SELF TEST 20A: Evaluating Price Sensitivity Among Customers
What is price sensitivity?
What is a Price Gap?
Before Last Look develops in a marketplace, what might we expect to see as prices for similar products from one competitor to the next?
How do we explain price premiums in a market?
What is a Price Shaver?
What is a Price Leader?
What is the difference between a Price Shaver and a Price Leader?
What is a Leader’s Trap?
What is a Price Umbrella?
Explain Last Look.
What is Positive Volatility due to price?
What is Negative Volatility due to price?
What effects does Last Look have on a marketplace?
Where do lower prices originate in Hostile markets, where prices and returns are already low?
Why are there differences from one customer to the next in prices paid in the marketplace when the market is Hostile?
What are Price Gaps from one competitor to another before and after Last Look?
In a Hostile marketplace, who is responsible for the majority of price declines?
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