PAYLESS SHOESOURCE Paying Less for Fashion BACKGROUND Payless ShoeSource‚ Inc. is the largest footwear retailer in the United States. The company operates about 4‚700 stores in all 50 states as well as Puerto Rico‚ Guam‚ Saipan‚ the U.S. Virgin Islands‚ Canada‚ Central America‚ the Caribbean‚ Ecuador‚ and Japan. It also sells footwear via the Internet at www.payless.com. Payless has built its success by offering a large selection of shoes at very low prices‚ most selling for less than $15
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Chapter 11 Pricing Strategies Questions for Discussion 1. Which of the different product mix pricing strategies discussed in the text applies best to Payless’s new strategy? : The strategy for setting a product’s price changes when the product is the part of a product mix. Firms are look for a prices that maximizes the profits on the total product mix. There are five product mix pricing strategies for the firms. Product line pricing‚ optional-product pricing‚ captive-product pricing‚ by-product
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Payless ShoeSource is an American discount footwear retailer founded in Topeka‚ Kansas in 1956 by brothers Louis and Shaol Pozez that is owned by Collective Brands‚ Inc‚ on a revolutionary idea - selling shoes in a self-select environment. In 1961‚ it became a public company as the Volume Shoe Corporation which merged with the May Department Stores Company in 1979. More than 50 years later‚ Payless continues the self-select model combined with leading customer service to provide a fun and engaging
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1- Which of the different product mix pricing strategies discussed in the text applies best to Payless’s new strategy? Discuss this in detail. The strategy for setting a product’s price often has to be changed when the product is part of a product mix. Companies usually develop product lines rather than single product. Product mix means in the same companies have many type product with they are brands it sold. Product mix pricing strategies consist of five elements which is product line pricing
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2.) Psychological pricing and reference pricing both apply well to the strategy that payless employs. Before purchasing‚ consumers think about which prices are suitable for specific products that are available. When consumers see a high priced product‚ they would expect to see the product to have certain characteristics that stand out from items that are available at a lower price. Payless catches the buyer’s attention by displaying products as a very high quality product‚ so the consumer assumes
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Answers – Payless ShoeSource case study 1. Which of the different product mix pricing strategies applies best to Payless’s new strategy? To my view they are using mix of different strategies. Firstly‚ skimming pricing. This is about selling a product at a high price‚ sacrificing high sales to gain a high profit‚ therefore ‘skimming’ the market. I see that they have invested a lot of money to hire top notch designers‚ rebranding effort like remodeling stores etc. There needs to be some mechanism
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Payless Shoe Source is a discount footwear retailer with over 4‚572 retail stores in 15 countries. This company does not only focus on providing different fashion possibilities for the family at a great price‚ but distinguishes themselves by offering an engaging‚ easy-to-shop experience and outstanding customer service. Our group chose this company to blueprint because it has a very elaborate customer service process. This company focuses heavily on providing the customer with a great shopping experience
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Case Study 3 Pricing Strategy Payless Shoesource: Paying less for fashion Table of Contents BACKGROUND…………………………………………………... 3 OBJECTIVE……………………………………………………….. 3 PROCEDURES……………………………………………………. 4 SUMMARY OF FINDINGS………………………………………. 4 CASE STUDY QUESTION: 1…………………………………….. 4 CASE STUDY QUESTION: 2 …………………………………….. 5 CASE STUDY QUESTION: 3……………………………………... 6 CASE STUDY QUESTION:
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From the very first day the Payless Corporation is having issues in these 4 main departments of their business: unavailability of n/w‚ illegal financial functions/operations‚ IT security Budget costs & accommodated applications. Due to the non-settlement of these Issues Corporation had gone through severe loss n got diminished. This memo will help to understand these issues in details: 1. Unavailability of n/w: In the morning of 31 Jan.‚ the users at Payless Foods & different offices at different
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renting a storage unit. Payless Storage is the trusted local storage company in the Texarkana area‚ with locations in Texarkana‚ TX and AR‚ as well as in Shreveport‚ LA. They are passionate about keeping your belongings and your storage unit safe and easily accessible‚ 24/7. Here are three reasons from the pros at Payless Storage why you may need a storage unit: Storage Units Keep Your Belongings Secure: When your belongings are being housed at a secure storage facility like Payless Storage‚ you can rest
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