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Marketing 3000 Joel Poor Exam 3 Study Guide.
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Marketing 3000 Joel Poor Exam 3 Study Guide. Discount And Allowance Pricing - answerAdjustment Strategy where companies adjust their prices in order to reward customers (examples: early payment of bills, volume purchases, off- season buying) Cash Discount - answerprice reduction to those who p...

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  • October 1, 2024
  • 29
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • marketing 3000 joel poor exam 3 study guide

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  • Mkt 3000

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Marketing 3000 Joel Poor Exam 3 Study
Guide.


Discount And Allowance Pricing - answer✔Adjustment Strategy where companies adjust their

prices in order to reward customers (examples: early payment of bills, volume purchases, off-

season buying)


Cash Discount - answer✔price reduction to those who pay in cash


Quantity Discount - answer✔Price reduction to buyers who buy large volume


Noncumulative quantity - answer✔given for a single purchase (Buy One Get One Free)


Cumulative quantity discount - answer✔Discount is given over a number of purchases (Get 9

hair cuts get the 10th free)


Functional Discount (AKA Trade Discount) - answer✔Offer given by the seller to trade-channel

members who perform certain functions (selling storing, bookkeeping)


Seasonal Discount - answer✔Discount to buyers who buy merchandise out of season


Trade-in-allowance - answer✔Price reduction given for turning in an old item (phone, car)


Promotional Allowances - answer✔payments or price reductions to reward dealers for

participating in advertising and sales support programs

, ©BRAINBARTER 2024/2025


Segmented/ Discriminatory Pricing - answer✔Companies adjust prices to allow for differences

in customers, products, and locations


Customer Segment Prices - answer✔Different customers may pay different prices (Example:

cars)


Product Form Pricing - answer✔Different versions of the product are priced differently (not

variable to actual costs)


Location Pricing - answer✔Charges different prices for different locations


Time Pricing - answer✔Price Varies based on time (season, month, day, time)


In order to use segmented pricing... - answer✔1. Market Must Be segment-able


2. Segments must show different degrees of demand

3. Cost of segmenting and watching the market cannot exceed extra revenue obtained by price

difference

4. Must be legal


Psychological Pricing - answer✔consider psychology of pricing not only economics (types

reference pricing )


Reference pricing - answer✔Prices that buyers hold in their mind and what they refer to when

looking at a given product (what you think the price is based on past prices)

, ©BRAINBARTER 2024/2025


Department store retailers mark-up prices and then offer discounted sales prices (50% off) -

answer✔Anchoring and Adjustment


Odd Pricing - answer✔practice of using prices like $.99 $19.95 $99.99


(May also use Even prices like Nordstrom)


Promotional Pricing - answer✔Companies will temporarily mark their products below list price

or cost in order to creating buying excitement and urgency (Black Friday)


Loss Leaders - answer✔products priced below cost


Special Event Pricing - answer✔Type of promotional pricing where prices vary in certain

seasons (Back to school sale)


Low interest Finance - answer✔type of Promotional pricing where manufactures may offer

longer warranties, free maintenance in order to reduce the consumers price


Industry Price Wars - answer✔Caused by frequent use of Promotional tools which result in few

market leaders dominate market and constantly compete against each other


Geographical Pricing - answer✔Different Pricing for different part of country or world


FOB-origin pricing - answer✔practice that means goods are placed free on board


(producer pays for shipping)


Uniform Delivery Pricing - answer✔Company charges the same price plus freight to all

customers regardless of location

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