Base Price

Base Price

Also referred to as non-promoted price, it is the average price of an item across all stores.

Market conditions, competition, and production costs constitute the base price.

Related Terms

Product Variants

A specific version of a ‘master’ product that is differentiated by one or more attributes, such

Prestige Pricing

A pricing strategy where products are priced at a premium to signal superior quality and status,

Just in time inventory

An inventory management that is focused on optimizing inventory levels by receiving raw materials and components