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Marketing Mngt2

Vocabulary Terms Chpt 11

QuestionAnswer
settign initial high prices for your new product in order to scope out the buyer Market skimming pricing
setting initial low prices so a lot of people will buy your product quickly market penetrating pricing
pricing different items within your product line at different values. ie Michael Kors shoe collection product line pricing
offering additional "add on" products to accompany the product ex GPS navigation optional product pricing
pricing products that have to be used with the main product ex; razors captive product pricing
pricing low-value byproducts to get rid of them by-product pricing
pricing bundles of products sold together ie; combo meal product bundle pricing
a reduction in the price a person pays for a product discount
reducing or allowing customers to trade in a product, in reward of the customer allowance
adjusting prices to allow for differences in customers, products, or locations segmented pricing
when customers belive in the psycological effect of a product rather than economic ie; $3 worth od scent for $100 psychological pricing
prices customers keep in their mind and refer to when looking at a product reference pricing
list price of their product below normal price to create buying excitement promotional pricing
setting prices all around the world geographical pricing
goods were placed free on board and customer must pay freight costs FOB orgin pricing
company charges same price plus freight to everyone uniform- delivered pricing
the more distant the zone, the higher the price zone pricing
a company chooses a city and anything from that city to the customer costs money basing point pricing
seller doesnt apply any freight charges bcause they are urgent to get the business freight- absorption pricing
adjusting prices to fit the needs of individual customers and situations dynamic pricing
Created by: trgresham
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