3.06 pricing defs
Quiz yourself by thinking what should be in
each of the black spaces below before clicking
on it to display the answer.
Help!
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| deceptive pricing | false or misleading statement in advertising
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| bait and switch advertising | customers baited by advertising a low price, then customers are switched to a costlier product
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| loss-leader pricing | product sold at a low price to stimulate other profitable sales
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| price discrimination | firm chargers different prices to similar customers in similar situations
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| clayton antitrust act of 1914 | price discrimination as creating unfair competition
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| robinson patman act | a law to strengthen the clayton act, prohibits sellers fro offering one customer one price and another customer a different price
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| price fixing | an agreement among competitors to raise, fix, or otherwise maintain the price at which their goods or services are sold
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| predatory pricing | the practice of selling a product or service at a very low price, intending to drive competitors out of the marktet
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| dumping | any kind of predatory pricing, especially international trade
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| resale price mantenance | manufacturers try to force retailers to sell their products at a certain price,, if the retailer dropped the price too low, the manufacturer would punish the retailer by withholding merchandise or refusing discount
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| pricing decisions | mus consider transportation, production and selling cost
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| price | what customer pays for the product
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| cost | expense that a business has for the product
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