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Definition
| A reduction from the original selling price. |
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Definition
| Describes the relationship between changes in a product's price and the demand for that product. |
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Definition
| The difference between the selling price and all costs and operating expenses associated with the product sold. |
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Definition
| Increases total revemie when prices decrease. |
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Term
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Definition
| All customers pay the same price. |
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Term
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Definition
| A very high price designed to emphasize the quality or uniqueness of the product, even though it attracts fewer customers. |
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Term
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Definition
| A very low price designed to increase the quantity sold of a product by emphasizing the value. |
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Term
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Definition
| De-emphasizing price by developing a unique offering that meets an important customer need. |
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Term
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Definition
| The quantity of a product that must be sold for total revenues to match total costs at a specific price. |
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Term
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Definition
| Costs associated with business operations. |
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Term
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Definition
| Allows customers to negotiate price within a price range. |
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Term
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Definition
| Distinct categories within which products are organized based on differences in price, quality, and features. |
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Term
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Definition
| The actual cost and the methods of increasing the value of the product to the customers. |
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Term
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Definition
| Different product or transportation costs are set for specific areas of the seller's market. |
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Term
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Definition
| The difference between the cost of the product and the selling price. |
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Term
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Definition
| An amount added to the cost of a product to determine the selling price. |
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Term
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Definition
| Extended by a retail business to the final consumer. |
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