Tag Archives: products

Why marketers need to pay more attention in their economics classes

One of the most critical components to pricing is what economists refer to as price elasticity. Given the bottom-line impact pricing can have on overall profitability, it’s a critical concept for all marketers to understand.

Credit Cards and Soap: Differences and Similarities

Credit cards and soap are both classified as commodities, but from a marketing perspective the similarities don’t extend much beyond that.

Soap is largely about the very expensive game of buying recognition and differentiation through brand advertising, product positioning and distribution. So in that space, the TUP Model applies: Volume can be influenced by the trial rate, user rate and package rate (Volume = Trial rate x User rate x Package rate).