How To Improve Your Product Product improvement is a data-driven process that should not be taken lightly. With the digital revolution well underway and companies seeming to come up with new product modifications on a regular basis, you need to keep on top of features and design preferences if you want to stay competitive. That being said, there’s such a thing as overdoing it or missing the point. A good…
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What Is Consumer Confidence? Consumer confidence is an economic indicator, one that measures the overall state of the economy based on how consumers feel about it and their own personal financial situation. It’s measured via either monthly or quarterly surveys targeted at households rather than individuals, with the Consumer Confidence Index (CCI) and the Michigan Consumer Sentiment Index (MCSI) being the main two indexes used in the US. Both of…
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What Is Consumer Sentiment? In this article, we’ll explore the topic of consumer sentiment, the role it plays in today’s economy, the difference between consumer and customer sentiment, and how you can use it to your advantage. Consumer sentiment is a measure of the overall consumer opinion on their financial health. Consumer sentiment is important because it’s a means of measuring how well the economy is doing on a short-term…
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Amazon Seller Reputation: Why It Matters Increasing your seller reputation is never a bad thing. It lets you increase your sales, boosts your reach and lets you track how you’re doing in terms of marketing. Amazon’s star format is one of the simpler ones for customers and those who view you to understand, but it’s slightly more complex when it comes to figuring out how to increase it. The first…
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Brand equity is a great weapon to have in the never-ending battle that is today’s competitive markets. The main benefit of having a strong brand equity is that consumers will buy your products no matter the cost to them, as they perceive them as having innate value or quality based simply on the fact that they came from you. Being the top brand whenever consumers think of your market sector…
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When it comes to improving your products and developing the strategy by which you intend to market them, nothing is more important than knowing what works and what doesn’t. In business, very few stakeholders will want to take a step forward unless there is a decent chance of return on investment. Unfortunately, we live in a world where changing expectations and shifting culture means that it isn’t always clear cut…
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When your customers are not satisfied with the services you provide, they tend to look elsewhere for their next set of purchases. In the age of eCommerce, where alternative providers are easy to find, over 80% of customers are ready to switch companies after merely a single bad experience. This is very bad news if you want to stay in business, since it’s generally much much easier and cheaper to…
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What Are Sleep Headphones? Sleep headphones are headphones designed to be used while sleeping and while you’re trying to fall asleep. Living in busy urban areas which have noise late into the night causes difficulty sleeping, leading to insomnia, depression and other major health issues. How do sleep headphones work? Well, they supposedly block out external noise to give you peace, while having the option to play something to listen…
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Product category analysis is a catch-all term, referring to any analysis of product categories that you carry out in order to understand what drives purchases. Starting with an overview of product categories, you parse through the data in order to glean more insight using techniques such as product development analysis and operations analysis, alongside competitor analysis and customer experience analysis. Product category analysis isn’t a simple thing that just…
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Knowing how to build a SWOT Analysis for a product is a necessary skill for product managers and marketers. In this article, we’ll dive into what a SWOT Analysis is, how you can use it to your advantage as you improve and market your product, and how artificial intelligence (AI) can generate an automated analysis. What is a SWOT Analysis? A SWOT Analysis gives you a “full picture” of your…
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Customer feedback typically comes in the form of a review, or any other type of comment offered by customers on the level of satisfaction they experienced related to a specific product or service. It can be crucial for a business to understand how to improve or adjust the products or services they offer, and to measure the overall customer satisfaction and customer experience. Reviews and opinions offered by customers are…
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