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Related Flashcards
Related Topics
Cards In This Set
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Price
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The amount of money that is charged for "something" of value.
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Target Return Objective
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Sets a specific level of profit as an objective (often this amount is stated as a percentage of sales or of capital investment)
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Profit Maximization Objective
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Seeks to get as much profit as possible (it may be stated as a desire to earn a rapid return on investment)
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Sales-oriented Objective
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Seeks some level of unit sales, dollar sales,or share of market - without referring to profit
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Status Quo Objectives
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Managers who are satisfied with their current market share and profits adopt don't-rock-the-pricing-boat objectives.
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Nonprice Competition
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Aggressive action on one or more of the P's other than Price.
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Administered Prices
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Consciously set prices (instead of letting daily market forces decide their prices, most firms set their own prices)
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One-price policy
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Offering the same price to all customers who purchase products under esentially the same conditions and in the same quantities
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Flexible-price Policy
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Offering the same product and quantities to different customers at different prices.
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Skimming Price Policy
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Tries to sell the top of a market - the tope of the demand curve - at a high price before aiming at more price-sensitive customers.
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Penetration Pricing Policy
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Tries to sell the whole market at one low price.
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Introductory Price Dealing
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Temporary price cuts- to speed new products into a market and get customers to try them.
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Basic List Prices
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The prices final customers or users are normally asked to pay for products
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Discounts
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Reductions from list price given by a seller to buyers who either give up some marketing funtion or provide the funtion themselves
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Quantity Discounts
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Discounts offered to encourage customers to buy in larger amounts.
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