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11 Cards in this Set
- Front
- Back
Cost-Based
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determines the final price to charge by starting with costs
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Competitor-based Pricing
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set prices to reflect the way they want consumers to interpret their own prices relative to the competitors' offerings
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Value-based Pricing
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setting prices that focus on the overall value of the product offering as perceived by the consumer
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Everyday Low Pricing
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companies stress the continuity of their retail prices at a low level
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Odd Pricing
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prices that end in odd numbers, usually 9
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Price Skimming
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the use of a high price relative to competitive offerings
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Price Penetration
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use of a relatively low entry price as compared with competitive offerings
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Deceptive Reference Price
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if an advertisement specifies a regular price but it may not be regular
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Loss Leader Pricing
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lowers the price below the stores cost
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Bait and Switch
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when a seller advertises an item for a very low price with no intent to sell it
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Predatory Pricing
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when a firm sets a very low price with the intent to drive its competition out of business
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