Across
- 1. in this pricing strategy, the firm would set a price at, for example, $8.99 instead of $9.00, or $29.99 instead of $30.00.
- 4. this is a strategy used by firms that distribute their output to a large number of sales outlets.these firms therefore will achieve the maximum coverage of the market
- 7. firms in the private sector will have their main objective in the long-run of... this occurs when the cost of producing an additional unit of output is equal to the revenue obtained from its sale
- 8. firms may alter its price to maintain market if a customer is paying in cash or if a customer is buying large quantities.
- 9. in this pricing strategy the firm sets it prices high in order to attract trend-setters or the very rich. the firm will keep the same price in the long-run, or reduce its price when competition enters the market.
- 12. this a good where the demand will increase as income increases. if income falls, demand would also fall
- 13. this is a tool of promotion which is a marketing strategy where the product is promoted using short-term attractive initiatives to stimulate its demand
- 16. also called or absorption cost pricing: this occurs where the firm determines the unit cost of production and then adds an agreed
- 17. this is a tool of promotion, this is a promotional activity involving one-way, paid for, communication from producer to potential consumers.
- 19. firms may want to … by selling output at a lower cost than it obtains in the market.
- 22. can be classified as intensive if there are many intermediaries . selective if there are a small number of intermediaries and ……if there is one intermediary
- 25. the role of distribution in an organisation is to get the right product, to the right consumer, at the right time, in a way which is most………….
- 30. this strategy is determined by the retailer.retailers purchase goods from wholesalers, and then add their own percentage mark-up to establish the selling price.
- 31. this is a tool of promotion where a business to create brand awareness among people through media coverage and other modes.
- 32. in this pricing strategy, the firm will reduce the prices of its products for a given period of time, e.g. cell phones at christmas.
- 34. here the firm sets a price at a loss. this is a method of sales promotion. it is believed that consumers will be attracted to the low-cost item in the store, purchase the item as well as other items. this will cover the loss sustained in the low-price
- 35. in this pricing policy competition in the market will determine the price the firm will charge for its product.
Down
- 1. this is a tool of promotion which is a marketing strategy that is employed in the marketing of expensive products by well-trained sales staff; for example, cars and electronic equipment
- 2. is concerned with the movement and storage of goods. its objective is to place the right goods, at the right place, at the right time, at the right cost and in the right condition to the final consumer
- 3. they may sacrifice …for long-term gains to gain dominance in the market.
- 5. an of ………..distribution will enable a firm to make its output available to customers when required at the lowest cost to the firm.the channel the firm uses could be long or short.
- 6. in this pricing policy the firm sets a price based on other prices in the market; here the products are homogenous and therefore there is competition
- 10. the firm will set the price to maximize its … prices are high, as the firm is based on the assumption that high income earners will purchase the item.
- 11. this involves making the product available through a selected number of outlets. selective distribution will be employed, where the producer wishes to have control over the intermediaries
- 14. the formula for…. is price times quantity demanded?
- 15. in the short-run, firms would have …… as their main objective.
- 18. this involves planning, implementing and controlling the physical flow of materials, final goods and related information from the point of origin to meeting consume
- 20. this is a factor that influences the firms pricing decisions particularly when wages and salaries are affected.
- 21. established by firms that are well established in the market. financial resources to sell products below cost of production. they do so to remove any competition in the market
- 23. this a main objective of private firms where a price is set to maximize sales revenue.
- 24. this pricing policy can be used by new firms entering a competitive market. the firm sets a price below the ruling mark
- 26. this is a pricing policy adopted by firms that are innovators in the market. firstly, add its fixed cost and variable cost, and then divide the total cost by the number of units produced. this gives the firm the average cost of production.
- 27. firms promote their products to …..for the product at various stages of the plc
- 28. normally practiced by monopolies. it sells its products in two different markets at two different prices.in one market, demand is elastic; the firm may therefore set a lower price in order to compete.
- 29. this pricing strategy also called contribution pricing is a method of pricing based on the firm using its variable cost or marginal cost of production to establish the price of its output. it is normally used when output levels are changing
- 33. market research will establish perception of the value of the product. consumers will be willing to pay more for a product if they believe they are getting good value for their money