pricing strategies Flashcards
(5 cards)
1
Q
what is price skimming
A
firms charge high price to start with and then lowers price to access mass market. eg: apple
2
Q
what is price discrimination
A
firms charge different prices to different consumers
3
Q
competition pricing
A
firm has to charge a similar price to other firms, happens when theres lots of choice
4
Q
psychological pricing-
A
charging a price that makes the customer believe itc cheaper, eg: £9.99 instead of £10.00
5
Q
loss leader pricing
A
selling of products at or below the cost of making the product to draw in customers
