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For this question, refer to the article “The Inside Story of Wawa” found here: https://www.inc.com/magazine/201806/maria-aspan/wawa-convenience-store-pennsylvania.html. A. The manager of a newly opened store asks you to advise her on an optimal pricing scheme for specialty sandwiches, signature fountain drinks and combination packages of sandwiches and drinks. Market research reveals that the market size for the newly opened facility is about one million consumers of four types who can be classified as follows:
S: Have a strong preference for Wawa’s signature sandwichesF: Have a strong preference for Wawa’s signature fountain drinksSF: Like to buy sandwiches and drinks as a combinationNP: Have no preference for either product; stop in at Wawa and buy eats occasionally
Assume that the population is evenly distributed; 25% of the consumers fall into each buying group. The maximum each group will pay for the products is given in the following table.GroupSandwichDrinkS83F46SF84NP32
Given the information above, what is the optimal sandwich price, the optimal drink price and the optimal combination price (sandwich and drink sold together)?
As part of your answer for this section, provide some examples of how Wawa uses pricing strategy as part of its store operationsB. Use Michael Porter’s Five Forces framework to explain how Wawa applies economic concepts to business strategy. As a directed requirement, for power of suppliers, make labor one of the inputs you analyze. How does Wawa structure compensation and align incentives to control cost and achieve company objectives?
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