This pricing strategy is often used when there is no competitor in the 1 mini market, allowing one to charge a fairly high price for a new or innovative product. 0 Skimming Pricing O Penetration Pricing 0 Premium Pricing 0 Economy Pricing This pricing strategy is consists in asking a high price for a product that 1 point is unique in some way 0 Skimming Pricing O Penetration Pricing 0 Premium Pricing 0 Economy Pricing The following are common mistakes in pricing, EXCEPT 1 mint 0 lowering prices to compete on price alone 0 lowering prices without reducing the benefits/services O lowering prices conveys the image of over-inflated prices 0 setting a low price in which production and marketing costs are kept as low as possible These costs are the checkbook or "out of pocket\" expenses incurred 1 point each time you sell a productiservice. O Direct/Variable Costs 0 Indirect/Fixed Costs 0 Contribution Margin Per Unit 0 Break Even Point This is the amount of money that you have left after covering your directfvariable costsfunit. O Direct/Variable Costs 0 Indirect/Fixed Costs 0 Contribution Margin Per Unit 0 Break Even Point These are the income you generate after covering your costs Break Even Point Direet/ Variable Costs Indirect/Fixed Costs Profit 0000 This is consists of individuals and businesses that participate in the process of making a firm's product or service available for use or consumption by the end user 0 Marketing channel 0 Channel design 0 Channel management 0 Intermediary This refers to whether the distribution will be \"direct\" or \"indirect\" or both and whether the firm deals directly with the end user or one or more intermediaries. 0 Channel length 0 Channel breadth 0 Channel width 0 Channel design lpOin' 1p0in' 'lpom' 'lpom' It consists of a chain of businesses or intermediaries involved in the 1 poim distribution process, each passing the product down until it finally reaches the end-user. 0 Channels of Distribution 0 Direct Channels 0 Indirect Channels 0 Resellers These are distributors or middlemen that purchase products from 1 paint suppliers such as producers or other wholesalers and in turn sell them to other resellers, such as retailers or other wholesalers. O Wholesalers 0 Industrial Distributors This channel purchase or take ownership of products from the 1 poim producing firm with the intention of selling them to others 0 Wholesalers 0 Industrial Distributors The following are typically distributed through indirect channels, except 1 pomt 0 Computers 0 Sliced bread It refers to the combination of elements that a company employs to 1 polm communicate with current or prospective customers about its products or services. 0 Promotion This is used to experiment with different ad formats. The advertisement 1 point is shown to a panel of consumers, who are then asked to rate how much they liked it, how much it piqued their interest, and how appealing they thought it was. 0 The Portfolio Test 0 Jury tests 0 Theater tests 0 Aided recall The goal of this technique is to calculate the percentage of consumers 1 polm who, after seeing an advertisement, a) remember the specific ad; b) read any part of the ad and identify the product or brand; and c) read at least half of the ad. 0 The Portfolio Test 0 Jury tests 0 Theater tests 0 Aided recall