Retail Pricing
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Retail Pricing
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25 Questions

1. At cost = (retail selling price - merchandise cost)/(merchandise cost)

2. Practice of offering two or more similar products or services for sale at one price

3. Charging different prices for the same merchandise in different geographic locations to be competitive in local markets

4. Keystone method

5. The practice of marking pieces only on shelves or signs and not on individual items

6. Emphasizes continuity of retail prices at a level somewhere between the regular non-sale price and the deep-discount price of the retailer's competitors

7. Err:509

8. Carry the merchandise over to the next season

9. Various retailers use different numbering schemes to communicate internally whether an item is being discounted and what type of discount is being applied (e.g. - costco uses .99 for full or regular priced items and .97 - .88 - or .00 for markdowns)

10. The practice of adjusting prices up or down in response to demand to control sales generated

11. The markup as a percentage of retail price

12. A policy that guarantees that the retailer will have the lowest possible price for a product or group of products - and usually promises to match or better any lower price found in the local market

13. Markup

14. Charging customers different prices based on their willingness to pay (e.g. - if a wealthy customer wants to buy something - the retailer charges more)

15. Maintained markup

16. Markdowns; discounts to employees and customers; and inventory shrinkage due to shoplifting - breakage - or loss

17. Price lining

18. Charging different prices in different stores - markets - or zones

19. The retail selling price initially placed on the merchandise less the cost of goods sold

20. A retailer actually changes the price in a systematic manner to observe changes in purchases or purchase intentions

21. Search engines

22. Cost-oriented method

23. Money returned to the buyer in the form of cash based on a portion of the purchasing price

24. Documents - electronic or hard copy - that entitle the holder to a reduced price or x cents off the actual price of a product or service

25. Charging different prices to different people one the basis of the nature of the offering (e.g. - early-bird specials at a restaurant offer lower-priced meals before 6pm)

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