Value
Anticipated Satisfaction
Rate of Return
#NAME?
Break Even Point
the point where sales revenue equals the costs and expenses of making and distributing a product
Price Fixing
When competitors agree to certain price ranges
Price Discrimination
charging different prices to different customers in similar situations
Unit Pricing
- including price information for a standard unit of measure
Loss Leader
item priced at or below Break Even Point
Price
The value in money (or equivalent) placed on a good or service
Market Share
A firm's percentage of total sales volume generated by all competitors in a given market
Return on Investment
a calculation used to determine the relative profitability of a product
Cost-Oriented Pricing
determine cost first
Mark-Up Pricing
Cost + a specific percentage.
Cost-Plus Pricing
Cost + a specific dollar amount
Demand-Oriented Pricing
based on what consumers are willing to pay - perceived v
Competition-Oriented Pricing
based on what competitors are charging (at, below, above)
Multiple Unit Pricing
offering more than one unit of an item in a package at a single price
Prestige Pricing
higher than average pricing to suggest status and high quality to consumer
Bundle Pricing
offering complimentary products in a package sold at a single price
Promotional Pricing
prices are reduced for a temporary period of time, generally used in conjunction with sales promotions
Everyday Low Pricing (EDLP)
setting prices low with no intention of raising or offering discounts in the future