Principles of Marketing
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 .Convenience products can be subdivided into three groups ie; Staples, impulse and emergency.
Staples products are the items that are routinely purchased on a regular basis at low price. Buyers spend very little time and effort to purchase these products. For example milk, bread, flour, salt, soft drinks, etc.
Impulse products are items that the customers do not plan to buy on a particular trip to a store. In other words, these items are purchased without planning prior to entering the store. Purchases of these items are heavily motivated by the audio-visual advertisements or newspaper advertisements. For example, chewing gum, newspapers, magazines, ice cream, candy, horoscope books, etc.
Emergency products include products required to meet an unexpected need. In other Emergency words, emergency products are items, which are purchased out of the urgent need. the purchase of an umbrella or raincoat during aspirin headache, electrical fuses during light-off, a tire to replace a flat tire, etc.
Similarly, Related Topics:
- Evolution of Marketing Philosophies
- Components of Marketing Information System
- Role of Marketing Information System
- Rural Marketing Strategies
- Characteristics of Rural Marketing
- Porter’s Five Forces Model
- Important Aspects of Product Line
- Importance of Labeling Decisions
- Factors to be considered while labeling the Product
- Packaging Policies and Strategies
- Features of Good Packaging
- Objectives of Packaging
- Types of Brand
- Importance of Branding
- Features of Convenience Products
- Levels of Market Segmentation
- Types of Product Positioning
- Types of Consumer Buying Decision
- Importance of Understanding Buyer Behavior
- Difference between Reactive and proactive marketing
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