Jun 052015
 

Any organization/brand is faced with an almost unlimited selection of choices and opportunities in the marketplace. For example, there are literally thousands of different ways that firms can choose to promote their activities. There are millions of different products available in the marketplace that firms can choose to produce and Read full article…

Jun 042015
 
Markets, exchange and target markets

When studying marketing it is important to understand the concept of a market and the exchange process. When we use the term “market” in a marketing sense, there are actually three possible views that we are considering – the overall market, any sub-markets and the brand’s target market/s. Overall market Read full article…

Jun 042015
 

The two dimensions of customer satisfaction The customer’s assessment of their satisfaction following a purchase and consumption of a product involves a comparison of two views: What were their EXPECTATIONS of value prior to purchase? What was their perception of the value delivered AFTER purchase? The consumer will engage in Read full article…

Jun 032015
 
What is a benefit?

Defining benefits in marketing terms In marketing, the word benefit refers to some advantage or positive outcome for the consumer. That is, the consumer is better off due to the purchase/consumption of the product. Products are designed to solve problems or meet needs of consumers. Therefore, an appropriate product design Read full article…

Feb 192015
 

In marketing textbooks, consumer products are often shown classified into one of four classes – namely, convenience products, shopping products, specialty products, and unsought products. This is a very old marketing model that is still current and relevant today. There are several articles on this website discussing the specific marketing Read full article…

Feb 172015
 

In marketing textbooks, when discussing the product mix, the consumer product classification system is usually discussed. Please note that there are several articles on this website relating to the consumer product classification system, such as how products are classified, examples of the different classes, and why this classification system is Read full article…

Feb 172015
 
Why classify consumer products?

Please note that this is one article on the consumer products classification system, which discusses why this classification system is helpful. There are also other articles on this website that discuss how products are classified and how the system guides marketing mix decisions – also please refer to Related Topics Read full article…

Feb 172015
 
Consumer Products Classification System

The consumer products classification system is a model commonly presented in most marketing principles textbooks in the product mix chapter. This model classifies as consumer products into one of four classes, namely: Convenience products Shopping products Specialty products Unsought products There are numerous articles discussing the consumer products classification system Read full article…

Feb 162015
 
Product at the center of the marketing mix

The importance of product in the marketing mix Marketing textbooks typically list all four elements (that is, the 4P’s) of the marketing mix equally in their diagrams. However, these textbooks usually structure product as the first chapter of the marketing mix. This clearly indicates there is some hierarchy to the Read full article…

Sep 042014
 

  Definitions of Customer Satisfaction A nice, easy-to-remember customer satisfaction definition is: Customer satisfaction is a consumer’s perception of how well an organization has delivered on their communicated value proposition. The key points to note about this definition are: Customer satisfaction is the perception of a consumer, It is primarily Read full article…