Chapter 11
Marketing 3013 with Basuroy at University of Oklahoma
About this deck
By: Lauren Jones
Textbook:
Principles of Marketing (13th Edition)
Created: 2011-10-27
Size: 17 flashcards
Views: 19
Textbook:
Principles of Marketing (13th Edition)Created: 2011-10-27
Size: 17 flashcards
Views: 19
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Market-skimming pricing
strategy with high initial prices to skim revenue layers from the market
Market penetration pricing
sets a low initial price in order to penetrate the market quickly and deeply to attract a large number of buyers quickly to gain market share
Product line pricing
takes into account the cost differences between products in the line, customer evaluations of their features, and competitor's prices
Optional- product pricing
takes into account optional or accessory products along with the main product
Captive- product pricing
involves products that must be used along with the min product
By-product pricing
refers to products with little or no value produced as a result of the main product. producers will seek little or no profit other than the cost to cover storage and delivery
Product bundle pricing
combines several products at a reduced price
Discount and allowance pricing
reduces prices to reward customer responses such as paying early or promoting the product
Segmented pricing
used when a company sells a product at two or more prices even though the difference is not based on cost
Reference prices
prices that buyers carry in their mind and refer to when looking a a given product
-noting current prices
-remembering past prices
-assessing the buying situations
-noting current prices
-remembering past prices
-assessing the buying situations
Promotional pricing
when prices are temporarily priced below list price or cost to increase demand
-loss leader
-special event pricing
-cash rebates
-low interest financing
- longer warrantees
-free maintenance
-loss leader
-special event pricing
-cash rebates
-low interest financing
- longer warrantees
-free maintenance
Dynamic Pricing
prices are adjsted continually to meet the characteristics and needs of the individual customer and sitations
Price Fixing
Sellers must set prices without _______ to competitors
Predatory Pricing
Selling ______cost with the intention of __________ a competitor or gaining higher long-term profits by putting competitors out of business
Robinson-Patman Act
prevents unfair price ____________ by ensuring that the seller offer the same price terms to customers at a given level of trade
Retail (or resale) price maintenance
is when a manufacturer requires a dealer to charge a _______ retail price for its products
Deceptive pricing
occurs when a seller states prices or price savings that _________ consumers or are not actually available to consumers
About this deck
By: Lauren Jones
Textbook: Principles of Marketing (13th Edition)
Created: 2011-10-27
Size: 17 flashcards
Views: 19
Textbook:
Principles of Marketing (13th Edition)Created: 2011-10-27
Size: 17 flashcards
Views: 19
About StudyBlue
STUDYBLUE makes things that make you better at school.
Things like online flashcards with photos and audio.
Things like personalized quizzes and friendly reminders about when (and what) to study next.
Think of it as a digital backpack™: access to all of your study materials online and on your phone.
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