Consumer goods and products

What do you mean by consumer goods and products
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Explain different types of goods and products consumer goods and products.
Consumer goods or products meaning goods which are defined for use by ultimate consumers or household and in such a form that they can be used without any commercial processing are known as consumer goods or
Consumer products are those goods and services which are determined for the final consumers for their personal family or household use
Some of the common examples of consumer goods are bread butter, TV, calculator, furniture, cosmetics and jewelry, two wheelers, cars. Etc.
All these goods are made for the use of consumption, satisfaction by the ultimate uses of the consumers or reselling but not for processing or for the transformation
Classification all types of consumer goods :- *******************************************************************************
The various kinds of consumer goods can be classified in the following manner
I) convenience goods :-
These are the items which are usually purchased by the customer frequently, immediately and with minimum efforts.
Such goods are available to the customers most conveniently at their own places or at nearby places as frequent purchases are made of these goods
The examples include household products of low value low unit value like tobacco products, Soaps, Newspapers, Drugs, Grocery products, Soft drinks etc.
In case of these products the buyer has complete knowledge of the product characteristics before they decide to purchase
These goods are rapidly consumed as they are non-durable in nature
so the customers does not take much time in taking, in making buying decisions
Because of this to capture the market demand and to maximize his sales the producer must secure the widest possibility of large outlets for making his products readily available at the required places,
For marketing of these goods the manufacturer has to rely upon intensive distribution, intensive advertising and in store displays
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=Shopping goods:- *******************************************************************************
Shopping goods these are the items of which comparison are made by the customers while selecting and purchasing items on the basis of certain product characteristics likes the state of sustainability, Quality price, style and standard
These goods are more costly than convenience goods and are found in less number of stores
shopping goods are of two types Homogenous products and Heterogeneous products
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Homogenous products *******************************************************************************
These products are similar in quality and carries same features but they differ in price example refrigerator washing machine TV etc
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Heterogeneous products *******************************************************************************
These are non-standardized and Stylish in nature as the different product characteristics and services
Example of furniture, Jewellery, dress material, household appliances etc.
For marketing of various shopping goods manufacturer wholesaler should select central market places or shopping centres for locating the product outlet
Marketer should also undertake all the necessary promotional efforts.
like physical distribution, advertisement, display, exhibition etc for creating demand and increasing the sale of these goods
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speciality goods *******************************************************************************
3) As the name indicates specialty goods are products carrying unique features or brand identification for which certain number of buyers make special efforts for purchasing these items fancy and luxurious items like cars, stereo systems, scooters, mens suits etc are some of the example of speciality goods in case of speciality goods normally comparison are not made with substitute brand as the customer is already aware of the product or brand and he is willing to invest his own time and effort to search for good dealer and to reach the particular store shopping place
Here the dealers are not required to to select convenient locations however they must late prospective buyers know their locations therefore a manufacturers of such a goods have to undertake those marketing efforts which can popularize their brands and create brand loyalty among the buyers this includes
maintaining the product attributes and features
reminder advertising and
publicity
selection of good distribution Network and
monitoring channel members performance
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4) Unsought goods these are the goods about which the potential customers do not know of their existence or they do not think to buy these products
smoke detectors are unsought goods until the consumer is made aware of them through the advertisement for publicity
some examples of non existing unsought goods are
life insurance
gravestones
lawyers or physician services etc
These products are not normally purchased by the customer unless there is a high level of advertising and promotion campaign describing satisfying needs and
requirements of those products to create the demand for such a products and services the market wholesaler is required to inform his target customers about the product existence with the help of advertising and personal selling activities