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Pricing
Economic Forces
Pricing Desicions
100
This approach is used where a substantial competitive advantage exists and the marketer is safe in the knowledge that they can charge a relatively higher price.
What is Premium Pricing
100
A significant decline in activity across the economy, lasting longer than a few months. It is visible in industrial production, employment, real income and wholesale-retail trade.
What is Recession
100
When a company demands different prices for the same product in different market segments
What is Discrimination Pricing Strategy
200
This approach was used by France Telecom and Sky TV. These companies need to land grab large numbers of consumers to make it worth their while, so they offer free telephones or satellite dishes at discounted rates in order to get people to sign up for their services.
What is Penetration Pricing
200
The use of government revenue collection (taxation) and expenditure (spending) to influence the economy
What is Fiscal Policy
200
The company chooses the same price for their products as the competitor's set
What is Market Price Strategy
300
This approach is used when the marketer wants the consumer to respond on an emotional, rather than rational basis.
What is Psychological Pricing
300
A persistent increase in the general price levels of goods and services of an economy over a period of time.
What is Inflation
300
If the company has a new product, it starts with a higher price
What is Skimming Strategy
400
Budget airlines are prime users of this approach when they charge you extra for additional luggage or extra legroom.
What is Optional Product Pricing
400
During periods of recession, economies usually develop a high rate of
What is Unemployment
400
Getting a customer to respond on an emotional rather than rational basis.
What is Psychological Pricing
500
Manufacturers of digital watches used a _____ approach in the 1970s. Once other manufacturers were tempted into the market and the watches were produced at a lower unit cost, other marketing strategies and pricing approaches are implemented. New products were developed and the market for watches gained a reputation for innovation.
What is Price Skimming
500
Different prices for customers on different parts of the world.
What is Geographical Pricing