Reading...
Play button
Play button
Use LEFT and RIGHT arrow keys to navigate between flashcards;
Use UP and DOWN arrow keys to flip the card;
H to show hint;
A reads text to speech;
22 Cards in this Set
- Front
- Back
|
Acceptable Price Range
|
All prices around the reference price that consumers believe reflect good value.
|
|
|
Countertrade
|
Government mandates that imported products cannot be paid for with cash; instead, companies from the exporting nation are required to purchase products of equivalent value from the importing nation.
|
|
|
Customer Intimacy
|
The value strategy designed to create close relationships with customers.
|
|
|
Everyday Low Prices
|
Prices that, on average, are consistently lower than those of competitors.
|
|
|
Going Rate
|
When no competitors have power over others, prices evolve over time to a similar level.
|
|
|
List Price
|
The price at which a product is referenced to consumers.
|
|
|
Market Price
|
The actual price buyers are expected to pay for a product.
|
|
|
Operational Excellence
|
The value strategy designed to produce lower costs that competitors while achieving high quality.
|
|
|
Penetration Pricing
|
A strategy that appeals to a maximum number of buyers by charging low prices.
|
|
|
Pricing Ceiling
|
The top end of a price range.
|
|
|
Price Umbrella Leadership
|
One or two companies price in such a way that others follow at a lower level.
|
|
|
Price Skimming
|
A strategy designed to obtain a very high price from relatively few consumers, who have the resources and desire to buy irrespective of price.
|
|
|
Price Umbrella
|
The Leader maintains the price at a high enough level that competitors can earn a profit at that or lower levels.
|
|
|
Price Wars
|
Cuts by one company spur similar reductions by competitors, resulting in price-slashing battles that can adversely affect profitability.
|
|
|
Product Leadership
|
The value strategy that builds value by differentiating the product.
|
|
|
Promotional Pricing
|
Price discounts are used to get attention and encourage immediate purchase.
|
|
|
Reference Price
|
The amount consumers expect to pay.
|
|
|
Slide Down the Demand Curve
|
Set a high price when a product is introduced and then lower it significantly as competitors enter the market.
|
|
|
Target Pricing
|
Use price to reach a particular market segment.
|
|
|
Value-Based Pricing
|
A strategy that reflects value not just cost.
|
|
|
Value in Exchange
|
An objective statement of worth based on the competitive marketplace.
|
|
|
Value in Use
|
A subjective consumer estimate of the benefits of a particular product.
|
