History of Pricing
What exchange system existed before money?
Barter
What is the money charged for a product called?
Price
What objective focuses on earning the highest possible profit?
Maximization
What factors can a company control?
Internal factors
What strategy sets higher prices to signal quality?
Premium
Where did early pricing systems first emerge?
Mesopotamia
What reflects customer perception beyond cost?
Value
What objective focuses on increasing market presence?
Market share
What factors are outside company control?
External factors
What strategy targets price-sensitive customers with low costs?
Economy
What were Greek marketplaces called?
Agora
Which marketing mix element directly affects revenue?
Price
What strategy starts high and gradually lowers price?
Skimming
What market force strongly influences price levels?
Demand
What strategy sells multiple products together at a discount?
Bundle
What silver unit was used in early trade?
Shekel
What buyer characteristic strongly affects pricing decisions?
Behavior
What strategy uses low initial prices to enter the market?
Penetration
What external authority can legally limit prices?
Government
What model combines free and paid services?
Freemium
Which civilization pioneered international trade pricing?
Phoenicia
What customer perception allows companies to charge more?
Quality
What pricing changes based on customer willingness to pay?
Dynamic pricing
What economic condition raises prices rapidly?
Inflation
What strategy temporarily reduces price to boost sales?
Promotional pricing