Price and demand

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pricing strategy in which a marketer sets a relatively high initial price for a product or service at first, then lowers the price over time
______ can sometimes disturb the consumer as a sign of reduced quality.
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skimming
Skimming can sometimes disturb the consumer as a sign of reduced quality.
quantity of payment or compensation given by one party to another in return for one unit of goods or services
We should set the ______ to appeal to middle-income families.
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price
We should set the price to appeal to middle-income families.
amount added to the cost price of goods to cover overheads and profit
Price _______ went through the roof and nobody's liking it.
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markup
Price markups went through the roof and nobody's liking it.
setting of prices for goods/services that end in a ‘9’
______ makes you feel like you pay less, when you actually don't.
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charm pricing
Charm pricing makes you feel like you pay less, when you actually don't.
demand for products which consumers dislike and would prefer not to have to purchase
Bad publicity often causes ______.
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negative demand
Bad publicity often causes negative demand.
capable of being accomplished through bargaining
Suppliers left the price ______ so we have some place for an agreement.
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negotiable
Suppliers left the price negotiable so we have some place for an agreement.
ability of a business to change its pricing models to suit different geographic areas, consumer demands and prevailing incomes
Use ______ strategy to stay flexible.
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price adaptation
Use price adaptation strategy to stay flexible.
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