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Pricing Policies, Objectives, and strategies
| Questions |
Answers |
| The activity or fact of increasing the market share of an existing product, or promoting a new product, through strategies such as bundling, advertising, lower prices, or volume discounts. |
Penetration strategy |
| A valuation technique which assigns a low price to selected products. Economy pricing is widely used in the retail food business for groceries such as canned and frozen goods sold under generic food brands where marketing and production costs have been ke |
Economy Pricing |
| is a pricing strategy in which a marketer sets a relatively high price for a product or service at first, then lowers the price over time. It is a temporal version of price discrimination/yield management. It allows the firm to recover its sunk costs quic |
Price Skimming |
| Setting prices according to the psychographics of the aimed-at market segment |
Psychological Pricing |
| in marketing, is the practice of modifying a basic list price based on the geographical location of the buyer. It is intended to reflect the costs of shipping to different locations. |
Geographical Pricing |
| high pricing by a company because of the perceived superiority of a product or service or the desire to suggest superior quality. |
Premium Pricing |
