Price-based selling, the Glossary

Table of Contents

1. 27 relations: Bargaining, Best Buy, Business, Commoditization, Commodity, Competitive advantage, Connexity Inc., Consumables, Consumer, Coupon, Customer, Discounting, Fixed price, Hospitality, Lowe's, Nordstrom, Price war, Pricing, Profit (economics), Progressive Corporation, Promotion (marketing), Retail, Revenue management, RevPAR, Sales, Target Corporation, Walmart.

Bargaining

In the social sciences, bargaining or haggling is a type of negotiation in which the buyer and seller of a good or service debate the price or nature of a transaction.

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Best Buy

Best Buy Co., Inc. is an American multinational consumer electronics retailer headquartered in Richfield, Minnesota.

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Business

Business is the practice of making one's living or making money by producing or buying and selling products (such as goods and services).

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Commoditization

In business literature, commoditization is defined as the process by which goods that have economic value and are distinguishable in terms of attributes (uniqueness or brand) end up becoming simple commodities in the eyes of the market or consumers.

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Commodity

In economics, a commodity is an economic good, usually a resource, that specifically has full or substantial fungibility: that is, the market treats instances of the good as equivalent or nearly so with no regard to who produced them.

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Competitive advantage

In business, a competitive advantage is an attribute that allows an organization to outperform its competitors.

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Connexity Inc.

Connexity (formally Connexity Inc.) is a privately held Los Angeles operator of shopping web sites, including Shopzilla.com.

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Consumables

Consumables (also known as consumable goods, non-durable goods, or soft goods) are goods that are intended to be consumed.

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Consumer

A consumer is a person or a group who intends to order, or use purchased goods, products, or services primarily for personal, social, family, household and similar needs, who is not directly related to entrepreneurial or business activities.

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Coupon

In marketing, a coupon is a ticket or document that can be redeemed for a financial discount or rebate when purchasing a product.

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Customer

In sales, commerce, and economics, a customer (sometimes known as a client, buyer, or purchaser) is the recipient of a good, service, product, or an idea, obtained from a seller, vendor, or supplier via a financial transaction or an exchange for money or some other valuable consideration.

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Discounting

In finance, discounting is a mechanism in which a debtor obtains the right to delay payments to a creditor, for a defined period of time, in exchange for a charge or fee.

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Fixed price

A fixed price is a price designated for a good or a service that is neither subject to bargaining nor bartering.

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Hospitality

Hospitality is the relationship of a host towards a guest, wherein the host receives the guest with some amount of goodwill and welcome.

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Lowe's

Lowe's Companies, Inc. is an American retail company specializing in home improvement.

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Nordstrom

Nordstrom, Inc. is an American luxury department store chain headquartered in Seattle, Washington, and founded by John W. Nordstrom and Carl F. Wallin in 1901.

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Price war

A price war is a form of market competition in which companies within an industry engage in aggressive pricing strategies, “characterized by the repeated cutting of prices below those of competitors”. Price-based selling and price war are pricing.

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Pricing

Pricing is the process whereby a business sets the price at which it will sell its products and services, and may be part of the business's marketing plan.

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Profit (economics)

In economics, profit is the difference between revenue that an economic entity has received from its outputs and total costs of its inputs, also known as surplus value.

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Progressive Corporation

The Progressive Corporation is an American insurance company.

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In marketing, promotion refers to any type of marketing communication used to inform target audiences of the relative merits of a product, service, brand or issue, persuasively.

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Retail

Retail is the sale of goods and services to consumers, in contrast to wholesaling, which is sale to business or institutional customers.

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Revenue management

Revenue management is a discipline to maximize profit by optimizing rate (ADR) and occupancy (Occ).

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RevPAR

RevPAR, or revenue per available room, is a performance metric in the hotel industry that is calculated by dividing a hotel's total guestroom revenue by the room count and the number of days in the period being measured. Price-based selling and RevPAR are pricing.

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Sales

Sales are activities related to selling or the number of goods sold in a given targeted time period.

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Target Corporation

Target Corporation is an American retail corporation that operates a chain of discount department stores and hypermarkets, headquartered in Minneapolis, Minnesota.

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Walmart

Walmart Inc. (formerly Wal-Mart Stores, Inc.) is an American multinational retail corporation that operates a chain of hypermarkets (also called supercenters), discount department stores, and grocery stores in the United States, headquartered in Bentonville, Arkansas.

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References

[1] https://en.wikipedia.org/wiki/Price-based_selling

Also known as Price based selling, Price match, Price matching, Undercutting.