Consumer Products Classification Quiz

Study Notes

Classification of Consumer Products

Four main categories: convenience products, shopping products, specialty products, and unsought products.

Convenience Products

Inexpensive items that require minimal shopping effort.
Consumers typically purchase without extensive planning.
Examples include candy, soft drinks, aspirin, dry cleaning, and car washes.
Widely accessible in stores like Walmart, Walgreens, and vending machines.
Popular brands include Coca-Cola, Bayer aspirin, and Right Guard.

Shopping Products

Require comparison shopping due to higher prices and limited availability.
Consumers assess various brands and stores based on style, practicality, price, and suitability.
Comparison process involves a consumer's willingness to invest effort to achieve desired outcomes.

Shopping Products Variability

Two types: homogeneous and heterogeneous.
Homogeneous products: perceived as similar; consumers often seek the lowest-priced option with desired features (e.g., washers, refrigerators).
Heterogeneous products: seen as distinct; differences in price, quality, and features make comparison challenging. This process is highly personal, leading to individual results (e.g., comparing universities).

Specialty Products

Items for which consumers extensively search and are unwilling to accept substitutes.
Examples include luxury brands like Rolex watches, Rolls Royce vehicles, and specialized medical services.

Unsought Products

Products that potential buyers are unaware of or do not actively seek out.
Examples include insurance and burial plots, which necessitate proactive selling and convincing advertising techniques.

Description

Test your knowledge on the classification of consumer products such as convenience, shopping, specialty, and unsought products. Understand the characteristics and examples of each type to deepen your understanding of consumer behavior and marketing strategies.