Pricing Strategies Flashcards
(7 cards)
1
Q
price skimming?
A
prices start high, then go lower
2
Q
penetration?
A
price starts low, then increases
3
Q
price discrimination?
A
different prices charged for same product to customer groups
4
Q
perceived quality?
A
price reflects perceived value placed by customer on product
5
Q
going rate?
A
match competition
6
Q
cost plus pricing?
A
adding a mark-up to the cost of the product
7
Q
price elasticity of demand?
A
the degree to which demand is affected by changes in the selling price
