Marketing mix- price
- Created by: emilyrrich
- Created on: 08-06-18 15:17
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- Price
- Competitor
- Looks at price competitors charge to give business an indication of a price it should charge.
- Cost-plus
- Looks at costs of business before deciding the price of products.
- Penetration
- If the business is unknown to the public it needs to break into the market by reducing its price to tempt customers.
- Skimming
- When a business introduces a new product that is superior to its competitors it can be sold at a higher price.
- Promotional
- Reduction in price to either attract customers to an existing product or to sell off old products.
- Competitor
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