Types of Products regarding the markets

I. Consumer Products
Consumer products are those bought by final consumers for personal consumption. Marketers
usually classify these goods further based on how consumers go about buying them. Consumer
products include convenience products, shopping products, specialty products, and unsought products. These
products differ in the ways consumers buy them and therefore in how they are marketed
• Convenience products are consumer products and services that the customer
usually buys frequently, immediately, and with a minimum of comparison and
buying effort. Examples include soap, candy, newspapers, and fast food.
Convenience products are usually low priced, and marketers place them in many
locations to make them readily available when customers need them.
• Shopping products are less frequently purchased consumer products and services
that customers compare carefully on suitability, quality, price, and style. When
buying shopping products and services, consumers spend much time and effort in
gathering information and making comparisons. Examples include furniture,
clothing, used cars, major appliances, and hotel and motel services.
• Shopping products marketers usually distribute their products through fewer
outlets but provide deeper sales support to help customers in their comparison
efforts.
• Specialty products 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 and types of cars, highpriced
photographic equipment, designer clothes, and the services of medical or
legal specialists. A Lamborghini automobile, for example, is a specialty product
because buyers are usually willing to travel great distances to buy one. Buyers
normally do not compare specialty products. They invest only the time needed to
reach dealers carrying the wanted products.

• Unsought products are consumer products that the consumer either does not
know about or knows about but does not normally think of buying. Most major
new innovations are unsought until the consumer becomes aware of them through
advertising. Classic examples of known but unsought products and services are life
insurance and blood donations to the Red Cross. By their very nature, unsought
products require a lot of advertising, personal selling, and other marketing efforts