Marketing Chapter 25 Flashcards Preview

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Flashcards in Marketing Chapter 25 Deck (7):
1

Marketing position

Show a business relative standing in a sales volume comparison among competitors

2

Price

When sales revenue equals the cost and expenses of making and distributing a product

3

Price fixing

An agreement among competitors to establish price ranges

4

Loss leader

An item priced at cost to attract customers

5

What is the return of investment formula?

Total profit
Divided
Total cost

6

What is the break even formula?

Selling price
Divided
Total cost

7

Demand elasticity

The degree to which consumers desires for a product are affected by price

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