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Fatima needs a manicure and books an appointment at a local spa in her neighbourhood. While waiting for her appointment to begin, Fatima notices that all of the brochures in the waiting room advertise anti-aging products and services. These ads promise to "turn back the clock" to give users a more youthful appearance. What is Fatima seeing evidence of in her spa's waiting room?
Odd Pricing
A pricing strategy that sets prices at figures ending in odd numbers, like $4.99, under the belief that they seem lower to consumers.
Seven-Step Sales Process
A sequence of steps salespeople follow to sell a product, typically including preparation, approach, presentation, handling objections, closing, and follow-up.
Penetration Pricing
A pricing strategy that involves setting lower than normal prices for a new product or service to attract customers away from competitors.
Profitability Objectives
Common objectives included in the strategic plans of most companies.
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