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Management

Durable Goods: Meaning, Characteristics, Examples, And Importance

By Ahmad Nasrudin · Updated on April 17, 2022

Durable Goods Meaning Characteristics Examples And Importance

What's it: Durable goods are a category of tangible products with long economic life, usually more than three years. You can use or consume them repeatedly and continuously during their economic life. During that period, you can continue to use

Tags: Durable Goods, Marketing, Product

Marketing

Primary Research: Methods, Advantages, and Disadvantages

By Ahmad Nasrudin · Updated on April 15, 2022

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

Tags: Market Research, Marketing

Marketing

Secondary Research: Meaning, Sources, Advantages, Disadvantages

By Ahmad Nasrudin · Updated on April 15, 2022

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

Tags: Market Research, Marketing, Secondary Research

Marketing

Unique Selling Proposition: Importance, How it Works and Examples

By Ahmad Nasrudin · Updated on April 11, 2022

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

Tags: Market Positioning, Marketing, Unique Selling Proposition

Marketing

7Ps Marketing Mix: Importance and Components

By Ahmad Nasrudin · Updated on December 14, 2020

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

Tags: Marketing, Marketing Mix

Marketing

Sales Forecasting: Meaning, Importance and Methods

By Ahmad Nasrudin · Updated on April 15, 2022

What's it: Sales forecasting attempts to predict future sales for a specific period and with certain basic assumptions. It may be a sales value or sales volume. In contrast to sales volume, you need to assume price and volume to predict the

Tags: Marketing, Marketing Plan, Sales Forecasting

Marketing

Product Positioning: Meaning, Why It Matters, Type and Strategy

By Ahmad Nasrudin · Updated on April 15, 2022

What's it: Product positioning is about placing the product in consumers' eyes and among other products on the market. It is essential to influence customer perceptions of the value of a product. For example, Apple positions the iPhone as a

Tags: Market Positioning, Marketing, Product Positioning

Marketing

Mass Market: Characteristics, Examples, Advantages, Disadvantages

By Ahmad Nasrudin · Updated on December 11, 2020

What's it: A mass market is a large market with little or no difference in tastes and needs between consumers, at least in companies' eyes. The company targets many end consumers and assumes they need the same product and marketing mix.

Tags: Marketing, Mass Market, Target Market

Management

Niche Market: Meaning, Examples, Advantages, and Disadvantages

By Ahmad Nasrudin · Updated on December 10, 2020

What's it: A niche market is a specific, small segment of a market with fewer competitors than the general market as a whole. It consists of a group of consumers with similar characteristics. They have unique needs and preferences, which makes

Tags: Marketing, Niche Market, Target Market

Management

Demographic: Meaning, Why It Matters, Key Variables

By Ahmad Nasrudin · Updated on December 10, 2020

What's it: Demographic refers to a population's characteristics both in terms of size, structure, population distribution, and change. Some of the critical demographic variables include population density, age, marital status, gender, race,

Tags: Human Resources, Market Segment, Marketing

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