Marketing: Pricing Strategy

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Created by: Ailish
Created on: 05-05-13 17:19

Penetrration Pricing

Starts with a lower price to try and capture a share of the market and when it does it will slowly increase the price.

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Skimming

Starts with a high price and then this is lowered as the product gets older.

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Psychological Pricing

Pays attention to the affect that a price will have on the way a customer thinks.

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Competitive Pricing

The price is set according to the price of competitiors products.

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Cost Plus Pricing

This is where a business will add profit mark-up to the cost of making the product COST+PROFIT. It is often used by small businesses as it is quick and easy but may not be very competitive.

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Other cards in this set

Card 2

Front

Starts with a high price and then this is lowered as the product gets older.

Back

Skimming

Card 3

Front

Pays attention to the affect that a price will have on the way a customer thinks.

Back

Card 4

Front

The price is set according to the price of competitiors products.

Back

Card 5

Front

This is where a business will add profit mark-up to the cost of making the product COST+PROFIT. It is often used by small businesses as it is quick and easy but may not be very competitive.

Back

Comments

Mama Murtagh

Report Mon 16th May, 2016 @ 10:49

Have not seen a better quiz available for the students and they have been very surprised with their quick feedback and their excelling skills in Business.

Mama Murtagh

Report Mon 16th May, 2016 @ 10:51

I would recommend this quiz to any who are looking to get an A* in the GCSE business paper as it has some seriously challenging questions. However with the feedback is a great addition.

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