Price by Emma Spector https://padlet.com/073216210/g9t8jo4ry7ln Pricing Terminology en-us 2019-10-29 16:56:45 UTC 2019-10-30 01:40:26 UTC hello@padlet.com Mark-Up 073216210 https://padlet.com/073216210/g9t8jo4ry7ln/wish/404013869 Percentage added to the original cost of a good or service.

$100- 50% mark up
$150 ]]> 2019-10-29 17:07:04 UTC https://padlet.com/073216210/g9t8jo4ry7ln/wish/404013869 Margin 073216210 https://padlet.com/073216210/g9t8jo4ry7ln/wish/404017057 The difference between the price that you sell the product for and how much it costs to make.]]> 2019-10-29 17:12:03 UTC https://padlet.com/073216210/g9t8jo4ry7ln/wish/404017057 Variable Costs 073216210 https://padlet.com/073216210/g9t8jo4ry7ln/wish/404017890 A cost that varies with the level of output]]> 2019-10-29 17:13:06 UTC https://padlet.com/073216210/g9t8jo4ry7ln/wish/404017890 Fixed Cost 073216210 https://padlet.com/073216210/g9t8jo4ry7ln/wish/404018264 Business costs such as rent, that are constant whatever the quantity of goods or services produced

]]> 2019-10-29 17:13:42 UTC https://padlet.com/073216210/g9t8jo4ry7ln/wish/404018264 Break-even Point 349266593 https://padlet.com/073216210/g9t8jo4ry7ln/wish/404018422 The production level where the total revenues equal the total expenses. 

]]> 2019-10-29 17:13:58 UTC https://padlet.com/073216210/g9t8jo4ry7ln/wish/404018422 Competitive Pricing 349266593 https://padlet.com/073216210/g9t8jo4ry7ln/wish/404018889 Process of selecting strategic price points to best take advantage of a product or service based market relative to competition. 

]]> 2019-10-29 17:14:39 UTC https://padlet.com/073216210/g9t8jo4ry7ln/wish/404018889 Economy of Scale 073216210 https://padlet.com/073216210/g9t8jo4ry7ln/wish/404018951 A proportionate saving in costs gained by an increased level of production]]> 2019-10-29 17:14:43 UTC https://padlet.com/073216210/g9t8jo4ry7ln/wish/404018951 Benchmark Pricing 349266593 https://padlet.com/073216210/g9t8jo4ry7ln/wish/404019261 Price per unit of quantity of a commodity traded in the international marketplace, set by the country or producers' organization that consistently exports the largest quantity or volume of the commodity or in a marketplace. 
Ex . Could be used to compare processes in one retail store with those in another store in the same chain.]]> 2019-10-29 17:15:09 UTC https://padlet.com/073216210/g9t8jo4ry7ln/wish/404019261 Price Fixing 073216210 https://padlet.com/073216210/g9t8jo4ry7ln/wish/404019397 An agreement (written, verbal, or inferred from conduct) among competitors that raises, lowers, or stabilizes prices or competitive terms. ]]> 2019-10-29 17:15:20 UTC https://padlet.com/073216210/g9t8jo4ry7ln/wish/404019397 MRSP 073216210 https://padlet.com/073216210/g9t8jo4ry7ln/wish/404019632 Manufacturer
Suggested
Retail
Price

]]> 2019-10-29 17:15:41 UTC https://padlet.com/073216210/g9t8jo4ry7ln/wish/404019632 Leader Pricing 349266593 https://padlet.com/073216210/g9t8jo4ry7ln/wish/404019728 Common pricing strategy used by retailers to attract customers. It involves setting a lower price points and reducing typical profit margins to introduce brands or stimulate interest in the business as a whole or a particular product line. Products sold in this strategy are often sold at a loss.

]]> 2019-10-29 17:15:50 UTC https://padlet.com/073216210/g9t8jo4ry7ln/wish/404019728 Price Lining 349266593 https://padlet.com/073216210/g9t8jo4ry7ln/wish/404020022 Marketing process wherein products or services within a specific group are set at different price points. The higher the price, the higher the perceived quality to the consumer.

]]> 2019-10-29 17:16:14 UTC https://padlet.com/073216210/g9t8jo4ry7ln/wish/404020022 Bait and Switch 073216210 https://padlet.com/073216210/g9t8jo4ry7ln/wish/404020058 The action (generally illegal) of advertising goods which are an apparent bargain, with the intention of substituting inferior or more expensive goods.]]> 2019-10-29 17:16:17 UTC https://padlet.com/073216210/g9t8jo4ry7ln/wish/404020058 Everyday Low Pricing 349266593 https://padlet.com/073216210/g9t8jo4ry7ln/wish/404020403 Pricing strategy promising consumers a low price without the need to wait for sale price events or comparison shopping.

