| A | B |
|---|
| Price elasticity | A measure of how sensitive customers are to changes in price |
| Price skimming | A pricing strategy that involves setting prices higher than those of the competition |
| Pricing | A marketing function that involves the determination and adjusting of price to maximize returns and meet customers’ perceptions of value |
| Pricing objectives | Goals a company hopes to accomplish through its pricing strategies |
| Product | Marketing element referring to what goods, services, or ideas a business will offer its customers |
| Promotion | Marketing element referring to the various types of communications that marketers use to inform, persuade, or remind customers of their products |
| Psychographic segmentation | The division of a market on the basis of customers’ lifestyles and personalities |
| Tangible | Able to be detected through at least one of the five senses (sound, taste, sight, smell, touch) |
