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Consumer Products: Convenience, Shopping, Specialty & Unsought Products

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  • 0:10 Consumer Products
  • 1:02 Convenience Products
  • 2:14 Shopping Products
  • 3:28 Specialty Products
  • 4:25 Unsought Products
  • 5:00 Lesson Summary
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Lesson Transcript
Instructor: Jennifer Lombardo
In this lesson, you will learn the difference between business and consumer products. We will also discuss the different ways they can be classified, which include the areas of convenience, shopping, specialty and unsought.

Consumer Products

A stapler can be a business product or a consumer product depending on who is using it.
Stapler

Did you know that a product is labeled according to the end user? A product can be a business product or a consumer product. If the end user of the product is the consumer, then the product is a consumer product. If the end user is a business, then it is categorized as a business product. For example, a stapler can be either, depending on who is using the product. A business product is used to manufacture other goods or services to resell, while a consumer product is purchased to satisfy individual wants or needs. We will only be discussing consumer products. Remember that a product includes all items, such as warranties, packaging, after-sales follow-up material, etc. Consumer products can also be further broken down into specific categories, such as convenience, shopping, specialty, and unsought.

Convenience Products

A convenience product is a consumer product that takes little thought, is routine, purchased often, appeals to a large target market, and the consumer purchases with little planning. Our favorite Ninja decides that he is in need of a snack. He finds the closest convenience store and rushes in and picks up his favorite Ninja Energy Bar for one dollar. Other items that would fit a convenience product example would be if the Ninja purchases candy, soda, water, or a hairbrush. These types of products still have some brand loyalty to their consumers. After all, most consumers want a specific brand of soda or type of candy bar.

Products, such as candy and soda, require little thought and appeal to a large target market.
Convenience Products

In order for these products to reach their target market, they have to have widespread availability. Convenience products usually are not associated with a large price so companies must sell a large volume in order to make a profit. Think of how many places you can buy a pack of gum - vending machines, drug stores, supermarkets, convenience stores, and warehouse clubs. Most of the time these products do not require much thought and are almost reflex reactions for the consumer to buy. Convenience products also do not require complicated information-based ads. Instead, the promotion is all about deals and reminding the consumer that the product is available.

Shopping Products

A shopping product is a type of product that requires consumer research and comparison of brands. Homogeneous and heterogeneous are the two specific types of shopping products. Homogeneous products are perceived by consumers as very similar in nature and the final purchase is usually determined on the lowest price. If our farmer's hay compactor needed replacement, he would look for the most affordable one. Other examples of this type of shopping product would be appliances, such as washers, dryers, or a fridge.

Heterogeneous products

With heterogeneous shopping products, consumers look for the brand or image that works for them.
Heterogenous Shopping Products

Specialty Products

Has there ever been a product where you would not accept any substitutes? Our Ninja will only use Ninja X Swords that are made from specific metal. This is an example of a specialty product. Specialty products are products where consumers are concerned with brand image and the quality of their purchases. Consumers really do not want substitutes and are brand loyal.

Although consumption rates of a specialty product can be similar to a shopping product, the price is usually higher and consumers are much more selective in their purchasing. The timing of the purchase might correspond to when they can actually get a fair price. For example, if all you want is a Harley-Davidson motorcycle, you're not going to make any exceptions. Examples of specialty products would also be BMWs, Rolex watches, and Tiffany jewelry. Marketers promote these products to a small target market through limited distribution channels to add to the exclusiveness of the product.

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