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Marketing Principles
Pricing
Term | Definition |
---|---|
An internal factor affecting pricing decisions | Costs |
Businesses setting a high price when the market is price-insensitive | Market-Skimming |
Abbreviation of Revenue per available seat hour | RevPASH |
With an understanding of price elasticity, sellers should know that the less elastic the demand for their product is, the more advantageous it is for them to ________ | Raise price |
_______ pricing is the approach of setting a low initial price in order to attract a large number of buyers quickly and win a large market share. | Market-penetration |