Chapter 10 Marketing Principles

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Across
  1. 3. when a company introduces a product at a low price to gain market share
  2. 4. a theory in price setting that states that people tend to avoid extreme options, including in price, and they often choose a middle option
  3. 5. a pricing strategy that takes into account both variable costs and fixed costs
  4. 12. an industry in which companies tend to fight with price. A company's main strategy for winning customers in this type of industry--their main differentiator is to simply have the lowest price
  5. 14. the amount a marketer needs to price a product in order to cover expenses at a certain quantity sold
  6. 16. the change in demand in a market in response to a product's change in price
  7. 18. a strategy in which a marketer introduces a product into the market at an initial high price and then incrementally lowers the price over time
  8. 19. the quantity a company needs to sell at a certain price in order to cover fixed costs
  9. 20. using another price as a reference point to make a product's price seem more appealing
  10. 21. this stands for the absolute minimum that a company can sell a product for and still break even
  11. 22. packaging two or more goods or services together to sell them for a single packaged price
  12. 23. the difference between the final selling price and the product's cost as well, but it is shown as a ratio or percent of the selling price
  13. 24. a price or price range the customer believes to be fair or standard based on his or her knowledge or experience
Down
  1. 1. a method of setting prices based on the perceived value that the customer receives from the product or service
  2. 2. a strategy in which a company charges one rate for unlimited use of a service during a specified timeframe
  3. 6. a pricing strategy in which a variable rate is used for each customer, often based on the product or service's demand
  4. 7. an added percentage or dollar amount added to the cost to determine its selling price
  5. 8. a pricing strategy where a company chooses to sell a popular item at an artificially low price, often below the company's product cost, to attract people to the store
  6. 9. the costs associated with the operating and marketing expenses of a company
  7. 10. this is a marketer-supplied price to give consumers an idea of what the product is worth
  8. 11. a strategy in which product features can be added and purchased individually so that a consumer can essentially choose the final price of the product
  9. 12. a pricing strategy which calculates variable costs only
  10. 13. a pricing strategy in which a marketer offers a price break for purchasing multiple units of a product
  11. 15. setting a high price so that the product will be considered elite, and so that status-seeking customers will want to buy it
  12. 17. an industry in which companies tend to use more complex pricing structures and use more pricing options
  13. 25. (AKA $0.99 pricing) when a marketer sets the price of a product a few cents or a few dollars/cent under an even number