Chapter 7 - Pricing

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Across
  1. 3. ___________ is the result of the price charged to customers multiplied by the number of units sold.
  2. 5. _______-_______ analysis is the process of calculating the break-even point, which equals the sales volume needed to achieve a profit of zero.
  3. 6. ___________ _________ are the prices that consumers consider reasonable and fair for a product.
  4. 8. strategy in which two or more products are packaged together and sold at a single price.
  5. 9. are costs that vary depending on the number of units produced or sold.
  6. 11. _____________ pricing - This pricing strategy is designed to maximize volume and revenue for a firm, as well as encourage a greater volume of purchases.
  7. 12. the amount a product sells for above the total cost of the product itself.
  8. 14. _______ ________ is the change in total cost that results from producing one additional unit of product.
  9. 15. provides value for customers who are focused on a specific price point rather than the complete product offering.
  10. 17. ______ ___________ of demand is a measure of price sensitivity that gives the percentage change in quantity demanded in response to a percentage change in price.
  11. 19. _____________ demand refers to a situation in which a specific change in price causes only a small change in the amount purchased.
  12. 20. Profit ___________ - This pricing strategy involves setting a relatively high price for a period of time after the product launches.
  13. 21. break-even _________ is the point at which the costs of producing a product equal the revenue made from selling the product.
  14. 22. __________ _________ is where demand changes significantly due to a small change in price.
Down
  1. 1. ___________ is the change in total revenue that results from selling one additional unit of product.
  2. 2. charging someone less than they are willing to pay, is a common mistake in pricing.
  3. 4. amount of something—money, time, or effort—that a buyer exchanges with a seller to obtain a product.
  4. 7. an agreement that provides for price increases depending on certain conditions.
  5. 8. pricing strategy that involves pricing a product higher than competitors to signal that it is of higher quality.
  6. 10. _______________ pricing - This pricing strategy involves lowering prices to the point at which revenue just covers costs, allowing the firm to endure during a difficult time.
  7. 13. pricing tactic in which a firm prices its products a few cents below the next dollar amount.
  8. 16. costs that remain constant and do not vary based on the number of units produced or sold.
  9. 17. simply revenue minus total cost.
  10. 18. a pricing method in which a certain amount is added to the cost of the product to set the final price.