Price Flashcards
1
Q
What is price penetration?
A
Setting a low price initially to gain customers interst in a product
2
Q
What is competitive pricing?
A
When you put the price similar to other competition
3
Q
Whats price skimming?
A
Putting a price high and gradually putting it lower
4
Q
What may effect the price of a product?
A
Product life cycle
5
Q
What is needed for a succseful price skimming?
A
Customers willing to pay a low price
