Term
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Definition
| goals that describe what a firm wants to achieve through pricing |
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Term
| stages for establishing prices |
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Definition
-development of pricing objectives
-assess target mkt's evaluation of price
-eval of competitor prices
-select a basis for pricing
-select pricing strategy
-determine a specific price |
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Term
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Definition
| adding a dollar amount or % to the cost of product |
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Term
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Definition
| adding a specified dollar amount or % to seller's cost |
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Term
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Definition
| adding to the cost of product a predetermined % of that cost |
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Term
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Definition
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Term
| competition-based pricing |
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Definition
| based on competitor's prices |
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Term
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Definition
| charging different prices to different buyers for same product |
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Term
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Definition
| charging highest possible price that buyers who most desire the product will pay |
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Term
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Definition
| setting prices below those of competitors to penetrate mkt and gain share |
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Term
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Definition
| different prices for products in a product line |
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Term
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Definition
| pricing basic product low, and related items higher |
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Term
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Definition
| price highest quality products higher than other models in the product line |
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Term
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Definition
| pricing one item low, with intention of selling other item in the product line |
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Term
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Definition
| setting a limited number of prices for selected lines of merchandise |
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Term
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Definition
| place cheaper item next to more expensive model |
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Term
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Definition
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Term
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Definition
| priced below usual markup, near or below cost |
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