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Marketing Essentials--Chapter 25
Terms in this set (12)
the value of money placed on a good or service
Marketers' relative standing in relation to their competitors.
return on investment
calculation that is used to determine the relative profitability of a product
point when sales revenue equals the costs and expenses of making and distributing a product
change in price creats a change in demand
law of diminishing marginal utility
consumers will buy only so much of a given product, even though the price is low
when a change in price has little effect on demand for the product
when competitors agree to set price within certain ranges.
a firm charges diferent prices to similar customers in similar situations
A good or service sold at less than market price in order to attract consumers
The use of a standard unit of measuring to compare the prices of packages that are different sizes.
a firm's percentage of total sles volume generated by all competitors in a given market
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