Chaper 2/3

Question 1

penetration pricing

Answer 1

uses slow initial price is to gain market share and slowly increase the price

Question 2

economy pricing

Answer 2

offers basic products with the lowest price possible

Question 3

skimming’s

Answer 3

A price strategy that sets high initial product prices that then slowly decreases

Question 4

bundle pricing

Answer 4

when companies include many different products under one price

Question 5

promotional pricing

Answer 5

hello’s businesses to offer additional benefits to consumers

Question 6

cost leadership strategy

Answer 6

offers the lowest price and the target market or value ratio

Question 7

differentiation strategy

Answer 7

Differenciate your product in someway to compete in a credit market

Question 8

niche

Answer 8

where does your product fit and in what target market

Question 9

Focus strategy

Answer 9

concentrating on a particular customer or a product line

Question 10

Price strategy

Answer 10

businesses who develop pricing strategies