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Examples 5.2 SEM

Practice for the quiz

TermDefinition
Underarmour Sweatshirt Prestige pricing
Labubu Prestige pricing
Target $1 section Odd-even (conveys quality)
Amount over cost Profit
Higher price conveys Higher quality (Customer perception)
Lexus, Acura, Cadillac, Porsche Prestige pricing
Cannot charge this amount because there is no profit Cost
Difference between the cost and sale price Markup or profit
Adding $5000 to the cost of each car. What strategy? Cost-Plus Pricing
Pizza comes out hot and fresh Non-Price Competition
School store sales/all school stores' sales Market share, percentage
Good, better, best Price Lining
3 for $1 (or .50 each) Price Bundling
Free bag of potatoes with $20 purchase Loss-Leader Pricing
Seating: Nose bleed, regular, floor, VIP Yield Management Pricing
End of season clearance at Walmart Discount
All steak houses in Eau Claire meet once a month. They have decided to raise the rates together by $5 a steak Price fixing
Kwik Trip monitors all of their stores and raises rates as news comes in that prices are going up. None (Not illegal)
Chinese restaurant decides to lower prices, so competitors no longer get business. Predatory pricing
Charging a woman $5 and a man $4 for same item Price discriminatin
Charing a person with a 750 FICO score (excellent credit) less than someone with a 600 (poor). None (This is what actually happens)
One person pays $14000 with purchase price and interest while another pays $21000 for same vehicle. Based on their job and ability to pay the loan back. None (This is legal)
Charging someone dressed nicely more than someone dressed poorly Price discrimination (But very hard to prove since usually it's on one of a kind items like a car)
Created by: user-2042404
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