2.4: 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.
