The Marketing Mix - Price

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Across
  1. 2. A strategy in which a large firm sets a market price that smaller firms typically follow
  2. 3. A strategy in which a high price is set to yield a high profit margin
  3. 4. A tactic intended to give the impression of value(e.g. selling a good for £9.99 instead of £10)
  4. 5. The responsiveness of a change in the quantity demanded of a good or service to change in a price
  5. 7. Approaches adopted in order to achieve marketing objectives
Down
  1. 1. A strategy in which low prices are set to break into a market or to achieve a sudden spurt in market share
  2. 2. A tactic in which a firm sets a low price for its product(s) in order to encourage consumers to buy other products that provide profit for the firm
  3. 4. A strategy in which the firm sets very low prices in order to drive other firms out of the market
  4. 6. A pricing approach or techniques used in the short term to achieve specific objectives
  5. 8. A strategy in which a small firm follows the price set by a larger firm