Extra knowledge practice questions: Optional Prices set too high A Destroyer pricing 2 Pricing strategy used to sell luxury brands with a unique selling point B Premium pricing 3 Innovators C Psychological pricing Aggressive in nature because this pricing strategy aims to take Can encourage brand switching by setting market share away from D prices below costs in order to attract competitors customers 5 Apple uses this pricing strategy to sell its latest iPhones E Can deter customers from making purchases Common pricing strategy used by 6 airlines, theme parks, cinemas and F Price Skimming hair salons Pricing strategy that sells products Group of loyal customers who feel the 7 at rounded down prices, such as G need to have the most up-to-date $14,999 or $24,995 technological consumer products 8 Loss leader pricing H Dynamic pricing (price discrimination) 9 Predatory pricing Pricing strategy that uses low prices to enter a market and gain market share The result of continual price cuts in Pricing that 10 the industry as firms try outdo each J strategy subdivides customers into groups based on their other ability to pay different prices 11 Penetration pricing K Price war An integral aspect of the marketing mix 12 Price discrimination L referring to the value that customers pay for the purchase of a good or service 13 Price M Competitive pricing Pricing strategy used by firms to 14 set prices based on those set by N Illegal pricing strategy in many parts of the rival businesses in the industry world due to its anti-competitive nature Extra video clips and readings you may want to look at if you have time: Optional