Price discriminationPrice discrimination is a microeconomic pricing strategy where identical or largely similar goods or services are sold at different prices by the same provider in different market segments. Price discrimination is distinguished from product differentiation by the more substantial difference in production cost for the differently priced products involved in the latter strategy. Price differentiation essentially relies on the variation in the customers' willingness to pay and in the elasticity of their demand.
Price gougingPrice gouging is the practice of increasing the prices of goods, services, or commodities to a level much higher than is considered reasonable or fair. Usually, this event occurs after a demand or supply shock. This commonly applies to price increases of basic necessities after natural disasters. The term can also be used to refer to profits obtained by practices inconsistent with a competitive free market, or to windfall profits. In some jurisdictions of the United States during civil emergencies, price gouging is a specific crime.
Price skimmingPrice skimming is a price setting strategy that a firm can employ when launching a product or service for the first time. By following this price skimming method and capturing the extra profit a firm is able to recoup its sunk costs quicker as well as profit off of a higher price in the market before new competition enters and lowers the market price. It has become a relatively common practice for managers in new and growing market, introducing prices high and dropping them over time.
WirelessWireless communication (or just wireless, when the context allows) is the transfer of information (telecommunication) between two or more points without the use of an electrical conductor, optical fiber or other continuous guided medium for the transfer. The most common wireless technologies use radio waves. With radio waves, intended distances can be short, such as a few meters for Bluetooth or as far as millions of kilometers for deep-space radio communications.
Price fixingPrice fixing is an anticompetitive agreement between participants on the same side in a market to buy or sell a product, service, or commodity only at a fixed price, or maintain the market conditions such that the price is maintained at a given level by controlling supply and demand. The intent of price fixing may be to push the price of a product as high as possible, generally leading to profits for all sellers but may also have the goal to fix, peg, discount, or stabilize prices.
Pricing strategiesA business can use a variety of pricing strategies when selling a product or service. To determine the most effective pricing strategy for a company, senior executives need to first identify the company's pricing position, pricing segment, pricing capability and their competitive pricing reaction strategy. Pricing strategies and tactics vary from company to company, and also differ across countries, cultures, industries and over time, with the maturing of industries and markets and changes in wider economic conditions.
Fixed wirelessFixed wireless is the operation of wireless communication devices or systems used to connect two fixed locations (e.g., building to building or tower to building) with a radio or other wireless link, such as laser bridge. Usually, fixed wireless is part of a wireless LAN infrastructure. The purpose of a fixed wireless link is to enable data communications between the two sites or buildings. Fixed wireless data (FWD) links are often a cost-effective alternative to leasing fiber or installing cables between the buildings.
Message queueIn computer science, message queues and mailboxes are software-engineering components typically used for inter-process communication (IPC), or for inter-thread communication within the same process. They use a queue for messaging – the passing of control or of content. Group communication systems provide similar kinds of functionality. The message queue paradigm is a sibling of the publisher/subscriber pattern, and is typically one part of a larger message-oriented middleware system.
Competition (economics)In economics, competition is a scenario where different economic firms are in contention to obtain goods that are limited by varying the elements of the marketing mix: price, product, promotion and place. In classical economic thought, competition causes commercial firms to develop new products, services and technologies, which would give consumers greater selection and better products. The greater the selection of a good is in the market, the lower prices for the products typically are, compared to what the price would be if there was no competition (monopoly) or little competition (oligopoly).
Wireless networkA wireless network is a computer network that uses wireless data connections between network nodes. Wireless networking allows homes, telecommunications networks and business installations to avoid the costly process of introducing cables into a building, or as a connection between various equipment locations. Admin telecommunications networks are generally implemented and administered using radio communication. This implementation takes place at the physical level (layer) of the OSI model network structure.
