pricing strategies

Question 1

skimming pricing strategy

Answer 1

aka market plus pricing. Pricing strategy involving the use of a high price relative to competitive offerings.

Question 2

penetration pricing strategy

Answer 2

pricing strategy involving the use of a relatively low entry price compared with competitive offerings. Based on the theory that initial low prices will help secure market acceptance.

Question 3

competitive pricing strategy

Answer 3

deemphasizes price as a competitive variable by pricing a good or service at the level of comparable offerings.

Question 4

psychological pricing

Answer 4

policy based on the belief that certain prices makes products more appealing to customers.

Question 5

promotional pricing

Answer 5

lower than normal price is used as a temporary ingredient in a firms marketing strategy.

Question 6

how to negotiate prices online?

Answer 6

competitive bidding