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In marketing, a product is anything that can be bought and sold that meets a want or need of a person, business, or organization. This article focuses on a specific kind of product, called consumer products. We will discuss four types of consumer products and how you can tailor your marketing efforts to successfully promote […]

If you want to grow your business, a good place to start is by reviewing your pricing strategies. A few good questions include: How close are you selling to the manufacturer’s suggested retail price (MSRP)? What do your sales displays look like? Do you ever sell your products at a loss? We will explore these […]

Are you looking for ways to improve your company? You can’t do it without understanding your customers and studying different consumer behavior types. Consumer buying behavior is about the actions and decisions that people undertake to purchase products or services. As well-known neuroscientist and author Antonio Damasio has said, “we are not thinking machines that […]

To survive in the overly saturated retail market, every business seeks new methods to gain a competitive advantage. One of these methods is the direct store delivery model. Many small businesses choose to deliver their products directly to the retailer or consumer to save money and time. This article will focus on what is DSD […]

Customer loyalty is the holy grail of marketing for one simple reason – it’s much more cost-effective to boost repeat business than to source new customers (although you need to do both). Research conducted by Bain and Company shows that it’s practically impossible to break even on new customers alone since the cost of acquiring different […]

Coming up with a great business idea is only the first step in becoming a successful brand. Knowing how to convey your product to your target audience is what makes your brand grow and establish itself. Some businesses rely on intermediaries to market and sell their products. Other companies utilize direct-to-consumer (D2C) marketing to control […]

Marketing pioneer and visionary Morris Hite said: “Advertising moves people toward goods; merchandising moves goods toward people.” Cross merchandising is a way through which Hite’s concept can be implemented. So, what is cross merchandising? It’s about bringing together complementary products from different categories to make the shopping experience more convenient. 2019 witnessed a 2.8% dip […]

One of the most difficult parts of sales is actually closing the sale. But once you’ve finally gotten a customer to say yes, why not continue selling to them? This is exactly what point-of-sale advertising does. Point-of-sale (or POS) advertising targets a customer during a purchase to encourage them to buy additional items. What is Point-of-Sale […]

All businesses lose customers. According to Profitwell.com, this average customer retention rate by industry is: Retail: 63% Banking: 75% Telecom: 78% IT services: 81% Insurance: 83% Professional services: 84% Media: 84% While none of these industries can keep all their customers, it is possible to decrease the losses. The first step is figuring out why […]

If you haven’t made a buy now pay later (BNPL) purchase yourself, you’ve probably at least heard the term. Many large retailers offer the popular payment method, alongside traditional payment methods like cash, credit, or debit. Buy now, pay later is also called pay in four, as it allows consumers to pay off their purchases […]