Business Studies Unit 2 Definitions

HideShow resource information
Psychological Pricing
Using price as a way of influencing a consumer’s behaviour or perceptions, for example using high prices to reinforce quality image
1 of 7
Promotional Mix
The mix of activities and approaches taken to promoting a product, including advertising, direct selling
2 of 7
Profitability
The ability of a business to generate profits from its activities
3 of 7
Product Portfolio
The collection of products and brands owned and operated by a firm
4 of 7
Product Life Cycle
A theory which predicts the stages a product goes through from introduction to withdrawal from a market
5 of 7
Pricing Tactics
The short-term pricing decisions and approaches taken
6 of 7
Pricing Strategies
The overall strategic approach to pricing over the medium-to-long-term often based on the market positioning of a product
7 of 7

Other cards in this set

Card 2

Front

The mix of activities and approaches taken to promoting a product, including advertising, direct selling

Back

Promotional Mix

Card 3

Front

The ability of a business to generate profits from its activities

Back

Preview of the back of card 3

Card 4

Front

The collection of products and brands owned and operated by a firm

Back

Preview of the back of card 4

Card 5

Front

A theory which predicts the stages a product goes through from introduction to withdrawal from a market

Back

Preview of the back of card 5
View more cards

Comments

No comments have yet been made

Similar Business Studies resources:

See all Business Studies resources »See all Definitions resources »