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 … Read more...

How services add value

 

What is a service?

A common definition for a service in marketing terms is:

A service is any performance, experience or act (that one party can offer to another and that is essentially intangible and does not result in Read more...

List of Benefits and Costs

 What are some possible benefits and costs when determining customer value?

A fundamental concept in successful marketing activities is the offering of value to the firm’s target market/s.

Benefits are delivered through design aspects and product attributes that provide some … Read more...