I have made comparative shop reports to compare the different prices of Ted Baker’s products and their competitors products. This will help me when I come to decide on a pricing strategy for my 20-piece range, also it will help me decide on prices for each of the garments in my range based on fabrics and style.
I first made a comparative shop report comparing a Ted Baker dress to four competitor brands: French Connection, Reiss, Kate Spade and Karen Millen. This is so I will be aware of my competitors pricing and I can ensure that my 20-piece range is pricing competitively so that consumers are likely to choose to shop with my brand instead of its competitors. I found that French Connection had similar styles to Ted Baker but was much cheaper and Kate Spade had many dresses which had a higher price point than Ted Baker’s. Whereas Reiss and Karen Millen had a more similar price point but it was slightly lower, when I put together my 20-piece range I will use this information and maybe price my range under £200.
I then looked at Ted Baker’s dresses and tops to compare the range of prices. The dresses range from £99 to £999. This is a large range of prices but the garments with a higher price point were bridal pieces, so they have better quality materials and more detailing. The tops ranged from £39 to £130. The garments with the higher price point have a lot more detail and bolder prints whereas the lower priced garments are quite simple without detailing.