Matching Pairs Purchasing StrategiesOnline version Matching purchasing strategies 3-2 by Jennifer Vance 1 The process of selecting goods and services based on need, want and logical choices. 2 The process of purchasing products based on desire rather than logic 3 Setting a price based on production cost plus a markup 4 Setting a price to be competitive with prices of similar products. 5 Getting the highest value for the money spent 6 The percentage amount added to production cost to obtain the price of an item 7 Saving as much as possible and spending money only when necessary 8 Setting an introduction price high to recover the research and development costs. 9 Purchasing something on the spur of the moment without any planning 10 A profit that allows a business to survive and grow impulse buying optimizing cost-recovery pricing economizing market based pricing rational buying cost-plus pricing normal profit emotional buying markup
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