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

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 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

What is Product Life Cycle (PLC)? Definition, Stages, Strategies, Importance, and Examples

Product life cycle

There was a time where CDs, VCRs, and Typewriters were the most popular. But today in the 21st century they have become outdated. This is one of the best examples of a product life cycle (PLC). So, what is the product life cycle (PLC), what are its stages, and why it is important, let’s find … Read more

What is PESTLE (+G) Analysis? Definition, Components, Importance, Examples, & Pros/Cons

PESTLE Analysis

Suppose you made a product you thought people would like and distributed it to the market. But you did not get the expected sales or expected results. After some time you realize that you have successfully wasted your money, efforts, and time. This is what happens when you launch a new product or expand your … Read more