Chapter 14 Pricing II Flashcards

1
Q

Odd-even pricing

A

Setting prices either few cents or dollars under even number.

$500- $499.99
$200,000- $197,500

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2
Q

Prestige pricing. give examples

A

Setting a high price with the purpose of attracting status-conscious consumers.

Rolex
Omega
Bentley

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3
Q

Bundle pricing

A

Marketing two or more products or services bundle for a lower price than would be charged for items individually

example 5 for $4

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4
Q

What are the four approaches for selecting an approximate price level?

A

Demand-oriented approaches, Cost-oriented approaches, profit-oriented approaches, and competition-oriented approaches

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