Topics
price, definitions
Review the activity below or download the PDF student worksheet
- Student Worksheet: Different Pricing Terms
- Instructor Solutions (Members Only): Different Pricing Terms = Solutions
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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