35D WORD REVISION 2 (whole page)

PREDATORY PRICING:setting a price low enough to drive competitors out of market or the business.....



PRICE DISCRIMINATION:means charging different prices to different people for what is essential the same product



PRICE ELASTICITY:is a measure of the way the demand for a good responds to a change in price



PRICING STRATEGY:is the medium-to long -term plan for the price level that a firm wished to set for a product



PRICING TACTICS:ways of using price to take advantage of a short-term opportunity or threat



PRIMARY RESEARCH:field research,which has first-hand information and relevant to the business which is new

SECONDARY RESEARCH:which has second-hand information and has collection the data and has already existed

PRODUCT DIFFERENTIATION:is the extent to which consumers perceive one product as being different from its rivals

PRODUCT LIFE CYCLE:the theory that all products follow a similar life course of conception


PRODUCT PORTFOLIO:the range of products or brands held by a company that provide it with diversified sources of income

QUALITATIVE RESEARCH:is in-depth research into the motivations behind consumer behaviour or attitudes
QUANTITATIVE RESEARCH:research using pre-set questions among a large enough sample size to provide statistically valid data

SAMPLE:a group of respondents to a market research exercise selected to be representative of the views of the target market as a whole

SIGNIFICANCE TESTING:checking the statistical validity of a sample result

UNIQUE SELLING POINT:the feature of a product that can be focused on in order to differentiate it from all competition