reference price

Definition

The cost that consumers anticipate paying or consider reasonable to pay for a particular good or service. The marketing department of a business will often attempt to assess the reference price for each of the products or services they are promoting in order to set pricing levels appropriately to achieve their marketing goals.

Use reference price in a sentence

Related Videos




http://www.businessdictionary.com/definition/reference-price.html

Have a question about reference price? Ask for help in the
Community
advertise here

Browse by Letter: # A B C D E F G H I J K L M N O P Q R S T U V W X Y Z