Product Classifications Productsandservicesfall into two broad classesbased on the types of consumers that use them -consumer products and industrialproductsBroadlydefined,productsalsoincludeothermarketable entities such as experiences,organizations,persona,places,andideasConsumerproductsConsumerproductsare products and servicesbought byfinalconsumersforpersonalconsumption.Marketers usually classifytheseproductsand services further based on howconsumers go about buying them. Consumerproducts include convenience products,shoppingproducts,specialty products,and unsoughtproducts
◼ Product Classifications ◼ Products and services fall into two broad classes based on the types of consumers that use them - consumer products and industrial products. Broadly defined, products also include other marketable entities such as experiences, organizations, persona, places, and ideas. ◼ Consumer products ◼ Consumer products are products and services bought by final consumers for personal consumption. Marketers usually classify these products and services further based on how consumers go about buying them. Consumer products include convenience products, shopping products, specialty products, and unsought products
Product ClassificationsConsumerProductsConvenience ProductsShopping Products>Buyfrequently &immediatelyBuyless frequently>Low pricedHigher price>Mass advertising>Fewerpurchase locations>Many purchase locations》Comparison shopi.e Candy,newspapersi.e Clothing,cars,appliancesSpecialty ProductsUnsought ProductsSpecialpurchaseefforts>Newinnovations》High price>Products consumers don't>Unique characteristicswantto thinkabout these productsBrandidentification>Require much advertising &personal selling>Few purchase locationsi.e Life insurance,blood donationi.e Lamborghini,Rolex
7 Unsought Products ➢ New innovations ➢ Products consumers don’t want to think about these products ➢ Require much advertising & personal selling i.e Life insurance, blood donation Product Classifications Consumer Products Specialty Products ➢ Special purchase efforts ➢ High price ➢ Unique characteristics ➢ Brand identification ➢ Few purchase locations i.e Lamborghini, Rolex Shopping Products ➢ Buy less frequently ➢ Higher price ➢ Fewer purchase locations ➢ Comparison shop i.e Clothing, cars, appliances Convenience Products ➢ Buy frequently & immediately ➢ Low priced ➢ Mass advertising ➢ Many purchase locations i.e Candy, newspapers
Industrial products Industrialproducts are those purchasedforfurther processing or for use in conducting abusiness.Thus,the distinction between aconsumer product and an industrial product isbased on the purpose for which the product isbought.Ifa consumerbuys a lawnmower for usearound home,the lawn mower is a consumerproduct.If the same consumer buys the samelawn mower for useinalandscapingbusiness,thelawn mower isanindustrial product.The three groups of industrial productsand services includematerialsand parts,capital items,and supplies andservices.Materials andpartsinclude rawmaterials andmanufacturedmaterialsandparts
◼ Industrial products ◼ Industrial products are those purchased for further processing or for use in conducting a business. Thus, the distinction between a consumer product and an industrial product is based on the purpose for which the product is bought. If a consumer buys a lawn mower for use around home, the lawn mower is a consumer product. If the same consumer buys the same lawn mower for use in a landscaping business, the lawn mower is an industrial product. ◼ The three groups of industrial products and services include materials and parts, capital items, and supplies and services. Materials and parts include raw materials and manufactured materials and parts