Price Flashcards
1
Q
What is high volume pricing?
A
A pricing strategy designed to increase the volume of sales
2
Q
What is high margin pricing?
A
Pricing strategy that aims to maximise the profit margin of the business
3
Q
Internal factors that influence pricing decisions
A
Technology- can increase the price needed to be sold at
Method of production- flow,batch,job
Product life cycle- depends at what stage
4
Q
External factors that influence pricing decisions
A
Competition- competitive price
Market segments
Cost of raw materials- affect cost per unit
