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Chapter 13 Types of pricing
Only the terms that is related to pricing and difficult terms.
an item that becomes part of a physical product and is either a finished item ready for assembly or a product that need little processing before assembly
a material that is used directly in the production of another product but is not readily identifiable in the finished product.
an item that facilitates productions and operations but does not become part of a finished product
a group of similar products that differ only in relatively minor characteristics
the process of changing one or more of a product's characteristics.
development of a new product that is closely related to one or more products in the existing product line but designed specifically to meet somewhat different customer needs
a brand name of brand mark that is registered with U.S Patent and Trademark office and this is legally protected from use by anyone except its owner
the complete and legal name of an organization
marketing and financial value associated with a brand's strength in a market.
using an existing brand to brand a new product in a different product category.
the process of developing and promoting differences between one's product and all similar products
the amount a seller adds to the cost of a product to determine its basic selling price
the number of units that must be sold for the total revenue (from all units sold) to equal; the total cost (of all units sold)
the total amount received from sales of a product.
the strategy of charging the highest possible price for a product during the introduction stage of its life cycle
the strategy of setting a low price for a new product
setting one price for the primary target market and a different price for another market
temporary reduction of price on a patterned or systematic basis
temporary reduction of prices on an unsystematic basis
the strategy of setting a single price for two or more units
pricing a product at a moderate level and positioning it next to a more expensive model or brand
pricing the basic product in a product line low, but pricing related items at a higher level
pricing the highest-quality or most-versatile products higher than other models in the product line
the strategy of selling goods only at certain predetermined prices that reflect definite price breaks
products priced below the usual markup, near cost, or below cost
advertised sales or price cutting linked to a holiday, season, or event
setting a price at a specific level and comparing it with a higher price
prices charged in sales between an organization's units
a deduction from the price of an item.