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| sets a specific level of profit as an objective |
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| seeks some level of nit of sales, dollars sales, or share of maket |
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| dont rock the boat thinkink |
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| agressive action on one or more of the P's other than price |
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| offering the same price to all customers who purchase products under essentially the same conditions and the same quantities |
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| tries to sell the top of a market, sells at a high price at first |
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| penetration pricing policy |
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| tries to sell the whole market at one low price |
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| introductory price dealing |
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| termporary price cuts to speed new products into a market and get customers to try them |
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| prices final customers or users are normally asked to pay for products |
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| reductions from list price given by a seller to buyers who either give up some marketing function or provide the function themselves |
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| cumulative quantity discounts |
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| means that payment for the facevalue of the invoice is due immediately |
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| what a wholesaler would give to the retailer as a discount from the suggested retail price |
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| price reductions given to firms in the channel to encourage them to advertise or otherwise promote the suppliers products locally |
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| given to middlement to get shelf space for a product |
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| given to retailers by manufacturers or wholesalers to pass on to the retailers' sales clerks for aggressively selling certain items |
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| a price reduction given for used products when similar new products are bought |
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| refunds paid to consumers aftera purchase |
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| making an average freight charge to all buyers within specific geographic areas. the seller pays the actual freight charges and bills each customer for an average charge |
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| uniform delivered pricing |
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Definition
| means making an average freight charge to all buyers |
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Definition
| setting a fair price level for a marketing mix that really gives the target market superior customer value |
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| unfair trade practices acts |
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Definition
| put a lower limit on pries, so selling below cost would be illegal |
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| pricing a product sold in a foreign market below the cost of producing it or at a price lower than in its domestic market |
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| prices customers are shown to suggest that the price has been iscounted from list |
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| bans unfair or deceptive acts in commerce |
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| competitors getting together to raise, lower or stabiliae pries. |
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| makes it illegal for any price discrimination |
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| the dollar amount added to the cost of products to get the selling price |
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| means adding a reasonable markup to the average cost of a product |
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| adding a target return to the cost of a product...10% return or whatever |
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| the point where the total costs equal the total revenue |
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| total FC/(selling price-VC) |
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| focuses on the changes in total revenue and total cost from selling one more unit to find the most profitable price and quantity |
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| the changes in total revenue that results from the sale of one more unit of a product |
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| rule for maximizing profit |
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Definition
| the highest profit is earned at the price where marginal cost is just less than or equal to marginal revenue |
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| usually sets a price for all to follow |
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| setting prices that will capture some of what customers willl sav by substituing the firm's product for the one currently being used |
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| the price they expect to pay for many of the products they buy |
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| setting some real bargains to get customers into retail stores |
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| setting some very low prices to attract customers but trying to sell more expensive models or brands once the customer is in the store |
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| setting prices that have special appeal to target customers |
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| setting prices that end in certain numbers. (24.95) |
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| setting afew price levels for a product line and then marking all items at these prices |
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| setting a rather high price to suggest high quality or high status |
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| setting prices for a whole line of products |
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| complementary product pricing |
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| setting prices on several products as a group. maybe setting one price low, and the other high to make up for the low one |
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| setting one price for a set of products |
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| means offereing a specific price for each possible job rather than setting a price that applies for all customers |
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| everyone in the organization is concerned about quality, throughout all of the firms' activities, to better serve customers needs |
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Definition
| a commitment to constantly make thigns better one step at a time |
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| a graph that shows the number of times a problem occur |
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| a visual aid that helps organize cause and effect relationships for things gone wrong |
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| giving employees the authority to correcct a problem without first checking with management |
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| picking a basis of comparison for evaluating how well a job is being done |
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| a detailed breakdown of a company's sales records |
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| looks for exceptions or variations from planned performance |
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| a number like a baseball batting average thtat shows the relation of one value to another |
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| much good information is hidden in summary data |
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| all costs are allocated to products customers or other categories |
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| money to pay for short term expenses |
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| a share in ownership of the company |
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| borrowing money based on a promise to repay the loan |
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| the firm is primarily a coordinator, with a good marketing concept |
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| using telecommunications to move service operations to places where there are pools of skilled workers |
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| tailoring the principles of mass production to meet the unique needs of individual customers |
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| categories to which various costs are charged in the normal financial accounting cycle |
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| shows the purpose for which expenditures are made |
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| what a whole market segemnt might buy |
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| an estimate of how much an idustry or firm hopes to sell to a market segment |
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| extends past expeerience into the future...extending the trends of the past |
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| tries to forecast sales by finding a relation between the company's sales and some other factor |
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| historical records of the fluctuations in economic variables |
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| a time series that changes in the same direction but ahead of the series to be forcast |
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| statistical combinations of several time series in an effort to find some time series that will lead the series they're trying to forcast |
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| combines the opinions of experienced executives |
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Definition
| selling the right to use some process, trademark, patents, or other right for a afee or royalty |
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| turning over production ot others while retiaining the marketing process |
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| means the seller provides only management skills, others own the production and distribution facilities |
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| when a domestic firm enters into a partnership with a foreign firm |
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| a separate firm, owned by a parent company |
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| a separate firm, owned by a parent company |
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