Table of Contents
2 types of products
products are divided into 2 types according to the purpose of building them. which are mentioned here:
1- Consumer Products
Consumer products, also called as final goods, are goods that are bought by individuals or households for personal uses. In other words, consumer products are goods that are bought for consumption by the average consumer and Consumer products are designed for the ultimate consumer/end user.
marketing perspective devide it to four types of consumer products. These consumer goods are explained below:
4 types of consumer products
Costumer products are devided in 4 types according to Customer buying behavior, Price, Distribution, Promotion and frequency of shoping which are explained more below:
Convenience products
Convenince costumer products are products that consumers don’t want to use any special physical effort for buying that.
Consumers know what exactly they need and don’t think about the details and characteristics deeply.
Users buy the Convenience products most frequently. On the other hand Convenience products are bought immediately. They are not usually compared with each other.
As a matter of price, convenience products are inexpensive.
Also from variation perspective, they are not differentiated among other goods.
So they must be available so consumers can easily reach them and purchase.
Plus the location of them in shelves of markets, they should be widely distributed. It means they require mass promotion.
Cheese, milk, razor, pencils, soap, all examples of convenience products.
Convenince products are again divided in 4 subcategories too:
Convenience products
The term staple goods are consumed by the people regularly. These goods are sold by various businesses and competition might be high in this category. Because of an everyday usage, they are bought in large amount so the production quantity is high.
Brand loyalty in these products are not for special values mostly, but it comes from users’ laziness and willing to simplify the buying process by automatically selecting one brand and minimizing purchasing time and thinking effort.
1- Impulse goods
Impulse goods are products that users buy without conscious and on impulse. In another word it means that users without planning buy them. so it could be understood that they are the result of a sudden strong desire to a product.
Shops and supermarkets commonly place these goods near the checkout counters, for example products such as chocolates, magazines, chewing gum and candies and so on.
2- Emergency goods
Emergency goods are are bought in case of an emergency or an urgent requirement. These are for which they had not planned before. These products are easily found at shops. Emergency goods differ from impulse goods because they may be just planned for on short notice, but more critically, for example flashlights, candles, and umbrellas.
3- Staple goods
staple products are goods that consumers buy on a very regular basis. So they have plans for the purchase. So they are used in higher quantities and as a result they are produced in higher mass.
On the other hand users tend to have a brand loyalty. Brand loyalty for these products just comes from the willingness to simplify the buying process and laziness to avoid thinking for choosing. By the having brand loyalty users automatically just select one and minimizes purchasing time and effort.
Shopping Products
Shopping goods are those consumer products which the customer in the process of selection and purchase characteristically compares some criteria. These criteria which user compares could be suitability, quality, price, and style of the product which are characteristics of our product. Shopping products are infrequently purchased products that customers plan and compare carefully on brands, price, quality, and style.
Consumers mostly dedicate much time and effort in data gathering and making comparisons for shopping, for example, refrigerator, air conditioner, TV, washing machine, and Laptop are counted as shopping products.
shopping products in marketing executives are categorized in two types:
1- Homogeneous Shopping Goods
Homogeneous products are goods or services that have identical quality and features as part of their characteristics. Homogeneous products are indistinguishable from other products by users.
2- Heterogeneous Shopping
Heterogeneous goods are shopping goods in which consumers perceive some discernible differences in some product characteristics. These characteristics could be suitability, quality, price, or styling.
Specialty Products
Specialty products are the goods which are characterized by strong branding which causes loyalty. These products take special purchase effort, such as special clothes, equipments and….
Unsought Products
Unsought products are the goods which the consumers are not aware of their existence. If they know about these products, they may not think of buying because they are not brandable. Users have not touched it before so they feel unfamiliar with them. Consumers do not consciously look for unsought goods.
As examples we could say some of insurance agencies or….
2- Industrial Products
Industrial goods are those which purchased by organizations used as input/ raw material for the production of their products or in their operations.
Industrial products can be classified in the following categories:
- Capital goods
- Raw materials
- Component parts
- Major equipment
- Accessory
- equipment
- Operating supplies
- Services
We are going to briefly explain each of these 8 categories:
Capital goods
Capital goods are industrial products which are directly used in the production of organisations such as installations and accessory equipment. Buildings, Lands, plants, tools and machinery could be examples.
Raw Materials
Raw material as its name says, is an industrial goods that is used in production of products as ingredients or material such as water, agricultural products and….
Component Parts
Components parts products are the goods that have gone through the processing phase and the finished product of the previous industry. They may seem ordinary, but they’re the assembling parts of the final product of the organisations.
Major Equipment
Major products are industrial products which used to make, process, or sell other goods in organisations. These include tools, machinery, computers, automobiles, tractors, engines, systems and…
Accessory Equipment
Accessory equipment products include industrial products which are used to facilitate the production process or middleman sales. These products do not become part of the finished product. These help in the overall production or selling effort of products in organisations and as example we could name online SAASes that helps businesses to improve their SEO, track users behaviour and…
Operating Supplies
operating supplies products include office tools, stationery, maintenance and… operating Supply products can be called as convenience products of the industrial market.
Services
Services as its name clarifies, includes all services that is provided to other organisation from cleaniing, consultancy, coaching, and….
