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