Premium Service (Pay Bundle A: Premium Service (Pay a little more) a little more)

SummarySummary

Our Pricing policy depends on theOur Pricing policy depends on the

dreams of the customers about a dreams of the customers about a

wonderful wedding and high quality wonderful wedding and high quality service, service,

which we are going to make real.which we are going to make real.