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Marketing 3000 Joel Poor exam 3 With Questions And 100% CORRECT ANSWERS
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JACKLINEMarketing 3000 Joel Poor exam 3 With Questions And 100% CORRECT
ANSWERS
Terms in this set (188)
Adjustment Strategy where companies adjust their prices in order to reward customers (examples:
Discount And Allowance Pricing
early payment of bills, volume purchases, off-season buying)
Cash Discount price reduction to those who pay in cash
Quantity Discount Price reduction to buyers who buy large volume
Noncumulative quantity given for a single purchase (Buy One Get One Free)
Cumulative quantity discount Discount is given over a number of purchases (Get 9 hair cuts get the 10th free)
Offer given by the seller to trade-channel members who perform certain functions (selling storing,
Functional Discount (AKA Trade Discount)
bookkeeping)
Marketing 3000 Joel Poor exam 3
payments or price reductions to reward dealers for participating in advertising and sales support
Promotional Allowances
programs
Segmented/ Discriminatory Pricing Companies adjust prices to allow for differences in customers, products, and locations
CustomerDiscount
Seasonal Segment Prices Different customers
Discount maybuy
to buyers who paymerchandise
different prices
out(Example:
of seasoncars)
Product Form Pricing
Trade-in-allowance Different
Price versions
reduction of the
given product in
for turning are
anpriced differently
old item (phone,(not
car) variable to actual costs)
, Location Pricing Charges different prices for different locations
Time Pricing Price Varies based on time (season, month, day, time)
1. Market Must Be segment-able
2. Segments must show different degrees of demand
In order to use segmented pricing... 3. Cost of segmenting and watching the market cannot exceed extra revenue obtained by price
difference
4. Must be legal
Psychological Pricing consider psychology of pricing not only economics (types reference pricing )
Prices that buyers hold in their mind and what they refer to when looking at a given product (what
Reference pricing
you think the price is based on past prices)
Department store retailers mark-up prices and then Anchoring and Adjustment
offer discounted sales prices (50% off)
practice of using prices like $.99 $19.95 $99.99
Odd Pricing
(May also use Even prices like Nordstrom)
Companies will temporarily mark their products below list price or cost in order to creating buying
Promotional Pricing
excitement and urgency (Black Friday)
Loss Leaders products priced below cost
Special Event Pricing Type of promotional pricing where prices vary in certain seasons (Back to school sale)
type of Promotional pricing where manufactures may offer longer warranties, free maintenance in
Low interest Finance
order to reduce the consumers price
Marketing 3000 Joel Poor exam 3
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