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FOB Chpt. 15

Chapter 15: Pricing

TermDefinition
Skimming introductory pricing approach; setting the highest price for extremely interested customers
Penetration Pricing introductory pricing approach; initial low price to increase volume, discourage competition, and increase market share
Cost-based Pricing cost to produce for B2B selling, set price for desired profit (missiles for the gov't)
Demand-based Pricing how much customers are willing to pay for a product
Dynamic Pricing driven by the retailer/supplier, consumer has no control, seasonal (hotels)
Prestige Pricing based on consumer demand, artificially high price to create the impression of high quality products
Odd-even Pricing For only $9.99!
Loss-leaders pricing products at loss to draw customers
Bundling pricing a group of items at a discount to the cost of buying items separately
Markup Cost to produce = $10 (variable + fixed cost) Price to retailer = $20 (markup = 100%)
Created by: naddotey
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