Marketing with mon
There are several types of products which differ in purchasing behaviors, price and function. Two of the most common types of products are consumer products & business products. In itself, there are four types of consumer products. 1. Convenience Products: bought frequently, conveniently and with minimal effort. Often located at or near the check out. 2. Shopping products: A consumer might compare alternatives based on price, quality and/or style. EX: Organic vs. Nonorganic foods 3. Specialty Products: A consumer makes a special effort to seek information on these types of products. EX: Cars, Houses, basically any large purchase 4. Unsought Products: These are products that we know are there but don't have any need for them and/or we can't afford them. EX: There is a small consumer market for personal helicopters. How somebody classifies a certain product may be different to the person behind them in line. Some people might find a camera to be a quick, effortless buy, depending on their intended usage and income. Another person might spend time doing research, finding the best price in the area and might be loyal to only one brand. Business Products are usually products that are the result of derived demand, meaning that they usually sell from a manufacturer based on what the consumer is buying from the middleman. An example of that is oil. Drillers and companies in the Middle East sell gas based on consumption world wide. The higher the demand They can be categorized into Components which are items that become part of the final product (ex: lumber, metal, grain, car parts). They can also be Support Products, which are used to assist in producing other goods & services like:
Services include anything from cleaning, maintenance, repair, customer service, restaurant business, salons & spa's. Anything that aids the consumer in past purchases or making a purchase, is considered a service. Works Cited:
N.d. Irving Weber Associates, Inc. Business Products. Web. Lumber: A Business Product. N.d. Business Products. Web. 1 Mar. 2015. N.d. The Hershey Company. Hershey's Variety Helps Drive Sales across Your Entire Candy Set! Web. 1 Mar. 2015. N.d. Types of Consumer Offerings. Web. 1 Mar. 2015.
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Monica AndreaniJunior at Saint Michael's College, MJD major, Business minor. Here to teach you the basics of Marketing. Archives
April 2015
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