What is Packaging? Definition, Types, Functions, Importance, Strategies, and Examples


The finished goods are not safe and transportable from one place to another without packaging. Suppose, you produce milk, but you can not sell it directly to consumers, you need to store the milk and pack it in plastic jugs or paper cartons. For this packing is necessary. Let’s understand what the packaging is, its … Read more

What is Brand Equity? Definition, Types, Components, Process, Importance, and Examples

Brand Equity

The market is saturated with different brands or products so consumers are enjoying different types of products most conveniently. When they use the products they have both positive and negative perceptions about the products. Does this lead to brand equity? Let’s find out. What is Brand Equity? Brand equity is the total value that consumers … Read more

What is a Brand? Definition, Features, Types, Elements, Importance, and Examples

brand Definition

Generally, it is believed that any symbol, term, name, design, logo, even sound, or combination of these are the components that define brands. This is true, but a brand is more than just these elements. Let’s find out what is a brand, its characteristics, types, and importance. What is a Brand? A brand is the … Read more

The 6 Step Process of New Product Development [Exaplained]

New Product Development Process

Process of New Product Development (NPD) New product development (NPD) is the process of bringing a product idea into the market in its physical form or as a service. The process includes the activities like brainstorming ideas, evaluating ideas, market analysis, and finally making the products. Steps for developing a new product vary from organization … Read more

Types of Products (Consumer Products and Industrial Products) Explained

Types of Products

A product is something that is offered to the market either for consumption or reselling purposes. The product can be a tangible item like clothes, rice, etc. as well as an intangible item like consulting or delivery service. Now, let’s understand the different types of products found in the market. Types of Products Generally, every … Read more

What is a Consumer Product? Definition, Types, Characteristics, and Examples

Consumer Product

What is Consumer Product? A consumer product, also called consumer goods is a product that is purchased for consumption purposes by consumers. Consumer products are specially designed for daily consumption by an individual person or household. Consumer goods are either purchased for personal use or household consumption, not for the resell purpose. Examples of consumer … Read more

What is Unsought Product? Definition, Characteristics, Types, and Examples

Unsought Product

What is an Unsought Product? An unsought product is a consumer product that a consumer doesn’t know about or does not want to actively buy even if he is aware of the product. Usually, consumers have no active interest to buy unsought products cause the product will be new to them as well as they … Read more