Jeopardy
Pricing Policies Pricing
Strategies
BEP
Laws
Pricing Mix
Q $100
Q $100
Q $100
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Q $100
Q $200
Q $200
Q $200
Q $200
Q $200
Q $300
Q $300
Q $300
Q $300
Q $300
Q $400
Q $400
Q $400
Q $400
Q $400
Q $500
Q $500
Q $500
Q $500
Q $500
Final Jeopardy
$100 Question from Pricing Policies
This policy guarantees the consumer
the lowest price.
$100 Answer from Pricing
Policies
What is Everyday Low Prices?
$200 Question from Pricing Policies
This type of pricing policy
is often used for high priced
items.
$200 Answer from Pricing
Policies
What is negotiated
pricing?
$300 Question from Pricing
Policies
This type of pricing is based on a
forecast of what consumers are
willing to pay.
$300 Answer from Pricing
Policies
What is Psychological
Pricing?
$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.
$400 Answer from Pricing
Policies
What is leader pricing (or loss leader)?
$500 Question from Pricing
Policies
This type of pricing policy would involve
having all items that are the same price
grouped together.
$500 Answer from Pricing
Policies
What is Price Lining?
$100 Question from Pricing
Strategies
This strategy involves
charging whatever the
competition is charging.
$100 Answer from Pricing
Strategies
What is Competitive Pricing?
$200 Question from Pricing
Strategies
This involves initially charging a high
price.
$200 Answer from Pricing
Strategies
What is Market Skimming?
$300 Question from Pricing
Strategies
The price charged by the market leader.
$300 Answer from Pricing
Strategies
What is the benchmark price?
$400 Question from Pricing
Strategies
This strategy is used to try to quickly
recover development and marketing costs.
$400 Answer from Pricing
Strategies
What is Market Skimming?
$500 Question from Pricing
Strategies
This strategy is used when a company
wants to gain market share very quickly.
$500 Answer from Pricing
Strategies
What is Penetration Pricing?
$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.
$100 Answer from BEP
What is Break Even Analysis?
$200 Question from BEP
These costs go up or down
depending on quantity sold or
produced.
$200 Answer from BEP
What are variable costs?
$300 Question from BEP
Rent, Equipment & hydro are all
examples.
$300 Answer from BEP
What are fixed costs?
$400 Question from BEP
Selling Price – Variable Costs
$400 Answer from BEP
What is Gross Profit?
$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.
$500 Answer from BEP
What is 100?
$100 Question from Laws
The illegal practice of having 2 price
tags on a product and charging the
highest one.
$100 Answer from Laws
What is double ticketing?
$200 Question from Laws
The illegal practice of
advertising products as
being on sale when they
are actually regular price.
$200 Answer from Laws
What is False Sales Prices?
$300 Question from Laws
The illegal practice of agreeing with
other retailers to charge a particular price,
thereby limiting competition.
$300 Answer from Laws
What is Price Fixing?
$400 Question from Laws
The practice of advertising a product
at a low price and then promotion a
more expensive product.
$400 Answer from Laws
What is Bait-and-Switch?
$500 Question from Laws
The Government agency responsible for dealing
with illegal pricing practices.
$500 Answer from Laws
What is the Competition Bureau (of
Canada)?
$100 Question from Pricing Mix
The concept that the
more products a
company makes, the
lower the production
costs for each
individual product.
$100 Answer from Pricing Mix
What are Economies of Scale?
$200 Question from Pricing Mix
A slight increase in price will result
in a greater decrease in sales.
$200 Answer from Pricing Mix
What is Price Sensitivity?
$300 Question from Pricing Mix
Deliberately setting a high price for a
product so it is seen as high quality.
$300 Answer from Pricing Mix
What is Premium Pricing?
$400 Question from Pricing Mix
This is one of the factors influencing
pricing for the international market.
$400 Answer from Pricing Mix
What is a tariff? (transportation costs
or currency values)
$500 Question from Pricing Mix
These are the two main factors that
determine price.
$500 Answer from Pricing Mix
What are the cost of doing business
and the profit a company wants to make?
Final Jeopardy
These are 3 factors that influence
price sensitivity for a product.
Final Jeopardy Answer
What are customer’s awareness
of substitutes, income level and
brand image?