Marketing 3 Exam Flashcards
1
Q
Pricing Definition
A
A price (p) is the money or other consideration (including other products and services) exchanged for the ownership or use of a product or service
2
Q
Price Equation
A
List - (Incentives +Allowances) + Extra Fees = Final Price
3
Q
Value Equation
A
Value = perceived benefits - costs
4
Q
Profit equation
A
Profit = total revenue - total costs OR Profit = (unit price x quantity sold) - (fixed cost + variable cost)
5
Q
Razors and Blades and Disneyland pricing
A
6
Q
A
