A Survey on EXPLORING THE PRICING DECISION STRATEGIES OF SELECTED BEAUTY SALONS IN METRO MANILA

Part 1: Profile of Company Representative Direction: Please check () inside the bracket that corresponds to your answer. 1. Age [ ] 25 years old or younger [ ] 25 to 30 years old 2. Sex [ ] Male 3. Marital Status [ ] Single [ ] Married 4. Highest Educational Attainment [ ] Elementary level [ ] Elementary Graduate [ ] High school level 5. Position of the company [ ] Owner [ ] Supervisor 6. Number of Years in Present Position [ ] 6 months or less [ ] 6 months to 1 year [ ] 2 to 5 years [ ] 5 years or higher [ ] Manager [ ] Others, please specify ________ [ ] High school graduate [ ] College level [ ] Vocational [ ] Widow/er [ ] Separated/Annulled [ ] Female [ ] 31 to 40 years old [ ] 40 years old or older

Part 2. Company Perspective Direction: Please check () inside the bracket that corresponds to your answer. 1. Years of existence in the beauty salon industry [ ] 3 years or less [ ] 3 to 5 years [ ] 6 to 8 years 2. Location of the business [ ] wet and dry market [ ] church and school vicinity [ ] shopping mall 3. Average number of customers per day [ ] 5 customers or lower [ ] 6 to 10 customers 4. Line of services provided [ ] haircut [ ] manicure/pedicure [ ] hot oil [ ] hair-color [ ] rebond/relax 5. Most frequently availed services [ ] haircut [ ] manicure/pedicure [ ] hot oil [ ] hair-color [ ] rebond/relax 6. Days open [ ] Mondays through Fridays [ ] Mondays through Saturdays [ ] Monday through Sundays [ ] Others, please specify ________ [ ] waxing [ ] hair spa [ ] foot spa [ ] massage [ ] hair/make-up [ ] facials [ ] threading [ ] home-service [ ] Others, please specify ________ [ ] waxing [ ] hair spa [ ] foot spa [ ] massage [ ] hair/make-up [ ] facials [ ] threading [ ] home-service [ ] Others, please specify ________ [ ] 11 to 15 customers [ ] 16 customers or higher [ ] commercial center [ ] along highways [ ] other frequented public places [ ] 9 to 11 years [ ] 12 to 14 years [ ] 14 years or higher

7. Business Hours Opening [ ] 8:00 AM [ ] 9:00 AM [ ] 10:00 AM [ ] 11:00 AM [ ] 12:00 NN [ ] Others, please specify ________ Closing [ ] 5:00 PM [ ] 6:00 PM [ ] 7:00 PM [ ] 8:00 PM [ ] 9:00 PM [ ] Others, please specify ________

Part 3. Pricing Decision Strategy Direction: Please check () the box that shows your degree of agreement with the following statements. Legend: 5 Strongly Agree (SA) 4 Agree (A) 3 Undecided (U) 2 Disagree (D) 1 Strongly Disagree (SD) A. Customers Demand 5 1. Customers demand on beauty services is high. 2. The customers are sensitive to the price change of beauty services offered. 3. The customers consider the beauty services as necessities. 4. The customers preferences affect the price of beauty services. 5. Customers needs are met by the business 6. The location of the salon is accessible to customers. 7. The customers are satisfied by the services rendered. 4 3 2 1

B. Competitors Action 5 1. There is a high competition in the beauty care industry. 2. There is a pricing effect on the business pricing decision on how competitors price and sell their services. 3. The availability of substitute beauty services affects the salons pricing decisions as well. 4. The salon renders quality service among its customers. 5. The salon uses advance facilities to its customers. 6. The salon makes beauty services it provides unique from the services offered by its competitors. 7. The salon promotes discounts for beauty services to established on occasional basis to get edge. 8. The salon has a nice and comfortable ambiance. C. Market Forces 5 1. The salon increases its price with services offered after attracting a substantial number of regular customers. 2. The pricing decision of the salon is affected by the number of competing beauty services. 3. The number of customers compensate with number of beauty businesses in the area. 4. Prices for services rendered are subject to the current price of commodities, services, and petroleum products. 5. Customers are now considering beauty care as a priority. D. Government Laws and Regulations 5 1. The salon is registered in the City Health Office (CHO). 2. The salon is properly complied with the requirements of City Health Office (CHO). 3. The government limits the business ability to charge different customers with contrary to prices for the same beauty services. 4. The government sets price ceilings or price floors in beauty services. 5. Registration in the City Business Permit and License Office has been complied upon. 6. The beauticians are duly licensed by Technical Education and Skills Development (TESDA). 7. It is hard to establish and maintain a beauty salon due to government regulations. 4 3 2 1 4 3 2 1 4 3 2 1

