Product Classification
Product & services fall in to two broad classes based on the types of consumers that use them.
Consumer Product
Industrial Product
Consumer Product:
Consumer Products are those bought by final consumers for personal consumption.
Marketers usually classified these goods based on how consumers go about buying them. Consumer product includes convenience Product, Shopping Product, Special product.
Convenience Product: Consumer product that the consumer usually buys, frequently, immediately and minimum of comparison & buying effort. Ex: Soaps, New papers etc…
Shopping Product: Consumer goods that, the customer in the process of selection & purchase characteristically compares on such habits as suitability, quality, price & style.
Ex. Furniture & clothing
Special Product: Consumer with unique characteristics or brand identification for which a significant group of buyers are willing to make a special purchased effort. Ex. Car, Luxury Goods etc…
Source: Books & Notes
Tags: Buying Behaviour, Consumer Behaviour, Consumer Product, convenience Product, finance, Financial management, Human Resource, Human Resource Management, Industrial Product, Management, Marketing Management, MBA Career, MBA Finance, MBA Marketing, MBA Notes, MBA project, Organisation, organisational Behaviour, organisational Theory, Product Classification, PRODUCT MANAGEMENT, Shopping Product, Special product
By: Management Duniya
No comments:
Post a Comment