What is product divisibility?
Divisibility is the degree to which an innovation of new product may be tried (tested) on a limited basis. For example, the introduction of a new feed on an entire dairy herd for one week.
Is communicability a word?
Communicability: Period of communicability is the time during which an infectious agent may be transferred directly or indirectly from an infected person to another person, from an infected animal to humans, or from an infected person to animals. Also known as the ‘infectious period’.
What does the term marketing meaning?
Marketing refers to all activities a company does to promote and sell products or services to consumers. At its core, marketing seeks to take a product or service, identify its ideal customers, and draw the customers’ attention to the product or service available.
What does communicability affect the rate of adoption of a new product or brand?
Communicability. Even if all other product characteristics that influence the adoption rate are favourable, communicability can still slow down adoption significantly. Communicability is the degree to which the results of using an innovation can be observed or described to others.
What is product complexity?
Product complexity can be e.g. the number of products, the number of components they consist of or raw materials used. Structure complexity can be the number of factories, markets, warehouses or suppliers. If poorly managed, complexity leads to increased costs and decreased customer value proposition.
What does communicability mean?
: capable of being transmitted from person to person, animal to animal, animal to human, or human to animal : transmissible. Other Words from communicable. communicability \ -ˌmyü-ni-kə-ˈbil-ət-ē \ noun, plural communicabilities.
What does it mean to be transferable?
If something can be transferred from one person to another, it’s transferable. In the legal or financial sense, transferable refers to something the value of which can be passed from one person to another.
What are 3 Definitions of marketing?
Marketing is the practice of increasing awareness, consideration, purchase/repurchase and preference for a product or service through consumer-driven benefits, advertising, packaging, placement, pricing and promotions.
What are the 4 types of marketing?
The 4 Ps of marketing are place, price, product, and promotion. By carefully integrating all of these marketing strategies into a marketing mix, companies can ensure they have a visible, in-demand product or service that is competitively priced and promoted to their customers.
What are 5 characteristics of innovation that determine the rate of acceptance or resistance of the market to the product?
The characteristics of an innovation, as perceived by the consumer, determine the amount of resistance generated. Rogers (1962) has enumerated five important characteristics of an innovation: Relative Advantage, Compatibility, Perceived Risk, Trialability, and Communicability.
What does complexity mean in marketing?
According to Jost Hoppermann, analyst with technology and market research company Forrester Research, business complexity is the condition of having several interdependent and interconnected stakeholders, information technology systems and organizational structures.
What is product complexity index?
The Product Complexity Index (PCI) ranks the diversity and sophistication of the productive know-how required to produce a product. Products with a high PCI value (the most complex products that only a few countries can produce) include electronics and chemicals.
What is the meaning of communicable?
Transmittable between persons or species; contagious: communicable diseases. 2. Readily communicated: communicable ideas. 3. Talkative. com·mu′ni·ca·bil′i·ty, com·mu′ni·ca·ble·ness n. American Heritage® Dictionary of the English Language, Fifth Edition. Copyright © 2016 by Houghton Mifflin Harcourt Publishing Company.
What is marketing communication and why is it important?
Definition: The Marketing Communication refers to the means adopted by the companies to convey messages about the products and the brands they sell, either directly or indirectly to the customers with the intention to persuade them to purchase.
What is communicability in innovation?
Communicability is the extent to which aspects of the innovation can be easily communicated or exposed to potential adopters. This question concerns the communicability of aesthetic judgments grounded in a feeling of pleasure.
What is marketing communication mix?
It is considered as one of the most reliable modes of communication because it is done directly either orally, i.e., face to face or in writing via emails or text messages. Thus, marketing Communication mix refers to the different tools that a firm can adopt to inform, persuade, and remind the customer about the product and services it sells.