Fichas
Marketing Mix - Price
Fichas del conjunto (23)
- 1That which is given up in an exchange to acquire a good or service.PRICE
- 2The price charged to customers multiplied by the number of units sold.Revenue
- 3Revenue minus ExpensesProfit
- 4Objectives that include profit maximization, satisfactory profits, and target return on investment.Profit-Oriented Pricing Objectives
- 5Net Profit after taxes divided by total assets. Can predetermine desired level of profitability.Return on Investment
ROI - 6Pricing objective based either on market share or on dollar or unit sales.Sales Oriented Pricing Objectives
- 7A company's product sales as a percentage of total sales for that industryMarket Share
- 8A pricing objective that maintains existing prices or meets the competition's prices.Status Quo Pricing
- 9The quantity of a product that will be sold in the market at various prices for a specified period.Demand
- 10The quantity of a product that will be offered to the market by a supplier at various prices for a specified period.Supply
- 11The price at which demand and supply are equal.Price Equilibrium
- 12Consumers' responsiveness or sensitivity to changes in price.Elasticity of Demand
- 13A situation in which an increase or a decrease in price will not significantly affect demand for the product.Inelastic Demand
- 14A cost that varies with changes in the level of output.Variable Cost
- 15A cost that does not change as output (production) increases or decreases.Fixed Cost
- 16The change in total costs associated with a one unit change in output. The cost of that next unit produced.Marginal Cost (MC)
- 17The cost of buying the product from the producer plus amounts for profit and for expenses not otherwise accounted for.Markup Pricing
- 18The practice of marking up prices by 100% or doubling the cost.Keystoning
- 19A method of determining what sales volume must be reached before total revenue equals total costs.Break-Even Analysis
- 20A basic, long-term pricing framework, which establishes the initial price for a product and the intended direction for price movements over the product life cycle.Price Strategy
- 21A pricing policy whereby a firm charges a high introductory price, often coupled with heavy promotion.Price Skimming
- 22A pricing policy whereby a firm charges a relatively low price for a product initially as a way to reach the mass market.Penetration Pricing
- 23An agreement between two or more firms on the price they will charge for a product.Price Fixing
Información
- Descripción
- These are review cards for high school marketing.
- Creado por
- Kathleen Keller
- Visitas
- 31
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- Valoración