Online research is cheap and fast which helps researcher to gain insight quickly. However, beside the good points, online research has also many disadvantages, which make researchers hesitate to use it.
Read more ...Inflation is a macroeconomic indicator that is measured by year-on-year (y-o-y) price change for consumer goods and services in an economy. The calculation of inflation is simple but it has a wide range of impacts on the economy. Inflation is important because it affects all aspects of the economy, from the wages people get paid to the value of their homes, from business investments to consumer spending decisions. Since prices are only one part of overall economic activity, inflation is often seen as a secondary concern compared to unemployment and growth in GDP.
Read more ...Product pricing is a rather complex process and requires careful study. To base this on the consideration of factors such as costs, sales and marketing, it is necessary to carry out a series of calculations in order to calculate the price. Generally, it takes into account how much money has been spent in production, personnel and marketing costs, but also the profit margin should consider. Although there are a lot of strategies to position your business and differentiate it from its competitors, product positioning is one of the most important ones. Product positioning is the process of creating a brand's identity by positioning a product or service in relation to other products or services on the market.
Read more ...Understanding the consumer buying decision process means that businesses understand the stages customers go through to be able to come to a final decision whether to buy a product or not. This means that businesses should focus on creating products and services that meet the specific needs of each stage of the buying process, as any one stage can affect how likely a customer will remain/return as a customer. Customer Psychology is the study of how people make decisions, the reasons they buy and why they buy what they do. By understanding the psychology behind your customer, you can help your business develop more effective sales strategies and marketing campaigns, as well as build a deeper understanding of their journey within your business.
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