marketing mix

4. pattern of sales of a product from introduction to its withdrawal from the market.
8. combination of factors which help the business to take into account customer needs when selling a product – usually summarised as the 4 Ps, which are price, product, promotion and place.
9. type of strategy that businesses use when they are first to enter the market with a new product or service. With price skimming, when a product is released or introduced, it's offered at high price.
10. a price in comparison with competitors.

1. technique in which a company offers a new product at a price significantly lower than its competitors. Once it has gained a large market share and customer base, the company begins to increase the price of the product.
2. the price at the production cost plus a certain profit margin.
3. The amount of money customers have to give up to acquire a product.
5. starts to shrink and sales fall even further. The product is reached where the demand is too low so the product becomes unprofitable and it is withdrawn from the market.
6. refers to the set of believes that customers hold about particular brand.
7. the reduction in the price of an already established service or product to attract customers. Promotional pricing is usually a short term strategy though some retailers use recurring promotional pricing.