Price Awareness

Preferential Tariff – Reduced tariff rate applied to imports from certain countries.

Premarking – The price marking by the manufacturer or other supplier before goods are shipped to a retail store. It is also called prepricing.

Premium – 1. (retailing definition) Merchandise offered at a lower price, or free, as an additional incentive for a customer to make a purchase. 2. (sales promotion definition) An item of value, other than the product itself, given as an additional incentive to influence the purchase of a product.

Prepaid Rate – A transportation charge that is paid before a shipment id delivered, usually by the shipper or seller.

Preprint – An advertisement printed at the retailer’s expense and distributed as a free standing insert with a newspaper.

Preprint Advertising – An advertising material printed ahead of a publication’s regular press run, often on a printing press other than the regular publication press. The preprint advertising is inserted into the publication during its regular printing and binding process. Preprint advertising includes a variety of approaches, including multipage inserts, free standing inserts, reply cards and reply envelopes, and ads printed on a paper stock that is different from the paper stock on which the publication is printed.

Preretailing – The practice of determining prices and placing them on a copy of purchase order at the time that goods are brought (orders placed).

Presentation, Sales – The core of the personal selling process in which the sales person transmits the information about the products and attempts to persuade the prospect to become a customer.

Press Clipping Bureau – A service organization that monitors a wide range of media sources (newspapers, magazines, television and radio talk shows and newscasts) in order to collect and log mentions of the publicist’s products, service, or organization.

Press Conference – The convening of representatives of the media by a person or organization to explain, announce, or expand on a particular subject.

Press Party – The convening of representatives of the media at a social event to distribute information or material for possible future use or to influence their opinion of the sponsoring organization.

Pretest – The use of a questionnaire (or observation form) on a trial basis in a small pilot study to determine how will the questionnaire (or observation form) works.

Pretesting – The testing of the potential communication effectiveness of advertising messages before they are exposed to audiences as part of a regular media schedule. Advertisers often expose versions of advertising messages that are under development to small samples of audience members to examine the extent to which the intended message is likely to be conveyed.

Price – The formal ratio that indicates the quantities of money goods or services needed to acquire a given quantity of goods and services

Price Awareness – The degree to which buyers are knowledgeable of the prices of alternative products and services that they are interested in buying.

Price Bundling – The practice of offering two or more products or services for sale at one price.

Price Code – A symbol or code placed on a price ticket or bin ticket to indicate the cost price of an item.

Price Competition – The rivalry among firms seeking to attract customers on the basis of price, rather than by the use of other marketing factors.

Price Consciousness – The degree to which buyers are sensitive to differences in price between alternative choices. Generally, a price-conscious person seeks to minimize the price paid for an item.

Price Control – A legal limitation placed on market prices by government.

Price Cutting – The practice of reducing the prices of established products or services.

Price Discrimination – The practice of charging different buyers different prices for the same quantity and quality of products or services.

Price Elasticity and Demand – A measure of the sensitivity of demand to changes in price. It is formally defined as the percentage change in quantity demanded relative to a given percentage change in price.

Price Fixing – The practice of two or more sellers agreeing on the price to charge for similar products and services.

Price Guarantee – The practice of vendors offering their customers guarantees against price declines.

Price Guideline – A suggested target for price levels directed at marketers by government officials.

Price Leader – 1. (pricing definition) In competitive situations, the seller who normally initiates price changes in the market. 2. (retailing definition) An item of merchandise priced abnormally low for the purpose of attracting customers.

Price Leadership – The practice in an industry of recognizing and adopting the price established by one or more members of the industry.

Price Lining – 1. (pricing definition) The offering of merchandise at a number of specific but predetermined prices. Once set, the prices may be held constant over a period of time, and changes in the market conditions are adapted to by changing the quality of the merchandise. 2. (retailing definition) A limited number of predetermined price points at which merchandise will be offered for sale.

Price Maintenance – The determination by the manufacturer of the price at which an identified item shall be resold by wholesalers and/or retailers.

Price Off – A stated reduction in the price of a product generally offered by the manufacturer and printed directly on the product package.

Price Promotion – The advertising of a price for a product or service. Usually, the price being promoted is a reduction from a previously established price and may take the form of a lower price, a coupon to be redeemed, or a rebate to be received.

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