Pricing Strategies

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Competitive Pricing
pricing strategies based on the prices charged by rivals
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Cost Plus Pricing
adding a percentage to the costs of producing an product to get the price
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Mark-Up
the percentage added to unit cost that makes a profit for a business when setting the price
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Penetration Pricing
setting a lower price when launching a new product in order to get established in the market
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Predatory or destroyer pricing
setting a low price forcing ricks out of business
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Pricing Strategy
the pricing policies or methods used by a business when deciding what to charge for it'd products
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Product Life Cycle
shows the different stages in the life of a product and the dales that can be expected at each stage
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Psychological Pricing
setting the price slightly below round figure, Eg. £4.99
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Skimming
setting a high price initially and then lowering it later
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Unit Costs
the same as average ( total cost divided by output)
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Other cards in this set

Card 2

Front

adding a percentage to the costs of producing an product to get the price

Back

Cost Plus Pricing

Card 3

Front

the percentage added to unit cost that makes a profit for a business when setting the price

Back

Preview of the back of card 3

Card 4

Front

setting a lower price when launching a new product in order to get established in the market

Back

Preview of the back of card 4

Card 5

Front

setting a low price forcing ricks out of business

Back

Preview of the back of card 5
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