Asset-led marketing has both advantages and disadvantages. Although more focus on internal strengths to satisfy consumer's needs and wants is relatively inexpensive, core competencies are not always relevant to market demands. The market
Marketing
How to Calculate Market Growth Rate
The market growth rate shows us the percentage change in market size. It can be positive or negative and varies over time due to several factors such as changes in consumer income and consumer tastes and preferences. Positive growth is more
Value Added Formula and How To Calculate It
Calculating added value is straightforward. The value-added formula requires only simple linear mathematical operations. We only need two data: price and cost. Well, in this article, we discussed the value-added formula at the beginning. Then, we
2 Types of Products: Goods and Services. What’s the difference?
The two types of products are goods and services. We may use the two interchangeably. But, in business, marketers differentiate between the two. Goods represent tangible products such as clothing, laptops, smartphones, bicycles, cars, food, and
Product Marketing Strategy To Achieve Competitive Advantage
Some companies develop a product marketing strategy by differentiating their offerings. While others focus on cost and offer standard products. Both can be successful in gaining a competitive advantage. How did they develop it? What should they focus
Primary Research: Methods, Advantages, and Disadvantages
What's it: Primary research is a type of research where the researcher directly takes data from the original source. In other words, researchers are the first to collect data. Data may be qualitative or quantitative information. Qualitative
Secondary Research: Meaning, Sources, Advantages, Disadvantages
What's it: Secondary research, or desk research, is a type of research using external data sources, not original data sources. In other words, you are not first hand and therefore have no control over the accuracy of the data. For example, you
Unique Selling Proposition: Importance, How it Works and Examples
What's it: A unique selling proposition shows you a set of product benefits and solutions to satisfy customer needs and differentiate it from competitors' products. That is the main reason consumers buy a product, even though the price may be
7Ps Marketing Mix: Importance and Components
What's it: 7Ps is an extended marketing mix by considering the specific characteristics of services. The 7Ps marketing mix consists of: Product PricePlace PromotionPhysical evidencePeopleProcess 7Ps components 7Ps are