Price starts ____ - usually through special offers​. Gains market ____ through sales​. Breaks down ____ to entry into the market ​but doesn't always make lots ​of ____. Price usually ____ after a set period of time. This is known as ____ pricing. Company charges a high price because they have a substantial ____ advantage​. This happens where there is high demand and short ____, they will often start with a high ____ at the product's launch e.g. the latest phone or ____. Products are usually innovative. ​As demand for product declines, so does the price. This is known as price ____. This is where businesses influence buying ____ by, typically, convincing customers to buy products based on their ____ of the product being significantly ____, when in reality the difference is ____. Also know as the ____, a product is sold at £149.99 rather than £150. This works better with more expensive items e.g. £999 rather than £1000. This is known as ____ pricing. Business who use this usually have a strong ____ advantage in the industry, the result of this pricing strategy is high profit ____. This strategy gives the ____ that the products are of the highest ____. An example is Canada Goose coats. There are no doubt these are high quality coats, however, the price is substantially inflated, which in turn creates ____. This is known as ____ pricing. This strategy is based on what ____ are charging - also known as the ____. Products/serivces sold using this pricing strategy are often in highly competitive markets. If they over price this type of product/service, they are at risk of losing their ____ Often used for products/services with no ____ and lots of ____. Businesses in this type of market will have to ____ themselves by offering excellent ____ or increase availability. This is known as ____ pricing. This is the most ____ pricing strategy. This is where a business buys or produces a product/service and then adds a ____ on e.g. 30%. This does not consider the needs and wants of the t____ and is considered ____ if used on its own. This is known as ____ pricing. This happens when a business ____ different prices for the same product/service. For example, a train ticket from Llanelli to Swansea could be different prices at different ____. This is often used where ____ changes at different times. Another example of offering ____ prices for different groups. This is an example of price ____. Have you ever bought a product and wondered how it could be so ____? Businesses sometimes sell goods at a ____, they do this so they can ____ people into the shop. The aim is that ____ will see something else they like and buy it while they are in the shop. Loss leaders include some books on Amazon. These are known as ____.

Pricing

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