Marketing Unit 4

Front

An unethical pricing practice when a firm charges different prices to similar customers in similar situations.

Back

Price discrimination

Front

An illegal pricing practice when competitors agree on certain price ranges within which they set their own prices.

Back

Price fixing

Front

_____ is the amount of money charged for a product or service.

Back

Price

Front

Price is the only element in the marketing mix that produces _____

Back

revenue

Front

Costs that do not vary with production or sales level are referred to as _____.

Back

fixed cost

Front

Under _____, the market consists of many buyers and sellers trading in a uniform commodity such as wheat, butter, or milk.

Back

pure competition

Front

When companies set prices, the government and social concerns are two _____ affecting pricing decisions.

Back

external factors

Front

Competitive, realistic, and flexible are components of:

Back

Effective Pricing

Front

If the economy is not doing well, a company might need to ______ prices

Back

Decrease

Front

If there is a lot of demand for a specific brand of jeans and the supply is low, the company might ______ price.

Back

Increase