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Marketing - Chap 14 Terms

supply pricing tactic based on the belief that certain prices or price ranges make products more appealing to buyers
demand pricing strategy designed to reduce emphasis on price as a competitive variable by matching competitors' prices and focusing on other ways to differentiate products
elasticity qualitative forecasting method that gathers several rounds of feedback from experts inside and outside the firm
elasticity of demand quantitative forecasting method that estimates future sales through statistical analysis of historical sales patterns
qualitative forecasting the amounts of a produce that will be offered for sale at different prices during a specified period
quantitative forecasting intentionally setting a relatively high price compared with the prices of competing products
jury of executive opinion qualitative forecasting method based on the combines sales estimates of the firm's salespeople
Delphi technique the measure of the responsiveness of purchases and suppliers to price changes
sales force composite a Depression-era law that prohibits price discrimination when selling the same product in the same amount to two different customers
survey of buyer intentions qualitative forecasting method that assesses the sales expectations of various executives
trend analysis qualitative forecasting method that samples opinions among groups of current and potential customers concerning purchasing plans
skimming pricing strategies laws which require sellers to maintain minimum prices for comparable merchandse
penetrating pricing strategy techniques that rely on subjective data that reports opinions rather than using statistical data
competitive pricing the amounts of a product that consumers will purchase at different prices during a specified time period
psychological pricing setting a lower price than competitive offerings in order to stimulate demand and market acceptance
product-line pricing pricing tactic in which a lower-than-normal price is used as a temporary ingredient in a firm's marketing strategy
promotional pricing techniques that rely on statistical data, such as past sales or results from small tests
loss leaders the percentage change in the quantity of a product demanded divided by the percentage change in its price
Robinson-Patman Act pricing tactic where the irm sets a limited number of prices for a selection of merchandise
price discrimination when a supplier offers the same product to two buyers at two different prices
unfair-trade laws pricing tactic where goods are priced below cost to attract customers to stores in hopes they will buy other merchandise at regular prices

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