Value and Pricing

Pricing and Value go hand in hand with my mission statement. The value of my product relies on the experience in which my consumers expect to get when buying my ice cream. Price covers not only the ice cream, but also the experience, the help, and the consideration my company offers with dealing with costumers. This theory is based on a quote from Makrting: An Introduction, for it states:"In the narrowest sense, price is the amount of money charged for a product or service. More broadly, price is the sum of all the values that customers give up in order to gain the benefits of having or using a product or service."  

With this in mind the company's products will be priced on not only it's target customer, but it's competition as well. Our main competition is not only Brand named stores such as Baskin Robbins and Cold Stone, but also the family owned business trucks that charges a lot less than any normal ice cream stand. Market an Introduction reads,  "If consumers perceive that the company’s product or service provides greater value, the company can charge a higher price. If consumers perceive less value relative to competing products, the company must either charge a lower price or change customer perceptions to justify a higher price." Our truck will have to match our value in order to compete against these lower costs the family owned businesses offer, and stay low enough so it's prices are better than the high marked prices of Brand names.

For traditional ice cream truck novelties and bars, we'll stick to low cost market pricing set by the traditional ice cream trucks, but raise it to match our truck's value. For Example, where a normal Klondike Bar would be anywhere between $1.00-$1.25 we shall raise it a quarter more $1.25-$1.50. 

For the soft served ice cream we will not be matching or raising the prices, but instead we'll be lowering them to compete against the high quality stores.We will compete not only with our lower pricing, but our diverting styles as well. Cold Stone is known for it's unique serving by mixing nuts, fruits and candy into their ice cream on a frozen granite stone ledge, hence the name. This style, is the company's high market value point. Ours will rely heavily on not only the taste of our ice cream, but a cool and comforting atmosphere we will provide at our various locations.