Different Pricing Terms

Topics

price, definitions

Review the activity below or download the PDF student worksheet

Student Worksheet: Different Pricing Terms


Student Discussion Activity

Introduction

Traditionally price was often a marketing mix decision that is made by the financial function/department in a firm. This was happened historically as prices were based on a simple mark-up (from costs) approach.

However, in recent years, marketing has become more actively involved in pricing decisions, as competitor pricing, relationships, and consumer’s perception of value have become more important in the decision.

When referring to price, different industries/firms will use different jargon. In this activity, match the industry to the pricing jargon that they use.

Activity/Task

Pricing Jargon

Match to: Industry/Organization

Fees

Motel
Rent

Bank

Interest

Insurance

Charges

Road/motorway
Tax

University

Tariff

Charity
Hourly rate

Government

Fares

Real estate
Toll

Airline

Premiums

Magazine
Subscription

Mobile phone

Donation

Lawyer

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