The world keeps evolving each day, new methods and inventions are being rolled and gradually the conventional way of doing things is being rejected. A business-oriented person should be aware of the fact that eventually, the demands of the public will change and he or she has to rise up to the challenge it risk…
Many firms, unwittingly or not, use psychological pricing techniques when determining the price of their product or service. The method of organizing and presenting prices to appeal to consumers’ emotions and influence their decision-making processes is known as psychological pricing (Pride and Ferrell, 1997). Psychology of Pricing Pricing is more than simply a game of…
Symbiotic Relationships Symbiosis Symbiosis: 1. close coexistence and interaction of two different organisms, usually to the advantage of both. 2. mutually advantageous association. Symbiotic Relationships in Living Organisms Also, there may be more specific relationships between particular members of the ecosystem. And these relationships differ according to the benefits derived from such a relationship. These…
Market can be created! The driving force behind the creation of any product, goods and service is market availability. Ugwuala B.N. Many a time when a new idea is conceived people will always give reasons why it will fail, and one of it is there is no market to contain it, or how do you…
The price point is a particular price value on a scale of possible prices. There are different prices any commodity can assume in the market. The price assumed by the particular commodity determines whether the price will be termed as expensive or cheap or mid-range. The price point of a particular good is one of…
Perception demand refers to creating products based on what you think your consumer would need not by what they say they need. It is possible to create a product that your consumer does not know he needs, That sweet spot is a holy grail in the context of product-market fit that will make you sell…
How to study consumer behaviour is an indepth look into the ways in which data can be gathered in order to study customer behaviour. Primary Research Methods Essential methods in carrying out customer survey SurveysSurveys are a viable way of doing research and gathering data about new products. One major advantage of surveys is that…
Adapting To Changing Consumer Behaviors is a required skill to thrive in the 21st-century consumer market. The market is increasingly becoming saturated with product designers outthinking each other and pushing the limits and taste of consumers further out every second. Despite all these dynamics, there are several companies and by inference products that are gaining…
Oftentimes, after recognizing the need to start a business, one might be in a dilemma as to which kind of business to start and go on asking questions. Questions such as Which businesses need to give me the most profit? Which business would be the easiest for me to execute? Which business will ensure that…
A scalable business is at the core of entrepreneurship. Scale your Business! Business Hub one, 2020 The fundamentals of entrepreneurship does not permit you to be stuck as an employee in your own business, running helter skelter to attend to customers, manage inventory attend to feedbacks and make profits. It is a call to do…