CLASSIFICATION OF GOODS
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I. Classification By Durability
II. Classification By Tangibility
III. Classification by Shopping Effort and User or by Association
Classification of Products- Consumer and Industrial
Consumer goods
Convenience goods and services – candy, ATM services
Shopping goods and services – clothing, car repair
Specialty goods and services – houses, interior design
Industrial goods
Expense items – inventory, repair bills
Capital items – computer servers, long-term maintenance contracts
CONSUMER GOODS
These are the goods which are purchased without further commercial processing by the consumers for household use and not for re-sale. Some products can be both consumer as well as industrial goods depending upon the use that they are put to. Eg. Wheat flour can be purchased for household consumption and also by a restaurant for preparing its food items (industry making final goods). Buyers of consumer goods go more by external attributes and are impulsive than rational unlike in the case of industrial goods.
Features of Consumer Goods
1. Consumer goods are purchased for household or final consumption and not for resale.
2. Buyers of consumer goods go more by external attributes and are impulsive rather than rational.
3. These products are used without further commercial processing.
Eg. Shampoo, bread, television, pen, jewellery, car
CLASSIFICATION OF CONSUMER GOODS
Product classifications help marketers focus their efforts using consumers’ buying behavior. Your business can use these buying habits to design your marketing efforts for a clearly defined target audience.
Consumer products are often classified as convenience goods, shopping goods, specialty products or unsought goods.
Although these
I. Classification By Durability
II. Classification By Tangibility
III. Classification by Shopping Effort and User or by Association
Classification of Products- Consumer and Industrial
Consumer goods
Convenience goods and services – candy, ATM services
Shopping goods and services – clothing, car repair
Specialty goods and services – houses, interior design
Industrial goods
Expense items – inventory, repair bills
Capital items – computer servers, long-term maintenance contracts
CONSUMER GOODS
These are the goods which are purchased without further commercial processing by the consumers for household use and not for re-sale. Some products can be both consumer as well as industrial goods depending upon the use that they are put to. Eg. Wheat flour can be purchased for household consumption and also by a restaurant for preparing its food items (industry making final goods). Buyers of consumer goods go more by external attributes and are impulsive than rational unlike in the case of industrial goods.
Features of Consumer Goods
1. Consumer goods are purchased for household or final consumption and not for resale.
2. Buyers of consumer goods go more by external attributes and are impulsive rather than rational.
3. These products are used without further commercial processing.
Eg. Shampoo, bread, television, pen, jewellery, car
CLASSIFICATION OF CONSUMER GOODS
Product classifications help marketers focus their efforts using consumers’ buying behavior. Your business can use these buying habits to design your marketing efforts for a clearly defined target audience.
Consumer products are often classified as convenience goods, shopping goods, specialty products or unsought goods.
Although these