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Business Unit 2 > Pricing Strategies > Flashcards

Pricing Strategies Flashcards

1
Q

What is loss leader

A

Price not profitable but it’s used to attract customers

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2
Q

What’s is cost plus pricing

A

Add a % on a product so it can make a profit

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3
Q

What is price skimming

A

Setting a high price to boost profits

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4
Q

What is competitive pricing

A

Set a price for products based on rivals

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5
Q

What is penetration pricing

A

Set a low price to boost sales

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6
Q

What is a sponsorship

A

A company which pays to be associated with specific events

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7
Q

What is retained profit

A

Profit kept in the company

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8
Q

What is advertising

A

Business pays for messages of itself in maas and media

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9
Q

What is current liabilities

A

Money to be paid back within a year

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10
Q

What is net current assets

A

Money spent in a business in its day to day operations

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11
Q

What is profit margins

A

The amount by which revenue from sales exceed costs in a business

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12
Q

What is selling unwanted assets

A

The seller gains ownership of some form of cash

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13
Q

What is direct marketing

A

Forms make individuals contact with customers using junk mail

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14
Q

What is piece rate

A

Use a payment for each item produced

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15
Q

What is share issue

A

Companies pass on new shares to shareholders

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16
Q

What is capital

A

Wealth in the form of money or other assets owned by a person or an organisation or available for a purpose such as starting a company

17
Q

What is cost of sales

A

Direct cost related to manufacturing of purchasing of a good that is sold to a customer

18
Q

What is loso

A

Expenditure is more than revenue

19
Q

What is profit sharing

A

Where employees receive a proportion of business profits

20
Q

What is a profit

A

When revenue is more than expenditure

21
Q

What is sales promotion

A

Encourages customers to buy now rather than later

Business Unit 2 (13 decks)

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