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- Different products can be classified into four types based on consumer habits, price, and product characteristics123:
- Convenience products: These are low-cost and widely available products that consumers buy frequently and with little effort, such as bread, milk, soft drinks, etc.124
- Shopping products: These are higher-priced and less frequently purchased products that consumers compare and evaluate before buying, such as furniture, appliances, cars, etc.124
- Specialty products: These are unique and expensive products that consumers have a strong preference and loyalty for, and are willing to make a special effort to obtain, such as luxury brands, rare jewelry, etc.123
- Unsought products: These are products that consumers are not aware of or have no immediate need for, and require a lot of marketing and promotion to generate demand, such as life insurance, funeral services, etc.123
Learn more:✕This summary was generated using AI based on multiple online sources. To view the original source information, use the "Learn more" links.There are four types of products and each is classified based on consumer habits, price, and product characteristics: convenience goods, shopping goods, specialty products, and unsought goods.blog.hubspot.com/marketing/product-classificationGenerally, products are classified into two types; Consumer Products (convenience products, shopping products, specialty products, unsought products). Industrial Products (capital goods, raw materials, component parts, major equipment, accessory equipment, operating supplies, and services).www.iedunote.com/types-of-products4 Different Types of Products There are four different types of products as we explore this concept in-depth, these are; ‘convenience products’, ‘shopping products’, ‘specialty products’ and ‘unsought products.’www.advergize.com/marketing/different-types-of-pr…Examples of Different types of products
- Consumer products examples a. Convenience products: Bread Milk Soft drinks, Shampoo Over-the-counter medicines, etc b. Shopping products: Furniture Appliances Cars ...
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