Thompson Brothers Funeral Homes PDF

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1. Should the pricing policy be changed at the Mount Hamilton Chapel? No. The pricing is similar compared to other funeral homes and few customers made any attempt to check a competitor’s price due to the nature and timing of the purchase. 2. What impact would a pricing policy change have on performance over the next three years? Seek more options for cremation. The demographic in Hamilton, especially in the Hamilton Mountain area has changed drastically over the last few years. The area has seen an influx of immigrants from Asian countries where cremation isn’t just popular but mandatory for some religions like Buddhism, Sikhism, and Hinduism. As well there seems to be more of an interest in itemized pricing among their consumers. Instead of focusing on two price points they should focus on itemized as it could bring in more business for the funeral parlour. 3. What other changes could be made to the company’s marketing mix to improve performance?  Stop handing out flyers as this seems like an extremely morbid way to market your business. Market yourself through positive reinforcement by getting involved, donating to retirement or care homes. As stated, people necessarily don’t care as much on the price of the funeral service but more so where it is held. They should focus on becoming more community oriented instead of profit as the business will strive the more the get involved in local parishes, community events, volunteering or donating to local charities. In Ancaster, the old age home called the Meadows often has the funeral home Dodsworth & Brown fund small events for the seniors like breakfast at a local diner.  Move towards more options for cremation services as there is a trend towards this in the last few years Product: intangible is the actual funeral service vs tangible the casket, acknolodgment cards, flowers, preparation of the deceased. Placement: Hamilton Mountain on Upper James, busy high traffic area with lots of signs for business along the street. Considered noisy, and busy as it is right off the Lincoln M. Alexander Parkway, and between strip malls. Promotion: a few newspaper advertisements, flyers, church bulletins, and a website. Price: Average price of a funeral in 2013 was $8,500 with variable costs roughly $550. The funeral home broke up their prices into two methods: unit pricing (40% preferred) and complete itemized pricing (60% preferred)....