5.4:
Marketing Considerations for Consumer Products
Consumer goods are marketed differently based on the type of consumer products and associated purchasing behaviors.
For example, in the confectionery industry, M&M candies and KitKat chocolates are considered convenience products.
They're easily purchased with minimum effort and are generally inexpensive.
Marketers ensure these items are mass-promoted across various media channels and distributed widely in supermarkets, department stores, and vending machines.
On the other hand, Swiss chocolates like Lindt and Toblerone are shopping products.
They are priced higher and selectively distributed in hypermarkets, supermarkets, duty-free shops, and online worldwide.
They use traditional and social media platforms to target their audience.
Then there are gourmet chocolates like Delafee of Switzerland or Ghirardelli gift boxes that fall under the specialty category.
These are high-priced and available in selected outlets and exclusive gourmet sections online.
Their marketing strategies are targeted, utilizing traditional and digital media to appeal to a specific audience seeking exclusivity.
Lastly, unsought products like throat-soothing candies require aggressive marketing to raise consumer awareness.
5.4 Marketing Considerations for Consumer Products
Understanding the marketing considerations for different types of consumer products – convenience, shopping, specialty, and unsought – is vital for marketers as each category requires unique marketing strategies.
For convenience products, like Fast Moving Consumer Goods, the emphasis is often on accessibility and affordability. These products are usually low-priced and widely available. The promotion focuses on creating brand recognition.
Shopping products, like electronics, require a more thoughtful approach. The product needs to offer compelling features and benefits. Pricing is competitive, and the place often includes physical stores and online platforms. Promotions for these products involve detailed product information and comparisons.
Specialty products, such as luxury goods or unique crafts, demand a different strategy as the product must be distinctive and high-quality. Pricing is typically high, reflecting the product's exclusivity. These products might be sold in specific locations or exclusive online platforms. Promotion for specialty items often focuses on the unique selling proposition and brand story.
Unsought products, like insurance policies, require marketers to educate consumers about the product's needs and benefits. Pricing strategies could include installment plans, while promotion often involves personal selling and aggressive advertising.