On the surface, it may seem difficult to develop a classification system for the

Question

On the surface, it may seem difficult to develop a classification system for the variety of products consumers purchase, but the reality is that consumer purchase habits fall into four broad categories: convenience, shopping, specialty, and unsought. What are the differences between convenience, shopping, specialty, and unsought goods? Select various products as an example of each of the stages of the Product Life Cycle concept. Identify and discuss the marketing characteristics that are present for that particular life cycle stage with the product you selected.

Explanation / Answer

convenience products are those which purchase frequently by a customer in order to meet their obligations, needs etc. In general these are low cost or affordable price in nature and available in most locations. For example of these products are: magazines, milk and fast food items, sugar, etc. these products sales were repetitive in nature and never go for saturation or decline from the market.

the second kind is shopping products: The customer will compare the product attributes like quality, color, performance, price etc and select one and purchase it. These kind of produts are purchased in less frequently, so, choosen carefully by the customer. there are few outlets offer these kind of products and the customer choose based on their interest. Example for these products are: Furniture, vehicles, Hotel services etc.

speciality: these products carries some unuque and special characteristics, or group or brand identification, and the customer pay special attention or efforts to by these products. Example for these products are: Cars, old paintings, designer clothes etc, which are very costly in nature and customer can order it from the producer and get it.

Unsought products: a customer who does not know about these products, or even if they know but they do not have plan to buy them till the time they enter to shop or mall. These kind of proudcts are do not considered for buying in normally by the customers, but they buy these in a special conditions. Example for these products are: life insurances, planned funureal services etc.

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