1. _______________ ____________________and _______________ are
typically experience products in that consumers must use a product
to ascertain that it offers better

value

2. Firms with ________________ ___________________ recognize
that they have flexibility in pricing and are more impacted by the
actions of rivals.

3. ______________________________ is making customers aware of a
product’s
popularity, reputation, or other signals that suggest high
value.

4. _________________ is a benefit or cost imposed on someone who
is not a party to the transaction that causes it.

5. A radio broadcast illustrates the difference between
________________ and ______________ based upon who can receive the
transmission. (2 pts).