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What is da difference between a complementary product and a supplementary product?
In products, they mean the same thing - two products working together. An example of this is a brand of mobile phone sleeves that matches a brand of mobile phones.
A supplementary product is one that allows another to function, like refills for a ballpen. More commonly though, a supplementary product is a term used in economics for a good that does not substitute another good but for which the demand rises when the price of another good increases.
When the price for gym membership rises, the demand for hometrainers increases, as an example.
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The difference between selling and marketing mix is that selling you actually get money for the product while marketing mix is just a way of creating awareness. The two are connected in that a product has to be marketed for it to be sold.
What is the difference between complementary and supplementary goods, and how do they impact consumer behavior and purchasing decisions?
Complementary goods are products that are typically used together, such as peanut butter and jelly, while supplementary goods are products that can be used in place of each other, like butter and margarine. The availability and pricing of complementary goods can influence consumer behavior by affecting the demand for the main product. On the other hand, the availability and pricing of supplementary goods can impact consumer purchasing decisions by offering alternatives that may be more or less expensive.
What is the relationship between a complementary good and the main product it is paired with?
A complementary good is a product that is typically used together with another product. The relationship between a complementary good and the main product it is paired with is that they are often purchased or consumed together because they enhance each other's value or utility. When the price of one product changes, it can impact the demand for the complementary good as well.
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