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Unformatted text preview: a.ii. Synonyms: Tuition, Rent, Subscription Fee, Registration Fee, Tax, Tariff, Salary, Wage, Charge, Duty, Toll, Levy, Tithe, etc. b. Question 2 b.i. Value-based pricing prices based on customer perceptions of value b.ii. Cost-based pricing prices based on the costs associated with creating and marketing the product or service plus some rate of return. 3. Review the influencers of price sensitivity and consider how you might decrease price sensitivity for the product in your marketing plan. 4. Know the Strategic Price Gap model: a. What allows a marketer to raise prices? a.i. raising perceived value through marketing efforts b. What drives prices down? b.i. competition c. What is the floor? c.i. costs of goods sold d. What is the ceiling? Is there more than one ceiling? Explain. d.i. the ceiling is perceived value, but this ceiling can theoretically be raised to the objective value....
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- Fall '10