Matching
Match the term with its definition. Some terms may not be used.
Premises:
The extent to which a good or service is perceived by a customer as meeting his or her needs or wants, measured by the customer's willingness to pay for it
A technique that prices on a range of products or services to reflect the benefits to the customer of parts of the range
A technique that sets very high prices for a limited period before reducing them to more competitive levels
Privately owned organizations that collect credit information on businesses
A categorization of accounts receivable based on the length of time they have been outstanding
A technique that sets more than one price for a product or service in order to offer price concessions to certain customers
A technique that uses a particular competitor as a model in setting prices
Demand that does not change significantly where there is a change in the price of a product or service
An alternative to cash whose use provides assurance to a seller that a buyer has a satisfactory credit rating and that payment will be received from the issuing financial institution
A line of credit on which the customer may charge purchase at any time, up to a pre-established limit
The difference between the unit selling price and the unit variable costs and expenses
The examination of cost-revenue relationships and the incorporation of sales forecasts into the analysis
Demand that changes significantly when there is a change in the price of a product or service
The degree to which a change in price affects the quantity demanded
The ratio of bad debts to credit sales
A line of credit that requires a down payment, with the balance paid over a specified period of time
A technique that sets a range of several distinct merchandise price levels
An agreement between a buyer and a seller that allows for delayed payment for a product or service
A strategy that offers customers basic features a t no cost with the idea that they will upgrade to advanced products or services at subscription prices
Financing provided by suppliers to client companies
A specification of what a seller requires in exchange for transferring ownership or use of a product or service
An approach based on setting a high price to convey an image of high quality or uniqueness
An approach based on applying a percentage to a product's cost to obtain its selling price
Sales volume at which total sales revenue equals total costs and expenses
A line of credit that allows the customer to obtain a product or service at the time of purchase, with the payment due when billed
The extent to which a good or service is perceived by a customer as meeting his or her needs or wants, measured by the customer's willingness to pay for it
An approach in which the total cost for a given period is divided by the quantity sold in that period to set a price
Financing granted by retailers to individuals who purchase for personal or family use
Privately owned organizations that summarize a number of firms' credit experiences with particular individuals
Responses:
Credit bureaus
Markup pricing
Elasticity of demand
Value
Break-even analysis
Prestige pricing
Inelastic demand
Credit
Open charge account
Consumer credit
Follow-the-leader pricing
Skimming price strategy
Trade credit
Credit card
Trade credit agencies
Elastic demand
Aging schedule
Freemium strategy
Average pricing
Revolving charge account
Contribution margin
Installment account
Product line pricing
Price
Variable pricing strategy
Bad-debt ratio
Price lining strategy
Break-even point
Correct Answer:
Premises:
Responses:
The extent to which a good or service is perceived by a customer as meeting his or her needs or wants, measured by the customer's willingness to pay for it
A technique that prices on a range of products or services to reflect the benefits to the customer of parts of the range
A technique that sets very high prices for a limited period before reducing them to more competitive levels
Privately owned organizations that collect credit information on businesses
A categorization of accounts receivable based on the length of time they have been outstanding
A technique that sets more than one price for a product or service in order to offer price concessions to certain customers
A technique that uses a particular competitor as a model in setting prices
Demand that does not change significantly where there is a change in the price of a product or service
An alternative to cash whose use provides assurance to a seller that a buyer has a satisfactory credit rating and that payment will be received from the issuing financial institution
A line of credit on which the customer may charge purchase at any time, up to a pre-established limit
The difference between the unit selling price and the unit variable costs and expenses
The examination of cost-revenue relationships and the incorporation of sales forecasts into the analysis
Demand that changes significantly when there is a change in the price of a product or service
The degree to which a change in price affects the quantity demanded
The ratio of bad debts to credit sales
A line of credit that requires a down payment, with the balance paid over a specified period of time
A technique that sets a range of several distinct merchandise price levels
An agreement between a buyer and a seller that allows for delayed payment for a product or service
A strategy that offers customers basic features a t no cost with the idea that they will upgrade to advanced products or services at subscription prices
Financing provided by suppliers to client companies
A specification of what a seller requires in exchange for transferring ownership or use of a product or service
An approach based on setting a high price to convey an image of high quality or uniqueness
An approach based on applying a percentage to a product's cost to obtain its selling price
Sales volume at which total sales revenue equals total costs and expenses
A line of credit that allows the customer to obtain a product or service at the time of purchase, with the payment due when billed
The extent to which a good or service is perceived by a customer as meeting his or her needs or wants, measured by the customer's willingness to pay for it
An approach in which the total cost for a given period is divided by the quantity sold in that period to set a price
Financing granted by retailers to individuals who purchase for personal or family use
Privately owned organizations that summarize a number of firms' credit experiences with particular individuals
Premises:
The extent to which a good or service is perceived by a customer as meeting his or her needs or wants, measured by the customer's willingness to pay for it
A technique that prices on a range of products or services to reflect the benefits to the customer of parts of the range
A technique that sets very high prices for a limited period before reducing them to more competitive levels
Privately owned organizations that collect credit information on businesses
A categorization of accounts receivable based on the length of time they have been outstanding
A technique that sets more than one price for a product or service in order to offer price concessions to certain customers
A technique that uses a particular competitor as a model in setting prices
Demand that does not change significantly where there is a change in the price of a product or service
An alternative to cash whose use provides assurance to a seller that a buyer has a satisfactory credit rating and that payment will be received from the issuing financial institution
A line of credit on which the customer may charge purchase at any time, up to a pre-established limit
The difference between the unit selling price and the unit variable costs and expenses
The examination of cost-revenue relationships and the incorporation of sales forecasts into the analysis
Demand that changes significantly when there is a change in the price of a product or service
The degree to which a change in price affects the quantity demanded
The ratio of bad debts to credit sales
A line of credit that requires a down payment, with the balance paid over a specified period of time
A technique that sets a range of several distinct merchandise price levels
An agreement between a buyer and a seller that allows for delayed payment for a product or service
A strategy that offers customers basic features a t no cost with the idea that they will upgrade to advanced products or services at subscription prices
Financing provided by suppliers to client companies
A specification of what a seller requires in exchange for transferring ownership or use of a product or service
An approach based on setting a high price to convey an image of high quality or uniqueness
An approach based on applying a percentage to a product's cost to obtain its selling price
Sales volume at which total sales revenue equals total costs and expenses
A line of credit that allows the customer to obtain a product or service at the time of purchase, with the payment due when billed
The extent to which a good or service is perceived by a customer as meeting his or her needs or wants, measured by the customer's willingness to pay for it
An approach in which the total cost for a given period is divided by the quantity sold in that period to set a price
Financing granted by retailers to individuals who purchase for personal or family use
Privately owned organizations that summarize a number of firms' credit experiences with particular individuals
Responses:
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