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Assignment: Pricing Concepts
Directions: Post the results of this assignment to the Wiki..
Pricing Concepts: You have been assigned to research two PRICING TERMS. Find the definitions and give examples. Use the definitions from the chapter, lecture notes, the glossary in your business book, or the BusinessDictionary.com <http://www.businessdictionary.com/> ( 20,000 terms and phrases from business).
Marketing -- Price
price--definition & examples (Faisal)
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profit-maximing (Faisal)
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market share objective for price (Marjorie)
is when some firms want to dominate the market or secure high market share
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price floor (Marjorie)
is a government-imposed limit on how low a price can be charged for a product. For a price floor to be effective, it must differ from the free market price. In the graph at right, the supply and demand curves intersect to determine the free-market quantity and price.
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elastic demand--definition & examples (Atthapon)
The demand for a product is said to be elastic if a given changein price
produces a relatively larger proportionate change in the quantity that is demanded.
For an examples; The demand for a goods and servicesare relatively
inelastic when the quantity demanded doesnot change much with the price change.
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inelastic demand--definition & examples (Atthapon)
Situation where the demand for a product does not increase or decrease
correspondingly witha fall or rise in its price. From the supplier's viewpoint,
this is a highly desirable situation because price and total revenue are directly
related;an increase in price increases total revenue despitea fall in the quantity demanded.
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cost-plus pricing (Kae)
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mark-up price (Kae)
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mark-up on cost -- example
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mark-up on selling price--example
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mark-up chain (Yongsoo)
coming soon
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breakeven pricing--explanation and example (Yongsoo)
coming soon
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fixed costs--definition & examples (Ji Sung)
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variable costs --definition & examples (Ji Sung)
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price skimming--definition & examples (Morouj)
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penetration pricing----definition & examples (Morouj)
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price lining----definition & examples (Johana)
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Odd-even pricing--definition & examples (Johana)
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2/10 net 30 -- explanation
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segmented pricing----definition & examples
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product life cycle----definition & examples
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price-fixing--definition & examples
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predatory pricing--definition & examples
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deceptive pricing--definition & examples
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