Every day, people use all sorts of consumer products. Some of these are essential for daily life, while others are simply used for convenience or entertainment. It might seem like a small thing but it’s the key to success in marketing a product – understanding what motivates consumers to purchase items.
In this article, we’ll take a look at what consumer products are and some of the different types that are available on the market. Understanding how consumer products work can help you make smarter marketing decisions and improve your chances of success. So if you are interested in learning more about consumer products, read on!
What are Consumer Products
Consumer products are defined as goods or services that are purchased by individuals for personal use. This includes everything from food and clothing to books and cars. In other words, consumer products are items purchased by the average person for personal use.
From the perspective of marketing, it is important to understand what motivates consumers to purchase items. This can be anything from needing the item to fulfill a basic need, to wanting the item for its convenience or because it is fashionable.
Different Types of Consumer Products
There are four main types of consumer products
- Convenience products
- Shopping products
- Specialty products
- Unsought products
Let’s take a closer look at each of these in turn.
- Convenience Products
Convenience products are items that the consumer purchases regularly and with little thought or effort. These are typically low-cost items that are easily accessible and do not require much decision-making on the part of the consumer.
Toothpaste, soap, and batteries are all examples of convenience products. From the perspective of marketing, convenience products present an opportunity to build brand loyalty by making it easy for the consumer to purchase the product.
- Shopping Products
Shopping products are items that the consumer purchases on a less regular basis and usually take more time to decide on. These items are typically more expensive than convenience products and require more effort to find and purchase.
Examples of shopping products include furniture, clothing, and travel. Marketing shopping products typically involves more comparisons and research on the part of the consumer. As such, it is important to make sure that your product is well-positioned and easy to find when the consumer is ready to make a purchase.
- Specialty Products
Specialty products are items that the consumer purchases infrequently and usually require a significant amount of time and effort to find and purchase. These items are typically very expensive and may require expert knowledge to use or maintain.
Examples of specialty products include jewelry, art, cars, and collectibles. Specialty products need to be advertised in a specific way to reach their target consumers. They are usually found in specific places, such as specialty stores.
- Unsought Products
Unsought products are items that the consumer does not know about or does not think to purchase. These items may be necessary but are not typically top-of-mind for most consumers. In simple words, people don’t look for them.
Examples of unsought products include life insurance, funerals, and disaster preparedness supplies. Unsought products need to be marketed in a way that makes the consumer aware of their need for the product. This can be done through advertising, public relations, and personal selling.
Now that you know more about consumer products, you can start to think about how to market them effectively. Keep in mind the different types of consumer products and what motivates consumers to purchase them. Every product is different, so it’s important to find the right marketing mix for your product. With a little effort, you can increase your chances of success in the world of consumer products.
Have an answer to the questions below? Post it here or in the forum