Consumer Products

consumer product

Product is anything that works as a need satisfiers.

The product offering is the first step in creating a marketing mix. Marketing managers cannot decide a price, create a promotion strategy or establish a distribution channel until they have a product to sell. A fair price, a convincing promotion campaign, and an excellent distribution channel are of no use if the product offering is not good or adequate.

An exchange may include everything that a person receives, including all of the positive and negative aspects. An item such as shoes or a haircut can be considered a product. Product features include style, color, and size. Intangibles like service, the reputation of the seller, and how consumers view the product are just as important.

Depending on the buyer’s intent, products can be classified either as business or consumer. Their intended use is the key difference between these two types of products. If the product’s intended use is for a business purpose, it is considered a business or industrial product.

A consumer product is one that is purchased to meet a person’s needs or wants. The intended use of an item may allow it to be classified either as a business product or a consumer product. These include light bulbs, pencils, paper, and computers.

Convenience Products

A convenience product is an inexpensive item that doesn’t require much shopping effort. Convenience products include candy, soft drinks, and aspirin. Convenience products are bought regularly by consumers, often without planning.

Consumers are familiar with the brands of most popular convenience products such as Old Spice deodorant, Bayer aspirin, and Coca-Cola. Convenience products require wide distribution to be able to sell enough units to reach profit goals. Extra gum is sold at all locations, such as Walmart, Walgreens, and gas stations.

Shopping Products

A shopping product is typically more expensive than a convenience product and can be found in fewer shops. A shopping product is usually purchased only after consumers have compared the prices and styles of several stores. To get the desired results, they are willing to put in some effort.

There are two types: heterogeneous or homogeneous shopping products. Homogeneous shopping products are perceived by consumers as being essentially the same, such as washers, dryers, and refrigerators.

Consumers will typically choose the lowest-priced product that offers the desired features when shopping for homogeneous products. They might compare Kenmore, Whirlpool, and General Electric refrigerators.

Contrary to this, heterogeneous shopping products are perceived by consumers as being essentially different. This includes furniture, clothing, and housing. Because of the differences in features, prices, and quality, consumers often find it difficult to compare heterogeneous products.

Comparing heterogeneous shopping products can help you “find the best product or brand“; this is often a highly personal decision. It would be difficult, for example, to compare a small private college with a large public university or Ikea with La-Z-Boy.

Specialty Products

If a consumer searches extensively for a specific product and is unwilling to accept substitutes, it’s a specialty item. Specialty products are usually Omega watches, Rolls-Royce automobiles, and Bose speakers. Ruth’s Chris Steak House and highly specialized forms of medical care are all examples.

To maintain their product’s exclusivity, specialty products marketers often resort to selective and status-conscious advertising. Distribution can be limited to a few outlets within a particular geographic area. Quality of service and brand names are often important.

Unsought Products

Unsought products are those that are not known to potential buyers or that the buyer isn’t actively seeking. Until advertising and distribution increase their awareness, new products fall under this category.

Certain goods are always marketed to unsought products, particularly those we don’t like thinking about or care enough to spend money. Insurance, burial plots, or similar products, require persuasive advertising and aggressive personal selling.

Potential buyers are actively sought out by salespeople. The majority of consumers don’t seek this product so the company must reach them directly through direct mail or salespersons.

Product Items, Lines, & Mixes

Rarely does a company sell one product? It sells more often a range of products. A product item can be defined as a particular version of a product. It is an offering that stands out from other products in the company’s portfolio. Coca-Cola’s Sprite can be an example of a product item.

A product line is a group of closely related products. One example of a Coca-Cola product line is “Soft Drinks”. Coca-Cola is available in various containers and cans. Each container and size are a separate product item.

The product mix of an organization includes all products that it sells. Coca-Cola’s product mix includes all its products, including soft drinks, juices, and waters as well as sports drinks, teas, and other beverages. Each product in the product mix might require a different marketing strategy.

However, in some cases, entire product lines or even product combinations share certain marketing strategies components. UPS, for example, promotes its services with the slogan “United Problem Solvers”. Organizations can reap many benefits by organizing related items into the product lines.

Advertising Economies

Advertising with product lines is more efficient because it allows for economies of scale. Multiple products can be promoted under one line. Coca-Cola may use the slogan “Open Happiness”, to promote its entire line.

Package Uniformity

Package uniformity can benefit a product line. All packaging in the line may share a common look, but they still have their own identities. Coca-Cola’s soda packaging provides another example. Coca-Cola Classic and Diet Coke share some colors and design elements but are all distinctive.

Standardized Components

Standardized components allow companies to reduce manufacturing costs and inventory costs by creating product lines. General Motors, for example, uses the same parts in all models and makes of automobiles.

Efficient Sales & Distribution

Procter & Gamble’s product lines allow sales staff to offer customers a wide range of options. If the company offers a complete line, retailers and distributors are more likely to stock its products. A product line is more likely to have lower transportation and warehousing expenses than a collection of individual products.

Equivalent Quality

Consumers expect that all products within a product line will be of equal quality. Consumers expect the same quality from all Gillette razors and Campbell’s soups.

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