Across
- 3. The degree of customer knowledge and recognition of a particular brand in order to gain more customers.
- 7. Describes one of the purposes of promotion in the marketing mix, which is used to notify or tell customers about a firm’s products.
- 8. Adds a profit margin to the costs of production, thereby ensuring that each unit sold contributes towards the profits of the firm.
- 9. The registered name used to identify a product of a particular business organization.
- 12. Marketing approaches used to prolong or lengthen a product’s life cycle, e.g., price reductions or new promotional strategies.
- 13. The value of a good or service that is paid by the customer.
Down
- 1. Describes one of the purposes of promotion in the marketing mix, which is used to encourage or convince customers to make a purchase and to improve customer loyalty.
- 2. A pricing method that involves a firm setting low prices so as to gain entry in a new market. The firm will then raise the price once the product or brand has established itself in the industry.
- 3. Part of a firm’s marketing strategy in communicating the value of a brand and what the brand stands for.
- 4. The expected earning potential of a brand, i.e., the likely future earning potential (value) of a particular brand.
- 5. This refers to the ways in which a service is provided or delivered, such as various payment systems, queuing systems, after-sales care, and delivery service options.
- 6. The degree of customer devotion to a particular brand.
- 10. Pricing a product below its cost of production so as to attract customers to also buy other items (with a higher profit margin).
- 11. This refers to both physical (goods) and non-physical (services) items sold by a business or purchased by a customer.