Chapter 17 Definitions

Chapter 17 Definitions - Chapter17 1.

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Chapter 17 1. Price Strategy – a basic, long-term pricing framework that establishes the initial price for a product and the  intended direction for price movements over the product life cycle. 2. Price Skimming – a pricing policy whereby a company charges a high introductory price, often coupled with  heavy promotion. 3. Penetration Pricing – a pricing policy whereby a company charges a relatively low price for a product  initially as a way to reach the mass market. 4. Deceptive Pricing – promoting a price or price saving that is not actually available. 5. Resale Price Maintenance – relates to laws that prohibit manufacturers from controlling prices at the retail  level. 6. Price Fixing – an agreement between two or more companies on the price they charge for a product. 7. Predatory Pricing – the practice of charging a very low price for a product with the intent of driving  competitors out of business or out of a market. 8. Base Price – the general price level at which the company expects to sell the good or service. 9. Quantity Discount – a price reduction offered for buying in multiple units or above a specified dollar  amount. 10.
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This note was uploaded on 11/30/2010 for the course MARK MARK 1115 taught by Professor Deveau during the Fall '10 term at Langara.

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Chapter 17 Definitions - Chapter17 1.

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