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Jeopardy Pricing Policies Pricing Strategies BEPLaws Pricing Mix Q $100 Q $200 Q $300 Q $400 Q $500 Q $100 Q $200 Q $300 Q $400 Q $500 Final Jeopardy.

Published byMorgan Mark Hill Modified over 8 years ago

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Presentation on theme: "Jeopardy Pricing Policies Pricing Strategies BEPLaws Pricing Mix Q $100 Q $200 Q $300 Q $400 Q $500 Q $100 Q $200 Q $300 Q $400 Q $500 Final Jeopardy."— Presentation transcript:

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2 Jeopardy Pricing Policies Pricing Strategies BEPLaws Pricing Mix Q $100 Q $200 Q $300 Q $400 Q $500 Q $100 Q $200 Q $300 Q $400 Q $500 Final Jeopardy

3 $100 Question from Pricing Policies This policy guarantees the consumer the lowest price.

4 $100 Answer from Pricing Policies What is Everyday Low Prices?

5 $200 Question from Pricing Policies This type of pricing policy is often used for high priced items.

6 $200 Answer from Pricing Policies What is negotiated pricing?

7 $300 Question from Pricing Policies This type of pricing is based on a forecast of what consumers are willing to pay.

8 $300 Answer from Pricing Policies What is Psychological Pricing?

9 $400 Question from Pricing Policies An example of this type of pricing policy is advertising an item in a weekly flyer at a really low price.

10 $400 Answer from Pricing Policies What is leader pricing (or loss leader)?

11 $500 Question from Pricing Policies This type of pricing policy would involve having all items that are the same price grouped together.

12 $500 Answer from Pricing Policies What is Price Lining?

13 $100 Question from Pricing Strategies This strategy involves charging whatever the competition is charging.

14 $100 Answer from Pricing Strategies What is Competitive Pricing?

15 $200 Question from Pricing Strategies This involves initially charging a high price.

16 $200 Answer from Pricing Strategies What is Market Skimming?

17 $300 Question from Pricing Strategies The price charged by the market leader.

18 $300 Answer from Pricing Strategies What is the benchmark price?

19 $400 Question from Pricing Strategies This strategy is used to try to quickly recover development and marketing costs.

20 $400 Answer from Pricing Strategies What is Market Skimming?

21 $500 Question from Pricing Strategies This strategy is used when a company wants to gain market share very quickly.

22 $500 Answer from Pricing Strategies What is Penetration Pricing?

23 $100 Question from BEP A calculation of how many units must be sold in order to cover the costs of making and marketing the product.

24 $100 Answer from BEP What is Break Even Analysis?

25 $200 Question from BEP These costs go up or down depending on quantity sold or produced.

26 $200 Answer from BEP What are variable costs?

27 $300 Question from BEP Rent, Equipment & hydro are all examples.

28 $300 Answer from BEP What are fixed costs?

29 $400 Question from BEP Selling Price – Variable Costs

30 $400 Answer from BEP What is Gross Profit?

31 $500 Question from BEP The number of units that must be sold to break even if a company charges $10 for a product; variable costs are $5 and fixed costs are $500.

32 $500 Answer from BEP What is 100?

33 $100 Question from Laws The illegal practice of having 2 price tags on a product and charging the highest one.

34 $100 Answer from Laws What is double ticketing?

35 $200 Question from Laws The illegal practice of advertising products as being on sale when they are actually regular price.

36 $200 Answer from Laws What is False Sales Prices?

37 $300 Question from Laws The illegal practice of agreeing with other retailers to charge a particular price, thereby limiting competition.

38 $300 Answer from Laws What is Price Fixing?

39 $400 Question from Laws The practice of advertising a product at a low price and then promotion a more expensive product.

40 $400 Answer from Laws What is Bait-and-Switch?

41 $500 Question from Laws The Government agency responsible for dealing with illegal pricing practices.

42 $500 Answer from Laws What is the Competition Bureau (of Canada)?

43 $100 Question from Pricing Mix The concept that the more products a company makes, the lower the production costs for each individual product.

44 $100 Answer from Pricing Mix What are Economies of Scale?

45 $200 Question from Pricing Mix A slight increase in price will result in a greater decrease in sales.

46 $200 Answer from Pricing Mix What is Price Sensitivity?

47 $300 Question from Pricing Mix Deliberately setting a high price for a product so it is seen as high quality.

48 $300 Answer from Pricing Mix What is Premium Pricing?

49 $400 Question from Pricing Mix This is one of the factors influencing pricing for the international market.

50 $400 Answer from Pricing Mix What is a tariff? (transportation costs or currency values)

51 $500 Question from Pricing Mix These are the two main factors that determine price.

52 $500 Answer from Pricing Mix What are the cost of doing business and the profit a company wants to make?

53 Final Jeopardy These are 3 factors that influence price sensitivity for a product.

54 Final Jeopardy Answer What are customer’s awareness of substitutes, income level and brand image?

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