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Unsought Goods
Unsought goods are goods that the consumer does not know about or does not normally think of buying, and the purchase of which arises due to danger or the fear of danger and lack of desire. The classic examples of known but unsought goods are funeral services, encyclopedias, fire extinguishers and blood donations. In some cases even an airplane/helicopters can be cited as examples of unsought goods. The purchase of these goods may not be immediate and can be deferred. Hence, unsought goods require advertising and personal-selling support. Marketers have classified products on the basis of durability, tangibility and use (consumer or industrial). Based on the consumer products classification arise Unsought Goods. Converting Unsought Goods to Sought Goods New products such as frozen food items were unsought till they are advertised using media vehicles or by word of mouth marketing. Once the consumer is well educated about the product, the good goes on to become a sought good. For ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Good (economics)
In economics, goods are anything that is good, usually in the sense that it provides well-being, welfare or utility to someone.Alan V. Deardorff, 2006. ''Terms Of Trade: Glossary of International Economics'', World Scientific. Online version: Deardorffs' Glossary of International Economics"good" an Goods can be contrasted with bads, i.e. things that provide negative value for users, like chore division, chores or waste. A bad lowers a consumer's overall welfare. Economics focuses on the study of economic goods, i.e. goods that are scarce; in other words, producing the good requires expending effort or resources. Economic goods contrast with free goods such as air, for which there is an unlimited supply.Samuelson, P. Anthony., Samuelson, W. (1980). Economics. 11th ed. / New York: McGraw-Hill. Goods are the result of the Secondary sector of the economy which involves the transformation of raw materials or intermediate goods into goods. Utility and characteristics of goods The c ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Consumer
A consumer is a person or a group who intends to order, or use purchased goods, products, or services primarily for personal, social, family, household and similar needs, who is not directly related to entrepreneurial or business activities. The term most commonly refers to a person who purchases goods and services for personal use. Rights "Consumers, by definition, include us all", said President John F. Kennedy, offering his definition to the United States Congress on March 15, 1962. This speech became the basis for the creation of World Consumer Rights Day, now celebrated on March 15. In his speech, John Fitzgerald Kennedy outlined the integral responsibility to consumers from their respective governments to help exercise consumers' rights, including: *The right to safety: To be protected against the marketing of goods that are hazardous to health or life. *The right to be informed: To be protected against fraudulent, deceitful, or grossly misleading information, adverti ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Funeral Service
A funeral is a ceremony connected with the final disposition of a corpse, such as a burial or cremation, with the attendant observances. Funerary customs comprise the complex of beliefs and practices used by a culture to remember and respect the dead, from interment, to various monuments, prayers, and rituals undertaken in their honour. Customs vary between cultures and religious groups. Funerals have both normative and legal components. Common secular motivations for funerals include mourning the deceased, celebrating their life, and offering support and sympathy to the bereaved; additionally, funerals may have religious aspects that are intended to help the soul of the deceased reach the afterlife, resurrection or reincarnation. The funeral usually includes a ritual through which the corpse receives a final disposition. Depending on culture and religion, these can involve either the destruction of the body (for example, by cremation, sky burial, decomposition, disintegrati ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Encyclopedia
An encyclopedia is a reference work or compendium providing summaries of knowledge, either general or special, in a particular field or discipline. Encyclopedias are divided into article (publishing), articles or entries that are arranged Alphabetical order, alphabetically by article name or by thematic categories, or else are hyperlinked and searchable. Encyclopedia entries are longer and more detailed than those in most dictionary, dictionaries. Generally speaking, encyclopedia articles focus on ''factual information'' concerning the subject named in the article's title; this is unlike dictionary entries, which focus on Linguistics, linguistic information about words, such as their etymology, meaning, pronunciation, use, and grammar, grammatical forms.Béjoint, Henri (2000)''Modern Lexicography'', pp. 30–31. Oxford University Press. Encyclopedias have existed for around 2,000 years and have evolved considerably during that time as regards language (written in a major inte ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Fire Extinguisher
A fire extinguisher is a handheld active fire protection device usually filled with a dry or wet chemical used to extinguish or control small fires, often in emergencies. It is not intended for use on an out-of-control fire, such as one which has reached the ceiling, endangers the user (i.e., no escape route, smoke, explosion hazard, etc.), or otherwise requires the equipment, personnel, resources or expertise of a fire brigade. Typically, a fire extinguisher consists of a hand-held cylindrical pressure vessel containing an #Types of extinguishing agents, agent that can be discharged to extinguish a fire. Fire extinguishers manufactured with non-cylindrical pressure vessels also exist, but are less common. There are two main types of fire extinguishers: stored-pressure and cartridge-operated. In stored-pressure units, the expellant is stored in the same chamber as the firefighting agent itself. Depending on the agent used, different propellants are used. With dry chemical extingu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Blood Donation
A 'blood donation'' occurs when a person voluntarily has blood drawn and used for transfusions and/or made into biopharmaceutical medications by a process called fractionation (separation of whole blood components). A donation may be of whole blood, or of specific components directly ( apheresis). Blood banks often participate in the collection process as well as the procedures that follow it. In the developed world, most blood donors are unpaid volunteers who donate blood for a community supply. In some countries, established supplies are limited and donors usually give blood when family or friends need a transfusion (directed donation). Many donors donate for several reasons, such as a form of charity, general awareness regarding the demand for blood, increased confidence in oneself, helping a personal friend or relative, and social pressure. Despite the many reasons that people donate, not enough potential donors actively donate. However, this is reversed during dis ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Word-of-mouth Marketing
Word-of-mouth marketing (WOMM, WOM marketing, also called word-of-mouth advertising) is the communication between consumers about a product, service, or company in which the sources are considered independent of direct commercial influence that has been actively influenced or encouraged as a marketing effort (e.g. 'seeding' a message in a network rewarding regular consumers to engage in WOM, employing WOM 'agents'). While it is difficult to truly control word of mouth communication, there are three generic avenues to 'manage' word of mouth communication for the purpose of word-of-mouth marketing, including: * Building a strong WOM foundation (building brand loyalty, trust and satisfaction) * Indirect WOM management ( advertisement and other promotional strategies) * Direct WOMM management ( viral marketing and electronic communication) The success of word-of-mouth marketing depends heavily on the nature of the loyalty rewards used. When companies utilize poor incentives to mot ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
IPhone
The iPhone is a line of smartphones developed and marketed by Apple that run iOS, the company's own mobile operating system. The first-generation iPhone was announced by then–Apple CEO and co-founder Steve Jobs on January 9, 2007, at Macworld 2007, and launched later that year. Since then, Apple has annually released new iPhone models and iOS versions; the most recent models being the iPhone 16 and 16 Plus, alongside the higher-end iPhone 16 Pro and 16 Pro Max, and the lower-end iPhone 16e (which replaces the iPhone SE). As of January 1, 2024, more than 2.3 billion iPhones have been sold, making Apple the largest vendor of mobile phones in 2023. The original iPhone was the first mobile phone to use multi-touch technology. Throughout its history, the iPhone has gained larger, higher-resolution displays, video-recording functionality, waterproofing, and many accessibility features. Up to the iPhone 8 and 8 Plus, iPhones had a single button on the front pane ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
