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Princ. of Marketing

Kotler, Armstrong, Principles of Marketing 11th ed, Ch 11 vocab

Market-skimming pricing Setting a high price for a new product to skim maximum revenues layer by layer from the segments willing to pay the high price—the company makes fewer, but more profitable sales
Market-penetration pricing Setting a low price for a new product in order to attract a large number of buyers and a large market share
Product line pricing Setting the price steps between various products in a product line based on cost differences between the products, customer evaluations of different features, and competitors’ prices
Optional-product pricing The pricing of optional or accessory products along with a main product
Captive-product pricing Setting a price for products that must be used along with a main product, such as blades for a razor or film for a camera
By-product pricing Setting a price for by-products in order to make the main product’s price more competitive
Product bundle pricing Combining several products and offering the bundle at a reduced price
Discount A straight reduction in price during a stated period of time
Allowance Promotional money paid by manufacturers to retailers in return for an agreement to feature the manufacturer’s products in some way
Segmented pricing Selling a product or service at two or more prices, where the difference in prices is not based on differences in costs
Psychological pricing A pricing approach that considers the psychology of prices and not simply the economics—the price is used to say something about the product
Reference prices Prices that buyers carry in their minds and refer to when they look at a given product
Promotional pricing Temporarily pricing products below the list price, and sometimes even below cost, to increase short-run sales
FOB-origin pricing A geographical pricing strategy in which goods are placed free on board a carrier—the customer pays the freight from the factory to the destination
Uniform-delivered pricing A geographical pricing strategy in which the company charges the same price plus freight to all customers, regardless of their location
Zone pricing A geographical pricing strategy in which the company sets up 2 or more zones. All customers within a zone pay the same total price—the more distant the zone, the higher the price.
Basing-point pricing A geographical pricing strategy in which the seller designates some city as a basing point and charges all customers the freight cost from that city to the customer
Freight-absorption pricing A geographical pricing strategy in which the seller absorbs all or part of the freight charges in order to get the desired business
Created by: cannons