Commodity School

1154 Words Nov 20th, 2012 5 Pages
Marketing Theory
Commodity School

01.11.2012
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Bahcesehir University, MA Marketing

What is commodity school and what are strengths and weaknesses of that thought?
Marketing theory has been discussed over years. Many theorists had tried to explain marketing thought since it was a separate field apart from economics. In order to indicate progress of the theory; Sheth, Gardner and Garret in the book of Marketing Theory Evolution and Evaluation compiled all schools of marketing. They also argue how successful each thought is while developing, implementing and distributing of those schools. On that paper, it will be tried to analyze what commodity school is and what its strengths and weaknesses are according to
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Final part of his classification is the ones that have some particular attraction for the consumer, other than price, which induces him to put forth special effort to visit the store. For speciality goods, brands are essential.
Copeland’s theory can be seen most inspiring theory for commodity school of thought. Theorists after Copeland’s had tried to develop the definition of categories. One of them was Leo Aspinwall who launched a classification system using five characteristics to differentiate three types of goods. Aspinwall named his three categories the red goods, the orange goods and the yellow goods based on replacement rate, gross margin, adjustment, time of consumption and searching time.
Richard Holton asserted that Copeland’s definition of the categories of convenience goods, shopping goods and speciality goods needed to be revised. He emphasized that convenience goods and shopping goods can be defined accurately only from standpoint of the individual consumer. According to Holton, for the individual consumer, convenience goods are those goods for which the probable gain from making price and quality comparison among alternative sellers is thought to be small relative to the consumer’s appraisal of the searching costs in terms of time, money and effort. Shopping goods then, are for the individual consumer, those goods for which the probable gain from making

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