BUSI 2204 Lecture Notes - Lecture 12: Marginal Cost, Marginal Revenue
14 Dec 2017
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Document Summary
Price means one thing to the consumer and something else to the seller. That which is given up in an exchange to acquire a good or service. The price charged to consumers multiplied by the number of units sold. A basic, long-term pricing framework that establishes the initial price for a product and the intended direction for price movements over the product life cycle. A high introductory price, often coupled with heavy promotion. A relatively low price for a product initially as a way to reach the mass market. The general price level at which the company expects to sell the good or service. A unit price reduction offered to buyers buying either in multiple units or at more than a specified dollar amount. A deduction from list price that applies to the buyer"s total purchases during a specific period.
