Business Studies

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List the 4Ps In Order Of Importance.
Product, Price, Place And Promotion
1 of 8
Differential Pricing
Where a business charges different groups of consumers different priced for the same products.
2 of 8
Skimming
A method of pricing where a business has a higher price than competitors because it has a better products
3 of 8
Cost Plus
A method of pricing where a business looks at the price it paid for a product then adds on the profit to arrive at the point it should be sold at.
4 of 8
Promotional Pricing
Prices are reduced for a short period of time, ofton to sell off old stock
5 of 8
Competetor Pricing
A method of pricing used when there are alot of other businesses selling the same/ similar products.
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Penitration Pricing
Where a business lowers the price of products or services to gain customers from other businesses
7 of 8
Physilogical Pricing
Where prices are £9.99 rather than £10 to make the products seem much less expensive and so to attract sales.
8 of 8

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Card 2

Front

Differential Pricing

Back

Where a business charges different groups of consumers different priced for the same products.

Card 3

Front

Skimming

Back

Preview of the front of card 3

Card 4

Front

Cost Plus

Back

Preview of the front of card 4

Card 5

Front

Promotional Pricing

Back

Preview of the front of card 5
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