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Offred from one business to another

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credit extended by a retail business to the final consumer

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Companies sell products in different parts of the country, and throughout the world, cost and distribution can vary

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Customers may not have a choice about the price of the product

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a company can price its product anywhere between total cost per unit and the amound of money customers are willing to pay.

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The quantity of a product that must be sold for total revenues to match total costs at a specific price

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Companies want prices that cover their costs and contribute to a reasonable profit

Consumers want the best value for their money

Maximize profits

Increase sales

Maintain company image

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price decrease will decrease revenue, consumers are not responsive

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price decrease increases revenue, several good substitutions, the consumers are very responsive

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Relationships between changes in product price and the demand for the product

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more accessible or purchased on credit

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better place than other options

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Better time than other options

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preferred features

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distinct categories based on differences in product quality and features, makes it easier to analyze choices.

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Form: preferred features

Time: Better time than other options

Place: better place than other options

Possession: more accessible or purchased on credit