Ch - 13 Marketing Mix: Price

Front

Cost-Plus Pricing

Back

The business will charge a price based on the production costs.

Front

Definition - Businesses will charge similar prices to other businesses.

Back

Competitive Pricing

Front

Businesses in a niche market are likely to have

Back

High profit margins

Front

Which of the following is considered as cost-based pricing?

• Production, labor and material cost
• Combination of Profit & Volume
• Position of the Competition
• Status-Quo Pricing

Back

Production, labor and material cost

Front

Elements involved in marketing a good or service that interact significantly with each other.

Back

Marketing Mix

Front

Under which marketing function does offering a similar discount fall when customers rushed to H&M to buy jeans for $19.99?

Back

Price

Front

A business that has many competitors will use this pricing method

Back

Competitive pricing

Front

A business that wants to increase sales or enter a new market uses this type of pricing.

Back

Promotional pricing

Front

Which statement describes the law of demand?

Back

As prices rise, quantity demanded decreases

Front

When there is a shortage, the price will usually?

Back

rise