I have a marketing discussion question that I would appreciate any tips/help with! Thank you.

You are an owner of a small independent chain of coffeehouses competing head-to-head with Starbucks.The retail price your customers pay for coffee is exactly the same as at Starbucks.The wholesale price you pay for roasted coffee beans has increased by 25 percent.You know that you cannot absorb this increase and that you must pass it on to your customers.However, you are concerned about the consequences of an open price increase.

1.Discuss three alternative price increase strategies that address these concerns.

2.Which would you choose, and why?