Marketing is the business function responsible for identifying customer needs and promoting products or services to satisfy those needs profitably. It involves market research, product development, pricing, promotion, and distribution. Effective marketing helps a business attract and retain customers, build brand awareness, and increase sales and market share.
Industrial Market in a Nutshell An industrial market is one where businesses sell goods or services to other businesses rather than to consumers, also called business-to-business or B2B. There are fewer, larger…
Consumer Market in a Nutshell A consumer market is made up of individuals and households buying goods and services for their own personal use. It has a huge number of buyers, small…
C2C Market in a Nutshell A C2C (consumer-to-consumer) market is one where private individuals sell goods or services directly to other private individuals, usually through a digital platform such as eBay, Vinted…
B2C Market in a Nutshell A B2C (business-to-consumer) market is one where businesses sell goods or services directly to individual customers for their own use. There are many buyers, small transaction values,…
B2B Market in a Nutshell A B2B (business-to-business) market is one where firms sell goods or services to other firms rather than to individual consumers. Customers are fewer and larger, orders are…
YED measures how demand changes as income changes, guiding pricing and product decisions. It can help businesses predict demand for luxury and inferior goods during economic change.
Price elasticity is about how much people change what they buy when the price changes. If the price goes up and people stop buying a lot of it, we say it’s elastic. If the price changes but people still buy almost the same amount, it’s inelastic. It helps businesses understand how customers might react before they change prices.
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