Store Lesson 11 Pricing

is the monetary value of a product exchanged for the purpose of owning the product.

• Cost

• Influence

• Price

• Advertising

There are several _________ from which to choose when pricing your products-and several _________ that may influence your choice to implement one over another.

• Choices & Changes

• Strategies & Factors

• Up's & Down's

• Top's & Bottom's

Why is pricing important?

• Pricing high will get you more money

• Pricing is the key to success

• The price of an item is not that important

• Price dictates the amount of revenue your business will generate

Pricing goods and services too low will increase your revenue.

• True

• False

If the product is very desirable and somewhat rare, its price will go up.

• True

• False

__________ is when customers believe that the price of an item says something about its value.

• Consumer intuition

• Consumer ratings

• Consumer feedback

• Consumer perceptions

________ the prices of similar products offered at competing businesses will undoubtedly affect what your SBE can sell its products

• Competition

• Accepting

• Offering

• Lowering

All of the following are apart of the product mix pricing strategies except:

• PRICE LINING

• LINE ITEM PRICING

• CAPTIVE PRODUCT PRICING

• BUNDLE PRICING

_______ refers to pricing products differently in different geographical locations due to the variable costs of shipping.

• GEOGRAPHICAL PRICING

• INTERNATIONAL PRICING

• SITUATIONAL PRICING

• CONDITIONAL PRICING

The following factors influence

segmented pricing:

• BUYER IDENTIFICATION

• PRODUCT DESIGN

• PURCHASE LOCATION

• TIME OF PURCHASE

• ALL OF THE ABOVE