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BUSN-1010 Conroy 13
Chapter 13
| Question | Answer |
|---|---|
| Brand | A unique name, symbol, and/or design that identifies an organization and its product or services. |
| Break-Even Analysis | A way of identifying how much revenue is needed to cover the total costs of developing and selling a product. |
| Fixed Costs | Expenses that do not change regardless of how many products are made or sold. |
| Knockoff Brands | Illegal imitations of national brand-name products. |
| Loss Leaders | Products priced at or below cost in order to attract customers. |
| Penetration Pricing | Setting a low price to attract many customers and deter competition. |
| Price Skimming | Setting a high price to make a large profit; it can work when there is little competition. |
| Private-Label Brands | AKA private, store, and dealer brands. Those attached to products distributed by one store or a chain. |
| Product Life Cycle | A model that graphs the four stages that a product or service goes through during the life of its marketability: introduction, growth, maturity, and decline. |
| Psychological Pricing | Sometimes called odd-even pricing, the technique of pricing products or services in odd rather than even amounts to make products seem less expensive. |
| Test Marketing | The introduction of a new product in a limited form to selected geographical markets to test consumers' reactions. |
| Variable Costs | Expenses that vary depending on the numbers of products produced. |
Created by:
chuck2983
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