1.
compare prices of goods and services
2.
aim to maximise revenue and profits by filling capacity (airlines, stadium tickets)
3.
to give the impression of value (99p -> £1.00)
4.
firm sets very low proces (often below costs of production) in order to drive other firms out the market
5.
low prices to break/penetrate into the market
6.
used during the introduction of a product - appeals to early adoptors
7.
business have to set high prices to make a profit
8.
factors that determines the most appropriate pricing strategy
10.
setting priuces with all competitors following - needs dominace or a strong brand built over time
