Sports & Entertainment Marketing Pricing Project
Justin Leibow & Ioannis Tsourekas
Marketing strategy where prices are set higher than normal because lower prices will hurt instead of helping sales
Psychological pricing method based on the belief that certain prices or price ranges are more appealing to buyers. This method involves setting a price in odd numbers.
A pricing strategy which yields no profit. The sales price equals the expenses that are allocatable for a product. Often this strategy is used to sell slow-moving inventory.
An approach under which a producer sets a high price for a new high-end product (such as an expensive perfume) or a uniquely differentiated technical product.
A strategy adopted for quickly achieving a high volume of sales and deep market penetration of a new product. Under this approach, a product is widely promoted and its introductory price is kept comparatively low.
The process used by retailers of separating goods into cost categories in order to create various quality levels in the minds of consumers.
The act of placing several products or services together in a single packages and selling for a lower price than would be charged if the items were sold separately.
An aggressive cost setting strategy whereby a retail outlet deliberately sells particular desirable products below their cost to attract customers.
Yield Management Pricing
The process of examining and factoring in consumer behavior to achieve the maximum amount of profit from a perishable good.