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Based on the analysis conducted in the sections above, a number of recommendations could be suggested to Carman’s kitchen in terms of optimizing their pricing strategy and ensuring improvements within the aspect of revenue generation over time. Considering the figures obtained for the four different pricing strategies, Strategy 4 of reducing the price by 20% along with features in the weekly catalogue was identified as the most beneficial for the long term prospects of the business. While the retailed fixed costs were the highest when using Strategy 4 amounting to $1000, the average weekly category sales were also subsequently highest amounting to 13,037 in the long term.
The average weekly brand sales were also projected to be the highest when using Strategy 4, amounting to 1,554. In terms of the % gain in category sales over the long term, Strategy 4 was further found to be the most suitable, posting an overall gain of 124.21%. Naturally, it would be the most appropriate strategy for Carman’s kitchen to improve their sales and increase their revenue margins in a progressive manner. Based on the strategy, a number of additional recommendations have also been provided, which have been presented below and are as follows:
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