{"id":90843,"date":"2023-01-31T07:44:00","date_gmt":"2023-01-31T07:44:00","guid":{"rendered":"https:\/\/businessyield.com\/?p=90843"},"modified":"2023-01-31T07:44:03","modified_gmt":"2023-01-31T07:44:03","slug":"what-are-consumer-products","status":"publish","type":"post","link":"https:\/\/businessyield.com\/terms\/what-are-consumer-products\/","title":{"rendered":"What Are Consumer Products? Meaning, Types and Examples","gt_translate_keys":[{"key":"rendered","format":"text"}]},"content":{"rendered":"

Consumer products are the end results of product manufacturing. They can range anywhere from unsought products such as cars to the everyday products we use like beverages, pencils, etc. Let’s learn more about consumer products and how to test them for market prelaunch in this article. We’ll also see the role of the US commission in ensuring consumer products safety.<\/p>

What Are Consumer Products?<\/span><\/h2>

Consumer products, also known as final goods, are items purchased for personal use by individuals or households. In other words, consumer products are goods purchased by the average consumer for consumption. Consumer products are classified into four types, each with its own set of marketing considerations.<\/sup><\/p>

Types of Consumer Products<\/sup><\/h2>

#1. Convenience products<\/sup><\/h3>

Consumers most frequently purchase convenience products. They are purchased without much thought or comparison to other options. Convenience products are typically low-priced, undifferentiated from other products, and placed in easily accessible locations. The products are widely distributed, require extensive promotion, and are strategically placed.<\/sup><\/p>

Convenience products include sugar, laundry detergent, pencils, pens, and paper.<\/sup><\/p>

#2. Shopping Products <\/sup><\/h3>

Consumers purchase shopping products less frequently. Consumers typically compare shopping product attributes such as quality, price, and style to other products. As a result, shopping products are more carefully compared against one another, and consumers spend significantly more time comparing alternatives to convenience products. Shopping products require personal selling and advertising, are sold in fewer outlets (compared to convenience products), and are distributed selectively.<\/sup><\/p>

Shopping products include airline tickets, furniture, electronics, clothing, and phones.<\/sup><\/p>

#3. Specialty products<\/sup><\/h3>

Specialty products have distinct characteristics or brand identification. Consumers of such products are willing to go out of their way to purchase specialty items. Specialty products are typically expensive, and buyers do not spend much time comparing them to other products. Rather, buyers put in more effort when purchasing specialty products than other types of products.<\/sup><\/p>

As an example, consider a Ferrari (a specialty product). A Ferrari buyer would have to put in a lot of effort to find the car. Specialty products necessitate targeted promotions and exclusive distribution; they can only be found in a few places.<\/sup><\/p>

Specialty products include sports cars, designer clothing, exotic perfumes, luxury watches, and famous paintings.<\/sup><\/p>

#4. Unsought Products<\/sup><\/h3>

Unsought products are those that consumers do not normally purchase or would not consider purchasing under normal circumstances. They are typically not considered by consumers until they are required. The cost of unsought goods varies. Unwanted products necessitate aggressive advertising and personal selling because they are not commonly thought of by consumers.<\/sup><\/p>

Unsought products include diamond rings, pre-planned funeral services, and life insurance.<\/sup><\/p>

What Are The Features Of Consumer Goods?<\/sup><\/h2>