Pricing 0.0 / 5 ? BusinessPricing DecisionsA2/A-levelAQA Created by: RachelCoates16Created on: 10-01-18 12:21 Penetration Pricing A strategy in which low prices are set to break into a market 1 of 10 Price skimming A strategy in which a high price is set to yield a high profit margin 2 of 10 Introduction Price skimming is often used in this phase of the lifecycle 3 of 10 Competitive In what type of market is it difficult to use price skimming? 4 of 10 Influence on pricing decisions Costs of production 5 of 10 Cost plus pricing Average cost plus mark up 6 of 10 Loss leader Low prices set to encourage consumers to buy other full priced products 7 of 10 Predatory pricing A firm sets low prices to drive other competitors out of the market 8 of 10 Price leadership Large company sets the market price 9 of 10 Price takers Smaller firms who follow the lead of larger companies 10 of 10
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