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25 Cards in this Set
- Front
- Back
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advertising |
informing and encouraging customers about and to buy products |
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branding strategy |
carrying well-known brand names to attract customers who are loyal to that brand |
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cost-plus pricing |
setting a price based on production cost plus markup |
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cost-push inflation |
rising prices as a result of rising production cost |
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deception |
false or misleading claims about the quality, price, or purpose of a product |
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deflation |
decrease in general level of prices for goods and services |
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demand-pull inflation |
higher prices at a result of higher demand and low supply |
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direct advertising |
distribution of product information directly to consumers |
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disinflation |
rising prices w/ the rate of increase slowing down |
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economizing |
saving as much as possible and spending only what's necessary |
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hyperinflation |
rapidly rising prices that are out of control |
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inflation |
increase in general level of prices for goods and services |
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low-balling |
advertising a basic service at an unusually low price and then claiming additional repairs or services are needed |
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market-based pricing |
setting prices to be competitive w/ prices of similar products currently being sold |
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markup |
the percentage amount added to production and to obtain the price |
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normal profit |
a profit that allows a business to survive and grow |
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optimizing |
getting the highest value for the money spent |
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pop-up adds |
internet ads that open a new window in front of the original page
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rational buying |
process of selecting goods and services based on need, want, and logical choices |
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real cost inflation |
rising prices due to scarce/difficult resources |
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space-shifting |
copying the contents from one form of media to another for personal use |
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target audience |
a specific group of people who are likely to buy a product |
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time-shifting |
recording a video or audio for later viewing/listening |
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time value of money |
a concept that says a dollar you receive in the future will be worth less than on today |
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value based pricing |
setting prices based on how much consumers are willing to buy |
