durability
(noun)
Permanence by virtue of the power to resist stress or force.
Examples of durability in the following topics:
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Customer Expectations
- Retail products are usually classified into three broad categories: food products, hard or durable goods, and soft goods or consumables.
- Durable goods are those that yield services or utility over time rather than being used up when used once.
- Cars and washing machines are examples of durable goods.
- A department store, for example, will sell both durable and consumable goods.
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Consumer Products
- Consumer products will generally be less expensive than professional-grade goods, but will lack the durability of the latter product class, and will reach obsolescence quicker.
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Production Orientation
- However, until the 1950s, organizations relied on the assumption that their businesses would be profitable so long as they produced high quality products that were durable and worked well.
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Defining a Brand
- Attributes: The Mercedes-Benz brand, for example, suggests expensive, well-built, well-engineered, durable, high-prestige automobiles.
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Unsought Products
- Marketers have classified products on the basis of durability, tangibility, and use (consumer or industrial).
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Marketing Orientation
- Since high quality products were scarce during this period, brands could make products on a massive scale that were functional and durable, but ignore marketing elements such as add-on features and design.
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Product, Placement, Promotion, and Price
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Elasticity of Demand
- This does not hold for consumer durables such as the cars themselves, however; eventually, it may become necessary for consumers to replace their present cars, so one would expect demand to be less elastic.
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Product Quality
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Consumer Income, Purchasing Power, and Confidence
- For example, if manufacturers anticipate that consumers will reduce retail purchases, especially for expensive and durable goods, they will cut down their inventories in advance and may delay investing in new projects and facilities.