see the price as the oppourtunity cost of making the purchase
1 of 6
price: Sellers
for them the price represents revenue and so affects profits
2 of 6
price: the government
they are concerned about prices, since they determine inflation
3 of 6
price is effected by
1. market conditions 2. production costs 3. market structure 4. taxes and subsidies 5. business objectives 6. marketing mix
4 of 6
short term pricing strategies
1. penetration pricing- initially low price, establishing a new product 2. market skimming-high price because of usp, maximum price there is no alternative product 3. discounts and sales-used for discontinued,unfashionable products 4.loss leader
5 of 6
long term pricing strategies
1.demand-price is effected by demand 2.costs- a starting point 3.competiton-the number of competitiors influences price 4.psychological- prices to influence consumer perception (designer)
6 of 6
Other cards in this set
Card 2
Front
for them the price represents revenue and so affects profits
Back
price: Sellers
Card 3
Front
they are concerned about prices, since they determine inflation
Back
Card 4
Front
1. market conditions 2. production costs 3. market structure 4. taxes and subsidies 5. business objectives 6. marketing mix
Back
Card 5
Front
1. penetration pricing- initially low price, establishing a new product 2. market skimming-high price because of usp, maximum price there is no alternative product 3. discounts and sales-used for discontinued,unfashionable products 4.loss leader
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