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P. 1
PRICING

PRICING

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Published by api-19665029

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Published by: api-19665029 on Nov 26, 2009
Copyright:Attribution Non-commercial

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03/18/2014

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18-1
PRICING
Synonyms for Price
18-2

\ue000Rent
\ue000Tuition
\ue000Fee
\ue000Fare
\ue000Rate
\ue000Toll
\ue000Premium
\ue000Honorarium

\ue000Special assessment
\ue000Bribe
\ue000Dues
\ue000Salary
\ue000Commission
\ue000Wage
\ue000Tax

18-3
What is Price?
\ue000Price is commonly confused with the notion of cost.
Price is commonly confused with the notion of cost.
\ue000Price is what a buyer pays to acquire products from a
Price is what a buyer pays to acquire products from a
seller whereas cost concerns the seller\u2019s investment
seller whereas cost concerns the seller\u2019s investment
(e.g., manufacturing expense) in the product being
(e.g., manufacturing expense) in the product being
exchanged with a buyer.
exchanged with a buyer.
\ue000Price is the only element in the marketing mix of the
Price is the only element in the marketing mix of the
firm that generated revenue.
firm that generated revenue.
\ue000Price is the amount customer have to pay to obtain
Price is the amount customer have to pay to obtain
the product.
the product.
\ue000In general terms price is a component of an exchange
In general terms price is a component of an exchange
or transaction that takes place between two parties
or transaction that takes place between two parties
and refers to what must be given up by one party
and refers to what must be given up by one party
(buyer) in order to obtain something offered by
(buyer) in order to obtain something offered by
another party (seller).
another party (seller).

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