5.3 : Types of Products

Marketers need to understand the significance of different types of consumer products - convenience, shopping, specialty, and unsought products as they require distinct marketing strategies.

Convenience products: such as fast-moving consumer goods, necessitate strategies that build brand loyalty due to frequent purchases and low customer involvement. For instance, Nutella leverages brand communities to empower consumers and cultivate loyalty.

Shopping products: like electronics, often involve higher customer involvement. Marketers should understand the role of consumer innovativeness and cultural context in product adoption.

Specialty products: are unique items with unique characteristics. Buyers are motivated by the perceived value of products, leading them to exert more effort in acquiring them. Brand recognition plays a key role, symbolizing quality and exclusivity and rendering comparisons with other products less critical.

Unsought products: are those consumers do not usually consider buying and require aggressive advertising and personal selling—for example, life insurance.

In summary, understanding the nature of different consumer products enables marketers to devise effective strategies, from enhancing product appearance to building brand communities, fostering loyalty, and promoting innovation.