3/31 Class

Question 1

four p’s

Answer 1

product
place
price
promotion

Question 2

cost vs value pricing

Answer 2

.

Question 3

pricing tools and techniques

Answer 3

.

Question 4

CLV

Answer 4

customer life time value
CLV = M/1-r+d
M=margin
r =retention rate
d=interest/discount rate

Question 5

Prospect Theory & pricing

Answer 5

.

Question 6

price

Answer 6

the amount of money charged for a product

Question 7

pricing and the PLC

Answer 7

skimming - set the price high to get high profits at the beginning, then decrease

Question 8

penetration pricing

Answer 8

charging a low price to get customers

Question 9

hi low

Answer 9

going up and down

Question 10

always low pricing

Answer 10

always low

Question 11

product line pricing

Answer 11

making profits on one type product

Question 12

optional product pricing

Answer 12

.

Question 13

bundle pricing

Answer 13

.

Question 14

pricing assessments

Answer 14

.

Question 15

discount pricing

Answer 15

.

Question 16

even odd pricing

Answer 16

using .99 rather than a whole number

Question 17

special event pricing

Answer 17

pricing for a specific holiday

Question 18

retention rate

Answer 18

portion of customers you are keeping from period to period