Exchange value of a good or service.
The most comprehensive legislation in Canada, designed to help both consumers and businesses by promoting a healthy competitive environment.
Point at which the additional revenue gained by increasing the price of a product equals the increase in total costs.
Short-run or long-run pricing objectives of achieving a specified return on either sales or investment.
Profit Impact of Market Strategies (PIMS) Project
Research that discovered a strong positive relationship between a firm's market share and product quality and its return on investment.
Pricing strategy emphasizing benefits derived from a product in comparison to the price and quality levels of competing offerings.
Traditional prices that customers except to pay for certain goods and services.
Measure of responsiveness of purchasers and suppliers to a change in price.
Pricing technique used to determine the number of products that must be sold at a specified price to generate enough revenue to cover total cost.
Modified Breakeven Analysis
Pricing technique used to evaluate consumer demand by comparing the number of products that must be sold at a variety of prices to cover total cost with estimates of expected sales at the various prices.
Pricing strategy that allows marketers to vary prices based on such factors as demand, even though the cost of providing those goods or services remains the same; designed to maximize revenues in situations such as airfares, lodging, auto rentals, and theatre tickets, where costs are fixed.