S & E Marketing Ch 8

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Across
  1. 2. All of the costs associated with running a business in addition to the cost of the merchandise
  2. 5. The amount that is added to the cost of a product or service to cover operating expenses and to allow for a profit
  3. 7. The relationship between price and supply—when the price goes up, the supply produced goes up; when the price goes down, the supply produced goes down
  4. 8. The ups and downs of the economy
  5. 10. discrimination: Occurs when an individual, group, or business is charged a higher price than others purchasing the same product or service
  6. 13. The inverse relationship between price and demand—when the price goes up, demand goes down; when the price goes down, demand goes up
Down
  1. 1. A period of moderate demand
  2. 3. The point at which supply and demand are the same
  3. 4. Distinct categories of merchandise based on price, quality, and features
  4. 6. A strategy whereby the price of a product is reduced below the store’s cost to create more customer traffic
  5. 9. Occurs when a product that is advertised at a low price is “out of stock,” so the salesperson tries to sell customers a higher-priced alternative
  6. 10. Occurs when related businesses conspire to charge high prices
  7. 11. Occurs when prices for goods and services rise faster than consumer income
  8. 12. The lack of resources