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7 Cards in this Set
- Front
- Back
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Is a unit value of an ovject expressed in terms of money |
Price |
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Profit oriented- achieving a target rate of return and maximizing profit Sales-oriented-increasing sales volume and maintaining market share Status quo oriented-stabilizing prices and meeting competition |
Classification of prices -3 and the differences |
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Cost based pricing Demand based Competition based |
3 basic methods of price determination and teh differences |
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Sp=total cost +(mark up perc3ntagr ×cost) |
Cost plus formula in determining the selling price |
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Desired roi per unit/total unit cost |
Formula of mark up percentage under cost-plus pricing |
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Also called predatory pricing- sets low price when entering new market dominated by existing players |
Penetration pricing |
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Psychological pricing Price skimming Price gouging |
Issues involved in the strategic pricing of new products and differentiate |
