PBMF Chapter 11.2

Established price printed in a catalog, on a price tag, or in a price list.

• base price

• list price

• selling price

Raising prices on certain kinds of goods to an excessively high level during an emergency.

• bait & switch

• predatory pricing

• price gouging

Occurs when a company sells the same product to different customers at different prices based on personal characteristics.

• price discrimination

• price gouging

• bait & switch

Actual price customers pay for a product after any discounts or coupons are deducted.

• base price

• selling price

• list price

Practice of advertising one product with the intent of persuading customers to buy a more expensive item when they arrive in the store.

• bait & switch

• predatory pricing

• price fixing

Goals defined in the business and marketing plans for the overall pricing policies of the company.

• pricing plan

• psychological pricing

• pricing objectives

Setting very low prices to remove competition.

• predatory pricing

• price fixing

• collusion

Pricing techniques that create an image of a product and entice customers to buy.

• price planning

• psychological pricing

• pricing objectives

Explains the value of a product over others that are similar.

• value proposition

• break even point

• price ceiling

General price at which a company expects to sell a product.

• selling price

• list price

• base price