]]> 2019-10-29 17:16:35 UTC https://padlet.com/073216210/g9t8jo4ry7ln/wish/404020403 Skimming 073216210 https://padlet.com/073216210/g9t8jo4ry7ln/wish/404020421 A 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.]]> 2019-10-29 17:16:38 UTC https://padlet.com/073216210/g9t8jo4ry7ln/wish/404020421 Marketing Boards 073216210 https://padlet.com/073216210/g9t8jo4ry7ln/wish/404020615 An organization created by many producers to try to market their product and increase consumption and thus prices.]]> 2019-10-29 17:16:54 UTC https://padlet.com/073216210/g9t8jo4ry7ln/wish/404020615 Supersizing 349266593 https://padlet.com/073216210/g9t8jo4ry7ln/wish/404020656 To greatly increase the size of something. 

]]> 2019-10-29 17:16:58 UTC https://padlet.com/073216210/g9t8jo4ry7ln/wish/404020656 Negotiated Pricing 073216210 https://padlet.com/073216210/g9t8jo4ry7ln/wish/404020916 A price agreed upon for the supply of goods or services by both buyer and seller.]]> 2019-10-29 17:17:23 UTC https://padlet.com/073216210/g9t8jo4ry7ln/wish/404020916 Interest Free Pricing 349266593 https://padlet.com/073216210/g9t8jo4ry7ln/wish/404021115 Offering consumers the opportunity to finance their purchase with little to no interest charges for the extent of the contract. 

]]> 2019-10-29 17:17:41 UTC https://padlet.com/073216210/g9t8jo4ry7ln/wish/404021115 Penetration Pricing 073216210 https://padlet.com/073216210/g9t8jo4ry7ln/wish/404021135 A pricing strategy where the price of a product is initially set low to rapidly reach a wide fraction of the market and initiate word of mouth. ]]> 2019-10-29 17:17:43 UTC https://padlet.com/073216210/g9t8jo4ry7ln/wish/404021135 Competitive Pricing 073216210 https://padlet.com/073216210/g9t8jo4ry7ln/wish/404021362 Process of selecting strategic price points to best take advantage of a product or service based market relative to competition]]> 2019-10-29 17:18:01 UTC https://padlet.com/073216210/g9t8jo4ry7ln/wish/404021362 Combo Pricing 349266593 https://padlet.com/073216210/g9t8jo4ry7ln/wish/404021613 Companies sell a package or set of goods or services for a lower price than they would charge if the customer bought all of them separately. 

]]> 2019-10-29 17:18:23 UTC https://padlet.com/073216210/g9t8jo4ry7ln/wish/404021613 Psychological Pricing 349266593 https://padlet.com/073216210/g9t8jo4ry7ln/wish/404022179 Marketing strategy based on the theory that certain prices have a psychological impact. Retail prices are often expressed as "odd prices": a little less than a round number, e.g. $19.99 

]]> 2019-10-29 17:19:11 UTC https://padlet.com/073216210/g9t8jo4ry7ln/wish/404022179 Return on Investment 349266593 https://padlet.com/073216210/g9t8jo4ry7ln/wish/404022706 The ratio of a profit or loss made in a fiscal year expressed in terms of an investment and shown as a percentage of increase or decrease in the value of the investment during the year in question. The basic formula for ROI is: ROI = Net Profit / Total Investment * 100


]]> 2019-10-29 17:19:55 UTC https://padlet.com/073216210/g9t8jo4ry7ln/wish/404022706 Purchase Discounts 349266593 https://padlet.com/073216210/g9t8jo4ry7ln/wish/404023320 Deduction that a company may receive if the supplier offers it and the company pays the supplier's invoice within a specified period of time. 

]]> 2019-10-29 17:21:27 UTC https://padlet.com/073216210/g9t8jo4ry7ln/wish/404023320 INQUIRY QUESTION - EMMA 073216210 https://padlet.com/073216210/g9t8jo4ry7ln/wish/404208184 How much should the margin of a product be?]]> 2019-10-30 00:26:48 UTC https://padlet.com/073216210/g9t8jo4ry7ln/wish/404208184 INQUIRY QUESTION - AVA 073216210 https://padlet.com/073216210/g9t8jo4ry7ln/wish/404209432 How do all of these terms and concepts connect in creating a successful product/business?]]> 2019-10-30 00:30:55 UTC https://padlet.com/073216210/g9t8jo4ry7ln/wish/404209432