Join the Meeting Place for Moms!
Talk to other moms, share advice, and have fun!

(minimum 6 characters)

4 Bumps

working on homework need your opinions! :)

i'm currently working on my Master's degree in Business mgt. for my team we are working on a paper thats based on price elasticity.

here's the questions that I came up with.

1- for those who are shopping at lower priced grocery stores, are you really getting your moneys worth?

2- how much is the average family saving by going to the lower priced stores?

3- what can the larger stores do to gain more business/profit? (based on product elasticity/demand)

4- is it easier to gain profit on an item priced lower (with lower quality) or an item higher priced and better quality?

if you can response asap, i would greatly appreciate it! :)

Answer Question
 
tayseansmom7505

Asked by tayseansmom7505 at 10:42 PM on Jul. 30, 2010 in Home & Garden

Level 10 (380 Credits)
Answers (4)
  • I use to shop for groceries at Wal-Mart, now I shop at Kroger. Sometimes, I pay a little more but I have noticed that by going to a more "expensive" store that I am actually saving more. Any time of the day, Wal-mart is over crowded. By going to Kroger, I save time and money (because money is time). I am also not tempted to buy any "extra" stuff at Kroger because Kroger is not a one stop store. Therefore, I don't make as many impluse buys. And because I am having to spend a little extra, I tend to buy the generic brand or use more coupons. So, all in all, even though I may shop at a more expensive store, I save more in the long run.
    JeremysMom

    Answer by JeremysMom at 10:55 PM on Jul. 30, 2010

  • 1- for those who are shopping at lower priced grocery stores, are you really getting your moneys worth?
    I do because I buy many things in bulk, which is usually much cheaper.

    2- how much is the average family saving by going to the lower priced stores?
    I typically save about $40 shopping at a "discount" grocery store for the same items from a "regular" grocery.

    3- what can the larger stores do to gain more business/profit? (based on product elasticity/demand)
    Keep track of what price the same items they offer sell for at others stores, meet or beat that, plus offer some quality substitutes.

    4- is it easier to gain profit on an item priced lower (with lower quality) or an item higher priced and better quality?
    I will pay more for quality products.
    silversmom

    Answer by silversmom at 10:58 PM on Jul. 30, 2010

  • thank you :)
    tayseansmom7505

    Comment by tayseansmom7505 (original poster) at 11:00 PM on Jul. 30, 2010

  • 1- for those who are shopping at lower priced grocery stores, are you really getting your moneys worth?
    our groceries come from Trader Joes, Costco and ethnic markets; yes, we do

    2- how much is the average family saving by going to the lower priced stores?
    I have never quantified this, only priced up individual items. I suggest that you to to stores with a calculator and price up foods

    3- what can the larger stores do to gain more business/profit? (based on product elasticity/demand)
    A better variety of organics and lower prices.
    Lower priced with better quality - look at the Trader Joes model.
    4- is it easier to gain profit on an item priced lower (with lower quality) or an item higher priced and better quality?
    O
    if you can response asap, i would greatly appreciate it! :)
    rkoloms

    Answer by rkoloms at 2:21 PM on Aug. 1, 2010

Join CafeMom now to contribute your answer and become part of our community. It's free and takes just a minute.
close Cafemom Join now to connect to other members! Connect with Facebook or Sign Up Using Email

Already Joined? LOG IN