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Worksheetspricing review
Total questions: 10
Worksheet time: 10mins
Point where sales equal the fixed costs to run the business (rent, saleries, insurance, etc.)
market share
break-even point
price
demand
Consumers will only buy so much of a given product even at a low price
Law of Diminishing Marginal Utility
price fixing
price discrimination
bait and switch
charges different prices to similar customers in similar situations
bait and switch
price discrimination
price fixing
unit pricing
Allows customers to comapre prices in relation to a standard unit of measure
price advertising
price gouging
unit pricing
unfair trade
Sell a product for below cost to drive purchases for other products
unfair trade
price gouging
break-even point
loss leader
What's the last part of the product life cycle?
Introduction
decline
maturity
end
Adjusting the prices to maximize the profitability for a group of products rather than just one
product mix pricing
pricing strategies
price skimming
product life cycle
pricing that helps create an illusion for customers
psychological pricing
illusion pricing
unit pricing
pricing
What is the equation for return on investment?
investment/profit
investment*profit
profit/investment
profit*investment
What is the equation for break-even point?
fixed cost*profit
customer price*fixed cost
fixed cost/profit
profit/your cost
