Definitions
- Referring to the act of repeating a previously stated quote or statement. - Talking about the process of providing a new quote or price for a product or service after the initial quote has expired or changed. - Describing the action of correcting a previously misquoted statement or price.
- Referring to the act of changing the price of a product or service. - Talking about the process of updating the cost of an item due to changes in market conditions, demand, or supply. - Describing the action of adjusting the price of a product or service to remain competitive or profitable.
List of Similarities
- 1Both words involve changing a previously established value.
- 2Both words are used in business and financial contexts.
- 3Both words can be used to correct errors or inaccuracies.
- 4Both words require a previous reference point to make changes.
What is the difference?
- 1Meaning: Requote refers to repeating a previously stated quote or providing a new quote after the initial one has expired or changed, while reprice refers to changing the price of a product or service due to market conditions, demand, or profitability.
- 2Usage: Requote is typically used in the context of providing a new quote for a product or service, while reprice is used to describe the act of changing the price of a product or service.
- 3Frequency: Reprice is more commonly used than requote in everyday language.
- 4Scope: Reprice can refer to changing the price of a single item or an entire product line, while requote usually refers to a specific quote or statement.
- 5Connotation: Requote is often associated with correcting a mistake or providing updated information, while reprice can be associated with adjusting prices for strategic or financial reasons.
Remember this!
Requote and reprice are two words that are commonly used in business and financial contexts. While both words involve changing a previously established value, they have different meanings and usage. Requote refers to repeating a previously stated quote or providing a new quote after the initial one has expired or changed, while reprice refers to changing the price of a product or service due to market conditions, demand, or profitability. Reprice is more commonly used than requote in everyday language.
