What's it: A value-added product is any product we can sell at a price higher than it cost to produce it. It can have a broad meaning, like what
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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
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
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
Semi-finished Goods: Meaning, Examples, Calculation in GDP
What's it: Semi-finished goods are processed raw materials not for final consumption but as input for other goods' production. We also call them
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Consumer Service: Meaning, Examples, Differences with Consumer Goods
What's it: Consumer service is an intangible product offered to households, not to businesses. Service delivery involves service providers, e.g.,
Consumer Goods: Definition, Types and Examples
What’s it: Consumer goods are goods for end-use by consumers without further commercial process. They range from durable products such as
Capital Goods: Meaning, Examples, Importance
What's it: Capital goods refer to man-made goods useful for producing goods or providing services. Machinery, buildings, equipment, and logistics
Services: Definition, Examples, Characteristics, How to Measure
What's it: A service is an intangible product representing any action or activity to provide a solution to another party without involving the
Goods: Definition, Importance, Types
What's it: Goods refer to tangible products to satisfy our needs and wants. We can physically see it, touch it, and store it for future use. They
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Product: Types, Why It Matters, and How To Attract Consumers
What's it: A product is anything we use to satisfy a need or want. Marketing experts divide it into two: goods and services. Goods represent