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
Marketing
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
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,
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
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
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Sales Forecasting: Meaning, Importance and Methods
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
Product Positioning: Meaning, Why It Matters, Type and Strategy
What's it: Product positioning is about placing the product in consumers' eyes and among other products on the market. It is essential to
Mass Market: Characteristics, Examples, Advantages, Disadvantages
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
Niche Market: Meaning, Examples, Advantages, and Disadvantages
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
Demographic: Meaning, Why It Matters, Key Variables
What's it: Demographic refers to a population's characteristics both in terms of size, structure, population distribution, and change. Some of
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Marketing Planning: Meaning, Importance, Steps, and Components
What's it: Marketing planning is the process of defining marketing goals and developing a clear and comprehensive set of programs to achieve
Target Market: Meaning, Importance, and How to Identify
What's it: A target market is a part of the qualified available market in which the company seeks to direct its marketing efforts. The available
Perceived Value: Definition, Determinants
What's it: Perceived value is a consumer's estimate or interpretation of a product's worth. It may be subjective between individuals. You and
Differentiated Product: Meaning, Purposes, How It Works, And Benefits
What's it: Differentiated products refer to unique goods or services, made different from competitors' products and have a different perceived
Above-the-Line Promotion: Meaning, Types and Criteria
What's it: above-the-line promotion refers to promotion through traditional media to easily reach a broad audience. This includes newspapers,
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Niche Marketing: Meaning, Advantages and Disadvantages
What's it: Niche marketing is an effort to promote and sell products to target customers in a narrower market (niche market). Companies adapt