Pricing Review

Front

What are three factors that influence price? Options: Supply and Demand, Price, and Cost; Cost, Competition, Supply and Demand; Competition, marketing, and branding.

Back

Cost, Competition, Supply and Demand.

Front

Define market share.

Back

The total sales volume of competitors in a market.

Front

____ is what you provide in trade for your client's money.

Back

value

Front

The amount added to your cost to calculate the selling price.

Back

markup

Front

The process of assigning prices to items you're selling is called __.

Back

pricing

Front

The selling price minus the unit cost is known as ___ (the profit you make off each item).

Back

margin

Front

Using psychological pricing techniques, which of the following prices is typically perceived as a value? $19.99, $20, $20.25

Back

$19.99

Front

If your cost is $3.00 and you plan to use a 100% markup, the markup amount is

Back

$3.00

Front

If your cost is $10 and the markup amount is $15 the selling price will be

Back

$25.00

Front

What is your margin (in $) for a large cheese pizza that costs $2.50 to make and sells for $12.00?

Back

$9.50