Quiz #12

achieving recurring revenue is key to venture success

One of the truisms for successful ventures

markup price

___ is a price setting method where an amount is added to the cost of a product to set the retail price and provide a profit

premium pricing

___ refers to setting a price above that of the competition so as to indicate a higher quality or that a product is a status symbol

optimum price

___- refers to the higherst prie of the product that will produce the desired level of sales in the intended market

sale on select merchandise

what is the best example for random discounting?

Price skimming

Define

Partitioned pricing

Harry ordered a television online for $800. He was asked to pay $100 toward shipping charges, $50 as installation charges and another $100 for extenede warrenty . This a n example of

necessary to capture the desired market share given an anticipated level of sales volume

If a business is trying to grow, the right price for its products is the one that is

time from exposure to the customer to the customer order

What is a sales cycle?

Margin

What refers to the amount of profit a small business owner or entrepreneur incurs, usually stated as a percentage of the total price

With this pricing strategy, a firm generally bases its prices on what its most direct competitors are doing.

going-rate pricing

A method of pricing where a firm sets price just low enough to discourage possible new entrants. This will act as a barrier to entry to new firms.

limit pricing

A new product pricing strategy that aims to capture as much of the market as possible through rock-bottom pricing.

penetration pricing