Reading...
Play button
Play button
Use LEFT and RIGHT arrow keys to navigate between flashcards;
Use UP and DOWN arrow keys to flip the card;
H to show hint;
A reads text to speech;
19 Cards in this Set
- Front
- Back
|
The amount of money charged for a product or service
|
Price
|
|
|
Focusing on buyers perception of value rather than sellers cost as key pricing
|
Value based pricing
|
|
|
(T/F) Price is chosen before the marketing marketing program is set
|
False, you cant design a product then determine price.
|
|
|
Product driven price
|
Cost based pricing
|
|
|
First step in the value based pricing model
|
Access customer value perception
|
|
|
Second step in the value based pricing model
|
Set target price to match perceived value
|
|
|
third step in the value based pricing model
|
Determine costs
|
|
|
Fourth step in the value based pricing model
|
Design product to deliver value at determined price
|
|
|
First step of cost based pricing
|
Design a good product
|
|
|
Second step of cost based pricing
|
Determine product costs
|
|
|
Third step of cost based pricing
|
Set price based on cost
|
|
|
Fourth step of cost based pricing
|
convince buyers of products value
|
|
|
Offering the right combination of quality and good service at the right price
|
Food value based pricing
|
|
|
Charging a consistent low price with few or not temporary price discounts
|
EDLP Everyday low pricing
|
|
|
Charging high prices but frequently giving discounts
|
high low pricing
|
|
|
The power to ecscape price competetion and justify higher prices without losing market share
|
Pricing Power
|
|
|
Rather then cutting prices i add value to my priduct, this is
|
value added pricing
|
|
|
Costs that do not vary with sales
|
fixed cost
|
|
|
Costs that vary directly with level of production
|
varible costs
|
