Convenience Products – Definition Types & Examples
Convenience products refer to those types of consumer products and services that consumers buy more frequently with minimum buying efforts and comparisons.
Author: Umar Farooq
Marketing Mix 4Ps, 7Ps and 4Cs
The marketing mix is an important and well-known marketing concept. The marketing mix covers the tactical part of any marketing plan. This concept is also called 4Ps and 7Ps of marketing. The 4Ps are Product, price, placement and promotion.
What is a Market, Definition and Types of Market
A market can be defined as a place where buyers and sellers meet to exchange goods, services and other relevant information is called a market. Both these parties can meet in a city, state, province, country and region. The market may be a physical or virtual.
Product Lifecycle Management
Product Lifecycle Management (PLM) is a strategic process of allocating resources – how to reduce cost and introduce the product in the market that is according to customer needs and wants.
Product Life Cycle Stages
Consumers buy unlimited products every day. Like a human being, every product has a certain life cycle. products start its journey and get older and popular but after some time become less popular and demand for new products increases when introduced in the market. When a company launches a new product, it must be familiar with its different product life …
8 Steps of New Product Development
New Product Development is a process. It is a pathway that directs you to the actual product and actual product lead you to the market. Before company introduce a new product in the market, it goes through almost 8 stages.
What is Product Mix
Product mix or product assortment is a set of total number of products lines that a seller offers in the market to its buyers. The company may have one or several product lines and each product line may have several products.
What is a Product? – Definition and Explanation
We can define a product anything – goods, services and ideas - that can be offered in a market to satisfy customer needs and wants. Product have a bundle of tangible and intangible characteristics.
5 C’s of Marketing (Situational Analysis) with Examples
5 C’s of marketing is a useful framework to perform situation analysis. The 5 C’s of marketing analysis allows doing environmental scanning of five important component that improves marketing decision making process. These components include the internal and external environmental situation of a company.
3 C’s of Marketing Strategic Concept
The 3 C’s of marking is a very popular concept for marketers. This concept takes into consideration 3 variables to explain a complete marketing strategy. The 3 C s, customers competitors and company, is a strategic triangle when integrated, a sustainable competitive advantage can be achieved.