Understanding Products in Marketing

Convenience products are usually high-priced items that require a significant purchase effort from consumers.

Shopping products are consumer products that customers compare carefully on suitability, quality, price, and style.

Specialty products are consumer products that have common characteristics and are available in many locations for easy accessibility.

Unsought products are consumer products that consumers are already aware of and actively seek to purchase.

Most major new innovations are considered unsought products until consumers become aware of them through advertising.

Industrial products are purchased for personal consumption, while consumer products are bought for further processing or business use.

A product is anything that can be offered to a market for attention, acquisition, use, or consumption that might satisfy a want or need.

Services are a form of product that consists of physical goods offered for sale.

A company's market offering always includes both tangible goods and services.

The core customer value is the most basic level which addresses what the customer is really buying.

When a woman buys lipstick, she is only buying lip color.

Product planners must turn the core benefit into an actual product.