What are convenience, shopping specialty and unsought products?
Consumer products
Consumer products are defined as products that satisfy a consumer’s wants or needs. There are four types of consumer products, and they are convenience, shopping, specialty, and unsought. Convenience products are low cost, routine, low involvement, wide target market, and easily available.
What are examples of unsought products?
The classic examples of known but unsought goods are funeral services, encyclopedias, fire extinguishers and reference books. In some cases even an airplane/helicopters can be cited as examples of unsought goods. The purchase of these goods may not be immediate and can be deferred.
What are unsought goods and services?
Unsought Goods are goods that the consumer does not know about or does not normally think of buying. Purchases of unsought goods may arise due to danger or the fear of danger. The classic examples of known but unsought goods are funeral services, encyclopedias, fire extinguishers, and reference books.
Can you market unsought goods?
Marketing unsought products can be a challenge. However, with the right tools and methods, a business can easily market a product in low demand and still sell it. By using all of these methods, any business can successfully market unsought products and eventually turn them into some of the top selling items they have.
What is new unsought goods?
In marketing: Unsought goods. Finally, an unsought good is one that a consumer does not know about—or knows about but does not normally think of buying. New products, such as new frozen-food concepts or new smartphones, are unsought until consumers learn about them through word-of-mouth influence or…
What is convenience product?
A convenience good is a consumer item that is widely available and purchased frequently with minimal effort. Convenience goods, such as newspapers and candy, are different than specialty goods, such as cars, which are more expensive and often carry a greater opportunity cost for the consumer.
What are Speciality products give two examples?
Specialty products require targeted promotions with exclusive distribution; they are found in select places. Sports cars, designer clothing, exotic perfumes, luxury watches, and famous paintings are all examples of specialty products.