Management Notes

Reference Notes for Management

Features of Convenience Products | Principles of Marketing

Features of Convenience Products

Features of Convenience Products

➦ Convenience products are relatively inexpensive products, which are purchased minimum of time and effort because the buyer has knowledge about the characteristics of the product .

➦ The consumer does not want to gather additional information and will accept a substitute rather than spending his time and effort to find the product from store to store. a

➦ Also, consumer don’t want to compare price and quality of these products because the price of these products is usually low. The features of convenience products are listed below:

➨ Convenience products are items that consumers tend to buy frequently, often on a regular basis. These products fulfill immediate needs and are staples in households or daily routines.

➨ Generally, convenience products are priced lower compared to other types of products. This affordability makes them attractive for regular purchases without significant strain on the consumer’s budget.

➨ While brand recognition may influence consumer choices, it’s not the primary concern when purchasing convenience products. Consumers are often more focused on the product’s convenience and availability rather than brand loyalty.

➨ Many convenience products are consumable, meaning they are intended for one-time or limited use. Examples include food items, personal care products, and household supplies that need to be replenished regularly.

➨ Consumers typically buy convenience products from locations that are easily accessible and convenient for them. This could be neighborhood stores, gas stations, online platforms with fast delivery options, or vending machines in high-traffic areas.

➨ While price and quality are factors in consumer decision-making, they are not typically the primary considerations for convenience products. Consumers prioritize convenience and accessibility over other factors when purchasing these items.

➨ There is often intense competition in the selling of convenience products. Due to their frequent purchase nature and lower price points, numerous brands and retailers compete for consumers’ attention and loyalty in this market segment.

➨ Convenience products encompass a wide range of items, including snacks, beverages, toiletries, household essentials, and more. This variety ensures that consumers have options to choose from based on their preferences and immediate needs.

➨ Packaging plays a crucial role in convenience products, often designed for easy opening, handling, and consumption on-the-go. Packaging formats such as single-servings, resealable pouches, and compact sizes enhance the convenience factor for consumers.

➨ Convenience products often leverage impulse buying behavior. They are strategically placed near checkout counters or in high-traffic areas of stores to encourage last-minute purchases by appealing to consumers’ immediate desires or needs. This impulse-driven aspect contributes to the frequent purchase pattern of convenience products.

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