A product portfolio is a series of different products that you sell to the market. For example, your company sells television products, cameras, and computers.Its benefits and costsIdeally, you need to have a balanced composition of various
Marketing and Sales
Product Life Cycle
A product life cycle is a series of distinct stages that each product goes through during its commercial life. Each phase requires a different marketing strategy and mix. And so too, each stage has different implications for your profits.Knowing
Price
Price is the monetary value of an item or service. When you buy shoes, you give up some money, which is worth the shoes' price. Price minus cost equals profit generated by the seller.Price as a market signal to change demand and supplyPrices
Target Marketing: Meaning, Why It Matters, How It Works, Pros, Cons
What's it: Target marketing is a marketing activity focused on a target segment. Consumers in these segments have similar needs and tastes and respond to the marketing mix in the same way.To find a target segment, a company must divide the
Brand Name: Meaning, Importance, How to Choose
A brand name is a part of the brand that you can spell. That includes a combination of letters, numbers, or words. This combination forms a name that identifies and distinguishes a company's offerings from those of its competitors.Differences of
Network Effects: Meaning, Examples, Importance, How It Works
Network effects are a phenomenon when a product or service becomes more valuable when more people use it. Because it is more valuable, it causes the number of users to continue to grow. So, in this case, the value of the product or service depends on
Marketing mix element: People
People refer to those who deal with customers. That is one of the seven aspects of the marketing mix. They are essential for marketing success because their service has a direct impact on customer satisfaction and loyalty.What is the marketing
Consumer behavior research
As its name, consumer behavior research is an investigation comprehensively about consumers and their behavior. This research is essential, particularly to how they will reach when receiving various messages. Marketers should understand how
Advertising Copy: Meaning, Importance, Criteria
Advertising copy or ad copy is a verbal or written component of an advertising message. Have You ever seen classified ads or other advertisements in newspapers? Well, the words in the ad are ad copy. In digital advertising, this section is
Advertorial: Meaning, Characteristics, Advantages
Advertorial is an advertisement presented in the style of journalism. This word combines two words, "Advertising" and "Editorial."Advertising is the presentation of material persuasively to the public through mass media to promote goods or
Passive Follower: Definition and Types
A passive follower is an individual who does not show active participation, critical thinking, or independent thinking. Therefore, they are considered not to show initiative or a sense of responsibility.When you become a passive follower, you
Demand-based pricing: Definition and Types
Demand-based pricing is a pricing strategy based on how much the customer is willing to buy for a product or service. In short, companies charge prices based on perceived value as the central element.Types of demand-based pricingIn