2.2.2 price
Call Kai
Learn
Practice Test
Spaced Repetition
Match
Flashcards
Knowt Play1/8
There's no tags or description
Looks like no tags are added yet.
Name | Mastery | Learn | Test | Matching | Spaced | Call with Kai |
|---|
No analytics yet
Send a link to your students to track their progress
9 Terms
what are the pricing strategies
low pricing
high pricing
why do businesses use low pricing strategies
when business tries to sell the product to the market that has high volumes of people
is the profit margin high or low per product in low pricing strategy
low
why do businesses use high pricing strategies for their products
they are small or niche products, selling to lower volumes of people.
is the profit margin high or low for each product in the high pricing strategy
high profit margin
waht are the influences of pricing strategies
technology
competition
market segments
product life cycle
how does technology affect the pricing strategy
when customers use online shopping it is easy to compare the prices with competitors so businesses may use pricing matching to stay competitive
how does competition affect the pricing strategy
if competition is high the business may want to have their prices similar to competitor
if competition is low then the businesses can use a higher pricing strategy because the product is more unique.
how does market segment affect the businesses pricing strategy
mass market means low pricing strategy
low mass market means high pricing strategy
