Chapter 16

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Across
  1. 3. A unique identifier for a product that distinguishes it from competitors.
  2. 7. The value a brand gains through consumer awareness, loyalty, and recognition.
  3. 9. Determining a product’s price by adding a markup to its production cost.
  4. 11. Costs that remain constant regardless of production levels, like rent or salaries.
  5. 12. Setting a high price initially and lowering it over time
  6. 19. The combination of benefits including tangible and intangible attributes.
  7. 23. Setting prices based on competitors' pricing strategies.
  8. 24. Costs that vary with production volume, such as raw materials or hourly wages.
  9. 26. Using pricing tactics to appeal to customers’ emotions or perceptions, such as $9.99
  10. 27. The method businesses use to set prices for their products or services.
Down
  1. 1. A product that imitates the design or branding of a popular product but lower price
  2. 2. The complete range of products a company offers.
  3. 4. Physical features of a product, such as its size, color, or material.
  4. 5. The creation of real or perceived product differences to make a product stand out
  5. 6. A group of related products offered by a company.
  6. 8. Non-physical benefits of a product, such as brand reputation or customer service.
  7. 10. Products that are not branded but are of comparable quality and sold at lower prices.
  8. 13. Setting a low price to enter a market and attract customers quickly.
  9. 14. When a leading company sets the price standard for others in the industry.
  10. 15. Analysis A tool used to determine the sales volume required to cover all costs.
  11. 16. Setting prices based on what customers are willing to pay.
  12. 17. A pricing strategy that offers consistently low prices without frequent sales.
  13. 18. Legal protection for a brand name and its associated design elements.
  14. 20. Point The point at which total revenue equals total costs
  15. 21. A strategy that involves regularly alternating between high and low prices.
  16. 22. Products Goods that meet or exceed customer expectations in reliability, durability
  17. 25. Determining a price based on what consumers are willing to pay and adjusting costs