Which type of pricing is when the price charged for products and services that is set artificially low in order to gain market share?
What is penetration pricing?
100
What drives pricing the most?
What is Competition?
100
If Hasbro and Playskool release a new toy that teaches math and reading, to which age group would they target?
What is toddlers or age 2-5?
100
What is the study of consumer behavior?
What is Demographics?
100
Which type of pricing uses a high price where there is a unique brand?
What is premium pricing?
200
Which type of pricing is when the costs of marketing and promoting a product are kept to a minimum?
What is economy pricing?
200
Give an example of when businesses try to match their competitor's product.
What is(something along the lines of) Nike Air Maxes and Skechers Kinetix Response.
200
If a product is high in demand and low in supply, in which way would its price change?
What is the price would increase?
200
The study of where you live, your income, your racial background, and your population is called what?
What is demographics?
200
This is when a company charges a higher price because it has a substantial competitive advantage.
What is price skimming?
300
This pricing is when sellers combine several products in the same package.
What is Product Bundle Pricing?
300
If Aeropostale releases a new T-Shirt with a new logo, to which age group would they target?
What is teenagers or age 13-19?
300
Many companies base their products off of specific demographics which is called________________.
What is marketing research?
300
This is when companies will attempt to increase the amount customers spend once they start to buy.
What is Optional Product Pricing?
400
This type of pricing sees variations in price in different parts of the world.
What is Geographical Pricing?
400
How can a company's channel of distribution affect their prices?
What is the amount of money paid for its transportation?
400
If a product is low in demand but high in supply, what would happen to the prices?
What is that they would decrease?
400
This is an approach used when the marketer wants the consumer to respond on an emotional, rather than rational basis.
What is Psychological Pricing?
400
Pricing to promote a product.
What is Promotional Pricing?
500
A lot of companies use this strategy around holidays to get more customers.(HInt:Black Friday)
What is creating a fake price and fake discount?
500
When a company raises prices because the product is low in their inventory, this is called what?
What is Supply and Demand?
500
What is the name of this category?
What is pricing and target market?
500
Dividing the market into smaller groups can also be called what?
What is demographic segmentation?
500
An approach used where external factors such as recession or increased competition force companies to provide value products and services to retain sales.