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Retail Pricing - Coggle Diagram
Retail Pricing
Considerations in Setting Retail Prices
Price Sensitivity
Price Elasticity
Factors
Compertitors
Cost
Legal Constraint
Pricing Services
Matching Supply and Demand
Determining Service Quality
Pricing Strategies
Everyday Low Pricing
Not Lowest
Emphasizes the continuity of retail prices
Advantages of Pricing Strategies
Assures customer of low prices
Reduces advertising and operating expense
Reduces stockouts and improves inventory management
High/Low Pricing
Advantage and disadvantage
Definition
Setting Retail Prices
Markdowns
Pricing Techniques for Increasing Sales and Profits