PART 4. Financial Perspective Direction: Please check () the box that shows your degree of agreement with the following statements. A. General Accounting Policies 5 1. An accountant is being hired quarterly to arrange the salons accounting or tax issues. 2. The financial statements of salon are made by an accountant. 3. The financial records of salon are only accessible to authorized personnel. 4. The salon prepares the complete set of financial statements and sees to it that it is understandable, reliable and relevant. 5. All related costs of beauty services are properly accounted for in order to come up with appropriate income for the period. B. Source Documents 5 1. Official receipts are issued to the customers. 2. Daily sales summaries are prepared and agreed to the receipts issued. 3. Duplicate copies of all customers receipts are kept for tax purposes. 4. All receipts regarding the salons expenses are compiled for tax purposes. 5. The salon keeps a copy of its financial statements made by the accountant. C. Books of Accounts 5 1. Computerized systems are used to reflect the salon transactions of the company. 2. The salons books of accounts are maintained properly for safe keeping purposes. 3. There is a complete set of journals and ledger for accounting purposes. 4. Ensure the validity completeness, and timeliness of the recording of its business transactions. 5. Reports and records are checked by the company accountant. 4 3 2 1 4 3 2 1 4 3 2 1

D. Tax Implications 5 1. Prices for beauty services are all tax inclusive. 2. The salon complies with National Internal Revenue Code (NIRC). 3. The salon employs tax savings and tax avoidance practices. 4. The salon practices are pre-assessment scheme in determining tax amount to be paid. E. Financial Statements and Reporting 5 1. Financial reports include all valid business events data. 2. The salon prepares the financial statements in accordance with the Generally Accepted Accounting Principles (GAAP). 3. Accounts are properly classified (as to assets, liabilities, capital, revenues and expenses) in the financial statements. 4. The salon regularly seeks independent audit for its financial statements. 5. The salons financial statements are readily available for users in interim dates. 6. The salon hired professional business consultants if advice is needed regarding financial aspect of the salon. Part 5. Problems Encountered and Proposed Solutions Direction: Below are listed problems and difficulties encountered, and recommended solutions regarding pricing decision strategies that may be employed by the company. Put a check mark () on the box provided that corresponds to your answer. A. Problems Encountered 5 1. Lack of customers awareness regarding proper beauty care. 2. Lack of customers awareness regarding business existence. 3. The salon experiences difficulty in the collection of unpaid fees from the customers. 4. The salon has difficulty in anticipating the competitors pricing decision. 5. There exists the lacking of new appropriate technology needed in services. 6. Customers satisfactions are sometimes not being met. 7. The customers has transferred from one salon to another because of the problems they met in the salon where they going into. 4 3 2 1 4 3 2 1 4 3 2 1

B. Proposed Solutions to Problems Encountered 5 1. 2. 3. 4. 5. 6. Part 6. Socio-Economic and Environmental Contributions Direction: Below are listed socio-economic and environmental contributions that may be employed by the company. Put a check mark on the box provided that corresponds to your answer. A. Social Contributions 5 1. The salon helps uplift the life of its local community by providing decent jobs, either full time or part time. 2. Employees and laborers feel job satisfaction. 3. Harmonious relationship between management and employees. 4. Career and personal growth are developed by the business. 5. The salon initiates training program for out-of-school youth and other who may want to acquire skills in salon work. 6. The business complies with the standards and laws pertaining to environmental concerns. B. Economic Contributions 5 1. Salaries are competitive and enough to meet the needs of a family. 2. An employee can set aside a portion of his disposable income for saving. 3. Employees receive bonuses and incentives when there are high sales. 4. Economically stable jobs are provided by the salon. 5. Part of the employees disposable income goes to family recreation. 6. The employees can finance the education of his/her children. 7. The business pays the right amount of tax obligations. 8. The business contributes to the countrys economy as a whole. 4 3 2 1 4 3 2 1 4 3 2 1

C. Environmental Contributions 5 1. The business has knowledge and concerns about the environmental issues. 2. The business recycles waste internally or reduces the production waste in the environment. 3. The business produces environmental friendly beauty services and concerns. 4 3 2 1