Pricing Flash Cards

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created 9 years ago by LucyPratt
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One-Price Policy

Definition of one price policy: A pricing strategy in which the same price is offered to every customer who purchases the product under the same conditions.

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Flexible-Price Policy

Definition of flexible pricing: Method of selling where the prices are open to negotiations between buyers and sellers, and allow for ... flexible premium policy ...

3

Loss Leader Pricing

A loss leader, or simply a leader, is a product sold at a low price, at or below its market cost to stimulate other sales of more profitable goods or services.

4

Odd/Even Pricing

Definition of odd even pricing: Psychological pricing method based on the belief that certain prices or price ranges are more appealing to buyers.

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Prestige Pricing

Definition of prestige pricing: Marketing strategy where prices are set higher than normal because lower prices will hurt instead of helping sales.

6

Multiple Pricing

Multiple pricing occurs when a supplier displays more than one price for the same item or service. If a supplier displays the same item with more than one price.

7

Promotional Pricing

This Sears ad is an excellent example of promotional pricing. According to Kotler, promotional pricing occurs when "companies will temporarily ...

8

Price Lining

price lining definition: Pricing a product at different levels in order to appeal to different segments of the market. For example, an appliance manufacturer creates.

9

Bundle Pricing

Definition of product bundle pricing: A marketing ploy in which several products are offered for sale in one combined unit that is often marked at a reduced price.

10

Bait and Switch pricing

Definition of bait and switch pricing: Illegal practice of 'baiting' customers with unrealistically low prices to bring them into the store, and then trying to sell them.