Chapter 11 - Product, Price, Place - TEST

Practice of advertising one product with the intent of persuading customers to buy more expensive item when they arrive.

• Price discrimination

• Deceptive pricing

• Bait and switch

• Predatory pricing

Process of separating a large quantity of goods into smaller quantities for resale

• Break-even point

• Freight forwarder

• Physical distribution

• Bulk-breaking

Path that goods take through the supply chain.

• Direct channel

• Channel of distribution

• Indirect channel

• Multi-channel

Established price printed in a catalog, on a price tag, or in a price list.

• List price

• base price

• markup

• break-even point

Company that organizes shipments.

• Producer

• Wholesaler

• Agent/Broker

• Freight forwarder

Fact about a product or service.

• Quality

• Usage

• Protection

• Feature

General price at which the company expects to sell a product.

• List price

• Base price

• Selling price

• MSRP

Path of selling goods or services that uses intermediaries to get the product from manufacturer to end users.

• Supply chain

• Channel of distribution

• Direct channel

• Indirect channel

Pricing an item much lower than the current market price or the cost of acquiring the product.

• Loss leader

• Price gouging

• Deceptive pricing

• Markup

Amount added to the cost to determine the selling price.

• List price

• Selling price

• Markup

• MSRP