Competitor-Oriented Approaches
My favourite conditioner is $30 at Metro, but it's $25 at Maxi. I show the price difference at Maxi to the Metro clerk. Metro charges me only $25.
What is Price matching?
A retailer adds a 40% markup on clothing because that's the typical margin in the category
What is standard markup pricing?
I've decided to account for the product and it's cost to price my item
What is cost-based pricing?
A company has invested a significant amount of money on developing their product and are looking for returns.
What is profit objective, or target ROI pricing?
What is 1st degree price discrimination and haggling?
Walmart's "Everyday Low Price" (EDLP) strategy is an example of _____?
What is at-market or below-market pricing?
Your friend buys a bottle of Grey Goose at the club for $500, but you just bought one at SAQ for $50.
What is standard markup?
Appraising my customers, I determine how they value the product then I price my item.
What is value-based pricing
A jewelery brand has lowered it's price to grow its' consumer base.
What is maximizing market share?
What is second-degree price discrimination and self-selection?
Makeup FOREVER prices eyeshow pallets significantly below NARS, Tarte, and Kat von D
What is below-market pricing?
In a commodity market, like grocery, they typically price below 15%
What is standard markup?
I paid $300 for my concert ticket, but my friend who's sitting further paid only $150
What is value-based pricing?
Prada maintains their premium prices to maintain the perception of luxury
What is brand image, objective, or luxury positioning?
I want the student discount at the museum, but forgot my ID, how is this a challenge to how the 3rd degree price discrimination model works?
What is an identifiable consumer segment?
A company's infamous product is extremely cheap for it's value, bringing in a lot of customers to the store, but not bringing in a lot of actual revenue per sale.
What is loss-leader pricing?
Elizabeth and Max go out for icecream after dinner. A scoop is $7, but a tub at the grcoery store is $7. The icecream scopp at the store is priced ____
What is 'at the standard markup'
I work at Amazon and I'm conducting conjoint analysis and surveys to determine price.
What is consumer WTP research?
I produce couches, so people test them out in-store, but that doesn't always result in sales. This problem is called _____ to combat this I _______
What is showrooming and price-matching?
My grandma bought me my first car. I've customized the leather seats and warmers, but decided to take out the premium floor covers.
What is first-degree price discrimination?