Matching
Match the following terms with the descriptions below.
Premises:
A pricing strategy where the company attempts to set a selling price that will cover the costs of the product over its life.
A pricing strategy in which the company sets its initial selling price high in an attempt to appeal to those individuals who want to be the first to have the product and who are not concerned about price.
When a group of companies agree to limit supply and charge identical prices.
An additional amount over cost that is added to determine selling price.
Selling price less cost.
A pricing strategy where the company first determines the selling price of the product and then decides whether to enter the market.
The practice of setting excessively high prices.
Selling products below cost in a foreign market.
The practice of selling products below cost in an attempt to drive out competition, control the market, and then raise prices.
A pricing strategy where a company sets its initial selling price low in an attempt to gain a share of the market from competitors.
Responses:
Price gouging
Target Pricing
Price fixing
Dumping
Predatory pricing
Skimming Pricing
Markup
Selling Margin
Life-cycle pricing
Penetrating pricing
Correct Answer:
Premises:
Responses:
A pricing strategy where the company attempts to set a selling price that will cover the costs of the product over its life.
A pricing strategy in which the company sets its initial selling price high in an attempt to appeal to those individuals who want to be the first to have the product and who are not concerned about price.
When a group of companies agree to limit supply and charge identical prices.
An additional amount over cost that is added to determine selling price.
Selling price less cost.
A pricing strategy where the company first determines the selling price of the product and then decides whether to enter the market.
The practice of setting excessively high prices.
Selling products below cost in a foreign market.
The practice of selling products below cost in an attempt to drive out competition, control the market, and then raise prices.
A pricing strategy where a company sets its initial selling price low in an attempt to gain a share of the market from competitors.
Premises:
A pricing strategy where the company attempts to set a selling price that will cover the costs of the product over its life.
A pricing strategy in which the company sets its initial selling price high in an attempt to appeal to those individuals who want to be the first to have the product and who are not concerned about price.
When a group of companies agree to limit supply and charge identical prices.
An additional amount over cost that is added to determine selling price.
Selling price less cost.
A pricing strategy where the company first determines the selling price of the product and then decides whether to enter the market.
The practice of setting excessively high prices.
Selling products below cost in a foreign market.
The practice of selling products below cost in an attempt to drive out competition, control the market, and then raise prices.
A pricing strategy where a company sets its initial selling price low in an attempt to gain a share of the market from competitors.
Responses:
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