BUS 202 Lecture Notes - Lecture 17: Geographical Pricing, Price Fixing, Escalator

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Mark 1115 Chapter 17 Vocab
base price
The general price level at which the company expects to sell the good or
service. p. 549
basing-point
pricing
A price tactic that charges freight from a given (basing) point, regardless of
the city from which the goods are shipped. p. 552
cash discount
A price reduction offered to a consumer, an industrial user, or a marketing
intermediary in return for prompt payment of a bill. p. 549
consumer
penalty
An extra fee paid by the consumer for violating the terms of the purchase
agreement. p. 556
cumulative
quantity
discount
A dedutio fro list prie that applies to the uyer’s total purhases ade
during a specific time period. p. 549
deceptive
pricing
Promoting a price or price saving that is not actually available. p. 546
delayed-
quotation
pricing
A price tactic used for industrial installations and many accessory items, in
which a firm price is not set until the item is either finished or delivered. p.
559
escalator
pricing
A price tactic in which the final selling price reflects cost increases incurred
between the time the order is placed and the time delivery is made. p. 559
flexible pricing
(variable
pricing)
A price tactic in which different customers pay different prices for essentially
the same merchandise bought in equal quantities. p. 553
FOB origin
pricing
A price tactic that requires the buyer to absorb the freight costs from the
shippig poit free o oard. p. 552
freight
absorption
pricing
A price tactic in which the seller pays all or part of the actual freight charges
and does not pass them on to the buyer. p. 552
functional
discount
(trade
discount)
A discount to wholesalers and retailers for performing channel functions. p.
550
joint costs
Costs that are shared in the manufacturing and marketing of several products
in a product line. p. 558
leader pricing
(loss-leader
pricing)
A price tactic in which a product is sold near or even below cost in the hope
that shoppers will buy other items once they are in the store. p. 554
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Document Summary

The general price level at which the company expects to sell the good or service. p. 549 basing-point pricing. An extra fee paid by the consumer for violating the terms of the purchase agreement. p. 556 cumulative quantity discount deceptive pricing delayed- quotation pricing escalator pricing flexible pricing (variable pricing) Fob origin pricing freight absorption pricing functional discount (trade discount) joint costs leader pricing (loss-leader pricing) A dedu(cid:272)tio(cid:374) fro(cid:373) list pri(cid:272)e that applies to the (cid:271)uyer"s total pur(cid:272)hases (cid:373)ade during a specific time period. p. 549. Promoting a price or price saving that is not actually available. p. 546. A price tactic used for industrial installations and many accessory items, in which a firm price is not set until the item is either finished or delivered. p. A price tactic in which the final selling price reflects cost increases incurred between the time the order is placed and the time delivery is made. p. 559.

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