1. Selling price.
2. Pricing strategy.
3. Fixed expenses/costs.
4. Variable expenses/costs.
5. Elastic demand.
6. Inelastic demand.
7. Price fixing.
8. Price skimming.
9. Bait-and-switch advertising.
10. Pricing policy.
11. Psychological pricing.
12. Unit price.
13. Break-even point.
14. Penetration pricing.
15. Product line pricing.
16. Promotional pricing.
17. Goods on hand.
18. Markup pricing.
And 5 sentences for each one and it being for a doggy daycare.
1. Selling price: The selling price for our doggy daycare services is determined based on the cost of providing care for each dog, as well as market rates in the area. We aim to set a competitive selling price that reflects the quality of care we provide while also remaining attractive to customers. Our selling price may vary depending on the specific services requested by the customer.
2. Pricing strategy: Our pricing strategy for the doggy daycare involves offering different packages and services at varying price points to cater to different customer needs and budgets. We also utilize pricing incentives such as discounts for regular customers or multi-dog households to encourage loyalty. Additionally, we periodically review and adjust our pricing strategy to stay competitive in the market.
3. Fixed expenses/costs: Fixed expenses for our doggy daycare include rent for the facility, utilities, insurance, and salaries for staff members. These costs remain constant regardless of the number of dogs in our care. By understanding our fixed expenses, we can accurately calculate our breakeven point and set prices that cover these costs while still generating profit.
4. Variable expenses/costs: Variable expenses for our doggy daycare include items such as food, grooming supplies, and toys. These costs fluctuate based on the number of dogs in our care and the specific services they require. By closely monitoring and controlling our variable expenses, we can optimize our pricing strategy to maximize profit margins.
5. Elastic demand: In a doggy daycare setting, elastic demand refers to customers being highly responsive to changes in pricing. For example, if we were to increase our prices significantly, customers may seek alternative care options or reduce the frequency of visits. To address elastic demand, we carefully consider price changes to ensure they do not negatively impact customer retention.