Posts published in “MARKETING MIX – PRODUCT”

There’s a popular phrase in economics: “There’s no such thing as a free lunch.” Even free goods come with hidden costs—processing, access, infrastructure, or environmental impact.

Consumer products are typically divided into three major categories: convenience items, shopping goods, and specialty products.

So, a product is considered value for money when it delivers strong benefits for the price paid.

But what about those essential things we all benefit from, regardless of whether we directly pay for them? Enter the realm of public goods.

Product cannibalization is a term that gets tossed around a lot in the business world, but what does it really mean, and how should companies think about it?

Life Cycle Assessment (LCA) means evaluating the environmental impacts of a product or service throughout its life cycle.

Growth Hacking is a data-driven approach to marketing and product development that focuses on rapid experimentation and iteration.

Conjoint Analysis helps to understand how different consumers value different attributes of a product - good or service.

These popular products can help you become more successful at business management and better at personal finance. I carefully choose the best stuff.

Minimum Viable Product (MVP) is the most basic version of a product released to gather maximum customer feedback with minimal effort.

Field testing of new products provides invaluable insights that can make the difference between a market triumph and a costly flop.

Total Product Experience (TPE) recognizes that the value of a product extends beyond its functional capabilities, encompassing emotional and social factors.

Field-testing, also known as market testing or test marketing, is a controlled experiment conducted in a real-world setting to evaluate the effectiveness.

Understanding the difference between merit goods and demerit goods is crucial for grasping how markets function and why governments intervene.

The McKinsey / General Electric Matrix overcomes a number of the disadvantages of The Boston Consulting Group Matrix in planning product portfolio.