Price Flashcards
1
Q
price skimming
A
setting high price for a product when it first enters the market
2
Q
Penetration pricing
A
launching new product at low price for fast sales
increased market share to establish a market leader
3
Q
competitive pricing
A
matching prices that competitors charge
if products are similar, price becomes an important factor that influences customers decision
4
Q
Loss leader
A
product sold at loss to make customer buy other items from business to make a profit
5
Q
Cost plus pricing
A
products are priced by covering the cost of it to the retailer and adding a percentage on top
