What is a Core Product? Definition, Importance, and Examples

Core Product

The product we buy is an actual product as well as an augmented product but these products are made up of a core product. Whenever a consumer buys a product he buys an either actual or augmented product. So, where the core product stays? Let’s find out what it is, why it is important, and … Read more

What is an Augmented Product? Definition, Types, Importance, and Examples

Augmented Product

What is an Augmented Product? An augmented product is the addition of additional features to the actual product to provide extra value to consumers. It is also called extended product or product augmentation. These additional features can be provided in the form of discounts, free delivery, warranties, refunds, and so on. The main objective of … Read more

What is an Actual Product? Definition, Importance, and Examples

Actual product

What is an Actual Product? An actual product is a physical or tangible product that is ready to use. It is the product consumers can hold in their hands when they purchase. Through actual products, consumers get the core benefits of the product. For example, if you seek actual benefits from a product in writing, … Read more

8 Key Differences Between Line and Functional Organizational Structure

Line and Functional Organizational Structure

Line Vs. Functional Organizational Structure Line and functional organizational structures are two types of organizational structures used in management practice. The line structure is one that has a clear line of authority that flows from top to bottom. And, the functional organizational structure is one that creates different departments depending upon the nature and type … Read more

What is a Marketer? Definition, Purpose, Skills, and Roles & Responsibilities

A Marketer

Who do you think is a person of a company who passes the information about its products or services to people? Is it a marketer? Let’s find out. What is a Marketer? Or, Who is a Marketer? A marketer is a person who is responsible for passing information about a company’s products to people, influencing … Read more

What is Social Responsibility? Definition, Types, Areas, Examples, and Pros/Cons

Social Responsibility

Do you think companies have to contribute to society, think, and act upon the welfare of society? Or, their goal should be just achieving profit maximization? Let’s find out what the social responsibility of business has to say about this. What is Social Responsibility? Social responsibility means that businesses in the course of achieving organizational … Read more

What is Labelling? Definition, Types, Components, Importance, and Examples

Product Labelling

The product itself is not identifiable about what it is, who made it, what benefits it provides, etc. Labelling has an important role in making the product more recognizable and identifiable. Let’s understand what labelling is, its types, functions, and importance. What is Labelling? A label is any tag or identification mark attached to a … Read more