Product Pricing
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Product Pricing
Davids Bridal is the largest and one of the most successful bridal retailer in the country. They began as an elegant East Coast bridal salon in 1950 and they have grown to over 250 locations nationwide with more stores opening at a constant speed. Davids Bridal is credits their company with revolutionizing the bridal retail industry. They have introduced new concepts offering innovative shopping and customer one-on-one planning (Anonymous). Davids Bridal offers the customer the good as well as their services.
The demand for wedding attire is in high demand. There are a lot of new businesses that provide everything the bride to be needs for his/her wedding. Davids Bridal has been in business for 40 years and they understand the customers demand for their product in order to stay afloat of todays competitors (Anonymous). The utility the company provides to the customer is the satisfaction the customer receives when they finally find the wedding dress and wedding accessories they want for the price that is considered a deal.
Davids Bridal provides a number of complementary products for their customers. The company provides services such as a personal wedding planner. This wedding planner will aid in the process of the customer from the wedding gown, the brides maids dresses, the invitations, gifts, on-site alterations, special financing options, gown preservation services, and coordinating ensembles for the entire bridal party (Anonymous). The demand for the product is price elastic because in order for the company to stay competitive the price of the dresses and services are changing. Sometimes the company will offer dresses for $99 as a sell in order to keep new customers interested. Theses dresses usually cost from $500 on up.
Some of the issues that may affect customer demand and the price of the product include, but are not limited to, decline