Economic Offering
(Redirected from Economic Good or Service)
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An Economic Offering is a value proposition that provides benefits to customers in exchange for economic value within a market system.
- AKA: Market Offering, Commercial Offering, Economic Good or Service.
- Context:
- It can typically satisfy Customer Needs through value delivery.
- It can typically provide Economic Utility through resource transformation.
- It can typically command Market Price based on perceived value.
- It can typically require Economic Resources for creation and delivery.
- It can typically generate Revenue for its economic offering provider.
- It can typically involve Transaction Costs during exchange process.
- It can typically compete with Alternative Economic Offerings in market space.
- It can typically be subject to Economic Regulations from governing entity.
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- It can often respond to Market Signals through price adjustment.
- It can often undergo Value Innovation through economic offering development.
- It can often be positioned through Market Segmentation for target customer identification.
- It can often be promoted through Marketing Communication for awareness creation.
- It can often be evaluated through Economic Metrics for performance assessment.
- It can often create Network Effects through user base expansion.
- It can often be protected by Intellectual Property Rights for competitive advantage.
- It can often follow Product Lifecycle Stages through market evolution.
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- It can range from being a Tangible Economic Offering to being an Intangible Economic Offering, depending on its physical manifestation.
- It can range from being a Mass-Market Economic Offering to being a Niche Economic Offering, depending on its target market breadth.
- It can range from being a Low-Value Economic Offering to being a High-Value Economic Offering, depending on its price point.
- It can range from being a Standardized Economic Offering to being a Customized Economic Offering, depending on its personalization level.
- It can range from being a Primary Economic Offering to being a Complementary Economic Offering, depending on its value chain position.
- It can range from being a Traditional Economic Offering to being a Digital Economic Offering, depending on its technology integration.
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- It can be distributed through Market Channels for customer access.
- It can be exchanged through Market Transactions for mutual benefit.
- It can be subject to Supply and Demand Dynamics for price determination.
- It can be governed by Market Rules for fair exchange.
- It can be evaluated by Customers based on value assessment.
- It can be enhanced through Value-Added Services for differentiation.
- It can be assessed through Quality Standards for consistency.
- It can be managed through Economic Offering Lifecycle for optimization.
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- Examples:
- Business Products, such as:
- Physical Business Products, such as:
- Digital Business Products, such as:
- Hybrid Business Products, such as:
- Service Economic Offerings, such as:
- Professional Service Economic Offerings, such as:
- Consumer Service Economic Offerings, such as:
- Experience Economic Offerings, such as:
- Subscription Economic Offerings, such as:
- Platform Economic Offerings, such as:
- ...
- Business Products, such as:
- Counter-Examples:
- Free Public Goods, which lack economic exchange requirement.
- Internal Organizational Resources, which lack market availability.
- Gift Exchanges, which lack commercial motivation.
- Illegal Products, which lack legitimate market recognition.
- Natural Resources in their unprocessed state, which lack intentional creation.
- Externalitys, which lack direct market pricing.
- See: Market, Economy, Value Creation, Business Model, Exchange System, Price Theory, Supply Chain, Product, Service, Consumer, Producer, Utility Theory, Economic Value, Commerce.