The term 'Consolation Word' is used to refer to a word or phrase that is given to those who do not win a PRIZE. The five-letter solution for this term is 'HOPE', which is often used as a source of comfort and encouragement in difficult times. The five-letter solution for 'PRIZE' is 'AWARD', which is given to the winners of a competition or contest. The six-letter solution for 'LOSERS' is 'DEFEAT', which is the opposite of victory and is experienced by those who do not win a PRIZE.