Consumer products are those products and services that bought by final consumers for personal use or consumption. Marketers mainly classify these products and services based on how customers go about buying those products or services. There are four types of consumer products. They are –
- Convenience products
- Shopping products
- Specialty products
- Unsought products
Those products differ in the ways consumer buy them and, therefore, in how they are marketed.
A Convenience product is consumer products and services that consumer purchase frequently; they buy those products for their everyday uses. They have a little planning, little comparison or shopping effort to buy those products. And customer always shows low customer involvement. This product have low price. Customer gets this product everywhere, when they want. That’s means those products distribution convenient locations. And we see the mass promotion by the producer for those products. For example, convenience products such as soft drinks toothpaste, chocolates, candy, cigarettes, laundry detergent, magazines, fast food etc are bought as soon as feels the need for them.
A shopping product is consumer products and services that are less frequently purchases than consumer products and services. They are comparison of brands on price, quality, and style. Consumer spends much time and effort in gathering information and making comparisons, When consumer buying shopping products and services. Because of those products have high price. Shopping products marketers usually distribute their products thought fewer outlets that are known for the quality of their merchandize and provide deeper sales support to help customers in their comparison efforts. These products promotion go on by advertising and personal selling by both producer and resellers. For example, jewelry, furniture, clothing, used car, hotel, airline services etc.
A specialty product is consumer products and services that consumer purchase to see strong brand performance and loyalty, special purchase effort, little comparison of brand. They are more expensive than convenience products and not purchased frequently. These products promotion go on by widespread distribution in many outlets per market area. M0re carefully targeted promotion by both producer and resellers. However, consumer spends a lot of time in planning the purchase-deciding on the brand and arranging for the money to buy the product. For example, specific brands of cars, fine crystal, TV, refrigerators, luxury goods, high priced photographic equipment etc.
An unsought product is consumer products and services that consumer either does not know about or knows about but does not normally think of buying. Customer buying behavior is little product awareness, knowledge (or, if aware, little or even negative interest). Those products price varies and distribution also varies. Unsought products require a lot of advertising or aggressive advertising, personal selling, and other marketing efforts. For example, life insurance, donations for charity, preplanned funeral services, blood donations to hospitals or Red Cross blood donations etc.