What is used primarily by wholesalers and retailers who are involved in acquiring goods or resales?
Markup pricing
100
What is all the customers are charged the same price for goods and services offered to sale?
One-price policy
100
What is suggest a bargain and helps to increase sales volume? (3 for $.99)
Multiple-unit pricing
100
What is seasonal discounts?
They are offered to buyers willing to buy at a time outside the customary buying season
200
What is all cost and expenses are calculated, and then the desired profit is added on?
Cost-plus pricing
200
What is customers that pay different prices for the same type or amount of merchandise?
Flexible-price policy
200
What are items that are including several complementary products in a package that is sold at a single price?
Bundle pricing
200
What is a special pricing technique that requires a store to offer all merchandise in a given category at certain prices? (Price all the blouses at $25, $35, and $50)
Price lining
300
How is price determined?
It is determined on what consumers are willing to pay for given goods and services.
300
What is slimming pricing?
It is a pricing policy that sets a very high price for a new product.
300
What is odd-even pricing?
It is a technique that involves setting prices that all end in either odd or even numbers.
300
What is everyday low prices?
It is lower prices that are set on a consistent basis with no intention of raising them or offering discounts in the future.
400
What is the three methods of the basic pricing concepts?
Cost, Demand, and Competition
400
What is penetration pricing?
It is the initial pricing for a new product that is set very low.
400
What is prestige pricing?
It sets higher-than-average prices to suggest status and prestige.
400
For pricing concepts, what pricing method is most likely used by manufactures and service companies?
Cost-plus pricing
500
Why would the same product have different prices?
Some reasons is games that are closer to the court have a better view of the game so people are willing to pay more and same with theater tickets.
500
What type of items would a person bargain for their price?
Cars, antiques, Furniture, and selected jewelry
500
When do you us promotional pricing?
Back-to-school specials, Presidents’ Day sales, and dollar days
500
What is trade discounts?
They are not really discounts at all but rather the way manufacturers quote prices to wholesalers and retail.