Classification Of Products Flashcards
(29 cards)
Products are classified as
Consumer products and business products
Consumer goods can be classified on the basis of their shopping habits they they are group ed as convenient goods shopping goods specialty goods and unsought goods consumer goods are targeted for consumptions of either individuals or family member
Consumer products
These are goods frequently purchased by consumers they often buy them in frequent consumption situation and they are purchased immediately and with minimum efforts
Convenience goods
Example include toiletries soaps cigarette and newspapers what kind of consumer products
Convenience goods
convenient good These goods can be puro classified as
Stable goods and impulse goods and emergency goods
Consumer purchase on a regular basis there is a high level of routinized response behavior for this kind of products toothpaste and soaps fall under this category
Stable goods
Consumer purchases without any planning or search efforts purchase of a magazine or a chocolate candy are examples of situation in which customers buy on impulse
Impulse goods
Consumer purchases on urgent need there is no previous decisions to buy them but the consumer is forced to buy two to the emerging situation this includes the purchase of umbrella antiseptic cream like burnout or knife to cut down trees during the rainy season
Emergency goods
are goods that the customer purchases by undergoing a competitive process of selections and purchase on such basis of as price psychological fitness sustainability style and quality
Shopping goods
Example include furniture electrical appliances home furnishing and clothes what type of good
Shopping goods
Shopping goods can be classified as
Homogeneous and heterogeneous
Which are the goods that are similar in quantity but differ in price level justifying a pricing comparison by the buyers
Homogeneous
Are the goods which differ in product features and services and these difference are more important than price for a decision
Heterogeneous
These are goods with unique characteristic or brand identifications for which the buyers need to make a special purchasing efforts
Specialty goods
What type of goods offer music systems televisions car and men’s clothing there is hardly any comparison in as each brand is unique and different than others the buyers is ready to spend more time and efforts while making a purchase decisions for this kind of goods
Specialty goods
These are goods the consumer does not know about or does not normally think of buying these goods needs advertising and more of personal selling efforts for making a sale example include life insurance products coffins and fire alarms
Unsought goods
Many of the good goods coming out of a firm enter another fumes productions process so that the final goods can be made ready for consumptions by individual or family consumers many of these products go to the production process as raw materials and super parts some of them also enter as capital items for augmented the finished goods and the rest of a resembling of supplies
Business products
These are goods that enter the manufacturer’s product completely there are of two types namely raw materials and manufactured materials and component parts
Materials and parts
Can be of farm product like rice maze cotton starch or natural products like fish petroleum gas iron and aluminium oil farm products are renewable as they involve agricultural productions the natural products are very often limited and often available in great bank and low units value long term supply contracts are a common phenomena in this category
Raw materials
Can be classified as component materials like iron steel zinc and components parts like motors printed integrated circuits the component materials are further fabricated like from alumina to aluminum pig iron to steel and close from yarn
Manufactured materials
Are long lasting goods that facilitates developing or managing the finished products
Capital items
Capital item include two groups what is it
Installation and equipment
Includes buildings shades office and shop floors and heavy equipment like earth removers trucks driller servers and mainframe computers
Installation
Is a major purchases for the organization
Installation
