Marketing MBA BBA

The Classification of Products in Marketing

IT chymes .
@ | Posted 21 Sep. 2017

Product Classification - Types of Products

  • On the basis of Durability & Tangibility: 1. Durable Goods- gds which are long lasting-clothes, electronic items, etc.  2. Non-durable Goods- gds which are not long lasting-vegetables, eatables, drinks, cosmetics, day to day usage items like soap, paste etc. 3. Services- Goods which are intangible, inseparable, variable and perishable- haircuts, legal advice, appliance repairs, etc.
  • Consumer Goods Classification: 1. Convenience Goods- goods purchased without any planning or search effort- chocolates, biscuits, etc. Also emergency goods like umbrella, raincoat, sweaters, etc. 2. Shopping Goods- goods purchased after enough search on such basis as suitability, quality, price, style, fashion, etc. 3. Speciality Goods- gds having unique characteristics or brand identification for which buyers are willing to make special purchasing effort. Eg. Mercedes Benz. 4. Unsought Goods- goods about which the consumer is not much aware of or does not normally think of buying- life insurance, encyclopedia, smoke detectors, etc.
  • Industrial Goods Classification: 1. Raw Material- 2. Unfinished Goods- 3. Finished Goods