Marketing Final

Which P represents where consumers can buy a product or service?

• Product
• Place
• Price
• Promotion

Adjusting prices to maximize the profitability for a group of products rather than for just one item

• Promotional Pricing
• Product Mix Pricing Strategies

A pricing technique that sets a limited number of prices for a specific group or lines of merchandise

• Price Lining
• Segmented Pricing Strategy

Pricing method in which a company offers several complementary, or corresponding, products in a package that is sold at a single price. 

• Everyday Low Prices (EDLP)
• Bundle

Price adjustments required because of different shipping agreements.

• geographical pricing
• prestige pricing

A strategy that uses two or more different prices for a product, even though there is no difference in the item's cost

• Product Mix strategy
• Segmented Pricing Strategy

Pricing techniques that create an illusion for customers.

• Geographical Pricing
• Psychological Pricing

Used in conjunction with sales promotions when prices are reduces for a short period of time.

• Bundle Pricing
• Promotional Pricing

Low prices set on a consistent basis with no intention of raising them for offering discounts in the future.  

• Everyday Low Price (EDLP)
• Bundle Pricing 

Higher-than-average prices to suggest status and high quality to the customer.

• Psychological Pricing
• Prestige Pricing