pricing strategies Flashcards
1
Q
pricing strategies
A
coast based, competitor based, value based
2
Q
cost-based pricing
A
setting prices based on the costs of producing, distributing, and selling the product plus a fair rate of return for effort and risk
3
Q
competitor based pricing
A
involves setting prices based on competitors’ strategies, prices, costs, and market offerings
4
Q
value based pricing
A
setting the price at a level that seems to the customer to be a good price compared to the prices of other options
5
Q
market penetration pricing
A
setting a low price for a new product in order to attract a large number of buyers and a large market share
