Convenience Products – Definition Types & Examples
Convenience products refer to those types of consumer products and services that consumers buy more frequently with minimum buying efforts and comparisons.
What is Drop Servicing Business?
Dropshipping business revolutionalizes the e-commerce business, where you facilitate the sale by using your platform. But you don’t have to maintain the inventory cost, factory overheads, and other fixed and variable costs. In the dropshipping business, you display the products’ catalog of suppliers, when customers place orders; you transfer the order to the suppliers and get the product delivered to …
What is a Marketplace? – Definition, Types & Examples
What is a Marketplace? A marketplace is an online store or a platform that facilitates both buyer and seller in many ways. An online marketplace is just like an e-commerce website or mobile app where sellers meet buyers and offer products and services. The website is responsible for all the transactions i.e. payments, transactions and process. Definition. According to the …
What is Interactive Marketing?
Traditionally speaking, marketing is a one-way streak. It starts with the advertisement that marketers create, then they air the ad on different media platforms and expect the result. The problem with traditional marketing is that it doesn’t start a dialogue with the target audience about the advertised product. You just send the message through advertisement and expect them to comply …
Distribution Channels – Definition, Functions & Types
Customers in the target market are located at different locations across the country. The company needs to make the product easily available and accessible to customers everywhere. Therefore, selecting the right distribution channel for the product is the main element for the success of the company’s marketing strategies. When the product is easily available to the customers, then it increases …
What is Concierge Service? Meaning & Examples
Planning, arranging, and organizing is a tiresome and time-consuming activity. You must have come across a situation many times, where you’d have thought that someone else would have done everything for you. You just want to relax and enjoy your holiday. Companies and private individuals specialized in personal assistance services; they would help you as long as it stays within …
Best Emarketing Strategies to Improve Online Presence
Emarketing is the process where you combine both modern technologies with the traditional marketing concept. The purpose of emarketing is to use the internet and technology to approach the customers of your target market to establish brand identity and increase online presence. There are many effective emarketing tools and strategies like; emails, text messages, audio/video, SEO, content marketing, pay per …
Best Ecommerce Platforms for Your Dropshipping Business
Traditionally speaking, the concept of having a store means that you have to maintain a stock of inventory so that you could make the product available to the customer when he orders for it. But in the online world, dropshipping is a bit different; you don’t have to maintain the stock of inventory. You just have to display the list …
New Product Pricing Strategies
What is New Product Pricing Pricing may seem simple and easy. But it’s a very important and challenging part of any business especially when the product is new in the market because you don’t know how the market would react to the product price. Therefore, businesses and companies may test various pricing strategies before setting the final price of a …
What is Ad Hoc Analysis?
We live in a digital world and we contribute approximately 2.5 quintillion bytes of data almost every day, and 90% of the digital insight of the whole world is created in the last 2 to 3 years alone. If you know how to use digital data, then it helps you to increase profitability, business growth, and business efficiency. If you …