| A | B |
|---|
| Break even point | Marketer's relative standing/ranking in relation to competitors. |
| elastic demand | competitors agree on certain price ranges within which they set their own prices. |
| inelastic demand | calculation used to determine the relatice profitability of a product |
| loss leader | In states where minimum price laws are not in effect, an item priced at cost to draw customers into a store. |
| market position | Value of money (or its equivalent) placed on a good or service. |
| market share | Refers to situations in which a change in price creates a change in demand. |
| price | A firm charges different prices to similar customers in similar situations |
| price discrimination | Allows customers to compare prices in relation to a standard unit or measure, such as an ounce or a pound. |
| price fixing | Refers to situations in which a change in price has very little effect on demand for a product. |
| return on investment | Point at which sales revenue equals the costs and expenses of making and distributing a product. |
| unit pricing | A firm's percentage of the total sales volume generated by all competitors in a given market. |
