price setting
Deciding the cost
Price setting is the process of determining what to charge for goods or services.
Businesses engage in price setting based on costs, competition, and market demand.
The term often appears in discussions of antitrust law, where competitors who coordinate their price setting engage in illegal collusion: The companies were accused of price setting to eliminate competition.
- competitive analysisSystematic study of market opponents
- going ratePrevailing cost for something
- fair market valueObjective exchange price
- antitrust lawsRegulations preventing corporate monopolies
- race to the bottomCompetition through degraded standards
consumer preferences · marginal cost · bundling · elasticity · perfect competition · market segmentation · MSRP · markup · opportunity cost · sunk cost · exchange rates · loss leader · bottom dollar · cartel
price settingprice negotiation
Discussing terms of payment
haggling · bargaining · negotiation · bidding · auction
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