Consumer Goods Classification

1171 Words Jan 13th, 2010 5 Pages
Introduction:
The classification of goods (physical products) is essential to business because it provides a basis for determining the strategies needed to move them through the marketing system.

The two main forms of classifications are consumer goods and industrial goods.
We are interested in this paper to elaborate more on Consumer Goods Classification only.
Consumer Goods:
Consumer goods are defined as goods that are bought from retail stores for personal, family, or household use.
Or, they can also be defined as:
Products intended for use or consumption by individuals, as opposed to organizations, companies or businesses.
Consumer goods are generally divided into subcategories according to the method by which they are purchased or
…show more content…
Consumers will exert effort in searching for information, because shopping goods are bought infrequently. Hyundai Automobile and store-brand clothes are marketed as price-based shopping goods.
Because customers are going to shop for these goods, a fundamental strategy in establishing stores that specialize in them is to locate near similar stores in active shopping areas, in other words, shopping goods require selective distribution. Ongoing strategies for marketing shopping goods include the heavy use of advertising in local media, including newspapers, radio, and television. Advertising for shopping goods is often done cooperatively with the manufacturers of the goods.

Specialty Goods: Specialty goods are items that are unique or unusual—at least in the mind of the buyer. Buyers know exactly what they want and are willing to exert considerable effort to obtain it. These goods are usually, but not necessarily, of high value, and they may or may not be durable goods. They differ from shopping goods primarily because price is not the chief consideration. Often the attributes that make them unique are brand preference (e.g., a certain make of automobile) or personal preference (e.g., a food dish prepared in a specific way). Other items that fall into this category are wedding dresses, antiques, fine jewelry, and golf clubs.
They can also be defined