Products or services that are lowered in cost to gain consumer money between two similar businesses
What is Competition Based Pricing
100
Accounting records and sales receipts that indicate your expenses and show which products are and not moving
What is Secondary Market Data
100
Advertisements that are sent directly to homes and businesses of potential customers
What is Direct Mail
100
An arrangement in which advertising costs are divided between two or more parties
What is Cooperative Advertising
100
This requires you to find out what customers are willing to pay for your product and set the price accordingly
What is Demand Based Pricing
200
A pricing technique in which odd numbered prices are used to suggest a bargain
What is Odd Pricing
200
The tendency to buy a particular brand of a product
What is Brand Loyalty
200
A simple game of chance used by a business to get customers interested in what a company has to offer
What is Sweepstakes Promotion
200
A company that acts as intermediary between a business and the media to communicate a message to the target market
What is Advertising Agency
200
Strategy in which you must consider your business costs and your profit objectives
What is Cost Based Pricing
300
A pricing technique in which even numbered prices are used to suggest a product of higher quality
What is Even Pricing
300
A portion of the total sales generated by all competing companies in a given market
What is Market Share
300
The intent of making a sale by oral presentations to one or more potential buyers
What is Personal Selling
300
An estimate of sales for a given period in the next quarter than can be contributed to the market
What is Sales Forecast and Market Sharing
300
Policy in which customers pay different costs for the same type or amount of a merchandise
What is Flexible Pricing
400
The price customers customers are willing to pay for the number of products producers are willing to make
What is the Price Impact on Supply and Demand
400
A situation where the cost of producing one unit of a good or service decreases as the volume of production increases
What is Economies Of Scale
400
The price of insurance an insured person or business pays for a specified risk for a specified period of time
What is Premium
400
A series of steps that a customer goes through when making a purchase. The steps attention, interest, desire and action.
What is the Buying Process
400
In order to start, two kinds of plans are needed. One to lay the groundwork for opening and another to support your operation
What is a Promotional Plan
500
Costs that are subject to change depending on the number of units sold
What is Variable Costs
500
The amount of money taken off an original price
What is Markdown
500
A return of part of the purchase price of a product used as an incentive for customers to purchase the product
What is Rebate
500
1) Select a basic approach to pricing 2) Determine your pricing policy 3)Set a price base on the stage of the product life cycle using an effective pricing technique
What is the Determinants of a Price Strategy
500
A series of steps that a customer goes through when making a purchase which are attention, interest, desire and action