Melissa and I are faced with many choices regarding how to run Mike’s Mix. We have found a sincere and decisive way to determine these procedures: we make decisions based on how we would want to be treated as customers. It has been our approach to consistently keep pricing low and not offer coupons or run sales. Although, I like finding a coupon or taking advantage of a sale as much as the next guy, the reality of this savings is that the original price was inflated. It is my desire when making a purchase to pay the lowest, reasonable cost without having to look for coupons or wait for a sale. Therefore, we set prices in line with production cost and approximately a 10% profit margin that allows Melissa and myself to make a modest living. In light of this, we don’t have room in our prices for sales or coupon offerings. However, more times than not, we are able to beat our competitions prices (coupon or not) with this philosophy.
I feel this approach is fair to new and existing customers alike. Most companies offer coupons to motivate potential customers into making a purchase. I feel this shows little loyalty to existing customers who end up paying more for products. With Mike’s Mix, you may not get a coupon or discounted rate, but at the same time you know that you’re not paying for part of another person’s order.
Having said all that, we have occasionally issued small, short-lived coupon codes that represent donations for events. These events are either charities for a cause that we support or we know the race directors personally and want to be part of what we view as a special experience to athletes.