Different Types of Consumer Products — Categories of Product written by Maximilian Claessens 20th March What are the different types of consumer products, and how can the categories of product be distinguished?
We will now focus on one special category of products: Consumer products are those types of products you have to do with most often: What are the different types of consumer products, and what specific marketing considerations apply to each of the 4 types of consumer products? A consumer product is a product bought by final consumers for personal consumption.
But not every consumer product is the same. There are four different types of consumer products. Convenience products Speciality products Unsought products.
Convenience products Among the four types of consumer products, the convenience product is bought most frequently. A convenience product is a consumer product or service that customers normally buy frequently, immediately and without great comparison or buying effort.
Examples include articles such as laundry detergents, fast food, sugar and magazines. As you can see, convenience products are those types of consumer products that are usually low-priced and placed in many locations to make them readily available when consumers need or want them.
Shopping products are a consumer product that the customer usually compares on attributes such as quality, price and style in the process of selecting and purchasing.
Thus, a difference between the two types of consumer products presented so far is that the shopping product is usually less frequently purchased and more carefully compared.
Therefore, consumers spend much more time and effort in gathering information and comparing alternatives. Types of consumer products that fall within the category of shopping products are: As a matter of fact marketers usually distribute these types of consumer products through fewer outlets, but provide deeper sales support in order to help customers in the comparison effort.
Speciality products Number three of the types of consumer products is the speciality product. Speciality products are consumer products and services with unique characteristics or brand identification for which a significant group of consumers is willing to make a special purchase effort.
As you can see, the types of consumer products involve different levels of effort in the purchasing process: Examples include specific cars, professional and high-prices photographic equipment, designer clothes etc.
A perfect example for these types of consumer products is a Lamborghini. In order to buy one, a certain group of buyers would make a special effort, for instance by travelling great distances to buy one.
However, speciality products are usually less compared against each other. Rather, the effort must be understood in terms of other factors: Buyers invest for example the time needed to reach dealers that carry the wanted products.
To illustrate this, look at the Lamborghini example: Unsought products are those consumer products that a consumer either does not know about or knows about but does not consider buying under normal conditions. Thus, these types of consumer products consumers do not think about normally, at least not until they need them.
Most new innovations are unsought until consumers become aware of them.
Other examples of these types of consumer products are life insurance, pre-planned funeral services etc. As a consequence of their nature, unsought products require much more advertising, selling and marketing efforts than other types of consumer products.A Comparison Between Five Models Of Software Engineering Cycle, Comparison between five models of Software Engineering.
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