Describe the various categories of consumer products with examples
What will be an ideal response?
Consumer products are products and services bought by final consumers for personal consumption. The various categories of consumer products are:
a) Convenience products: These are consumer products and services that customers usually buy frequently, immediately, and with minimal comparison and buying effort. Examples include laundry detergent, candy, magazines, and fast food.
b) Shopping products: These are less frequently purchased consumer products and services that customers compare carefully on suitability, quality, price, and style. Examples include furniture, clothing, major appliances, and hotel services.
c) Specialty products: These are consumer products and services with unique characteristics or brand identification for which a significant group of buyers is willing to make a special purchase effort. Examples include specific brands of cars, high-priced photography equipment, designer clothes, gourmet foods, and the services of medical or legal specialists.
d) Unsought products: These are consumer products that the consumer either does not know about or knows about but does not normally consider buying. By their very nature, unsought products require a lot of advertising, personal selling, and other marketing efforts. Classic examples of known but unsought products and services are life insurance, preplanned funeral services, and blood donations to the Red Cross.
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