Potential customers are those who have not made a purchase yet but who could be interested in your goods or services. For example, if you…
Marketing Implementation Plan with Examples and Template
Successful marketing implementation requires more than just having a plan. It involves strategically setting goals, allocating resources, targeting the right audience, scheduling activities, and monitoring…
Competitive Market: Definition, Types, Characteristics and Examples
A competitive market is one in which there are many buyers and sellers, each offering a product that is similar to the offerings of other…
What is Business Orientation? 5 Types and Examples
Having a business orientation is crucial for the success of any company. It involves creating and executing strategies, processes, and behaviors that will help the…
How to Write SMART Goals? (Detailed Examples)
What are SMART goals? SMART goals are those goals that are specific, measurable, achievable, relevant, and time-bound. SMART goals are popular because they help you…
What is Potential Product? Definition and Advantages
The potential product refers to a product the marketing and product development teams can develop further by considering all possible augmentations and enhancements that the…
What is Actual Product? Definition, Examples and Importance
What is Actual Product? An actual product is a tangible product that a consumer purchases in order to obtain the core benefits that the product…
SWOT Analysis of Spotify (Updated 2023)
Spotify is a company based in Sweden that offers audio streaming and other media services. It was created on April 23, 2006, by Daniel Ek…
What is Owned Media? Definition, Channels, Process and Examples
Owned media is the collection of media assets that a company or organization owns and controls. Examples of such assets are websites, blogs, social media…
Shared Media: Definition, Types, and Importance
What Is Shared Media? Shared media is the practice of companies creating and distributing content on social media to their customers and followers, with the…
What is a Consignor? Responsibility and Benefits
A consignor is an individual or company who sends goods to another person or company, usually for sale. Consignors are typically used in the retail…
Difference between Marketing and PR
Marketing and PR are often confused or used interchangeably, but they have distinct differences. Marketing is the process of promoting a product, service, or business…
Informational Power: Definition, Sources and Importance
Informational power is a concept that is quickly becoming more relevant in today’s world. It refers to the ability of an individual or organization to…
Reward Power in Leadership: Definition and Examples
Reward Power is the ability of a leader to give rewards to followers for meeting organizational expectations. Rewards can include financial compensation, recognition, promotions, or…
Expert Power: Definition, Examples and Development
Expert power is the personal power derived from possessing specialized skills or expert knowledge. For example, if someone has a great understanding of finance or…
