Chapter 7- pricing strategies Flashcards
1
Q
cost plus pricing
A
setting a price by adding a fixed amount or percentage to the cost of making the product
2
Q
penetration pricing
A
setting a low price to gain sales
3
Q
price skimming
A
setting a high price before other competitors come into the market
4
Q
predatory pricing
A
setting a low price to knock out all competition
5
Q
competitor pricing
A
setting a price based on competitors prices
6
Q
price discrimination
A
setting different prices for the same good but to different markets
7
Q
psychological pricing
A
a price just below a large number to make it seem smaller
