Consumer Goods Classification - 1171 Words

Introduction: The classification of goods (physical products) is essential to business because it provides a basis for determining the strategies needed to move them through the marketing system. The two main forms of classifications are consumer goods and industrial goods. We are interested in this paper to elaborate more on Consumer Goods Classification only. Consumer Goods: Consumer goods are defined as goods that are bought from retail stores for personal, family, or household use. Or, they can also be defined as: Products intended for use or consumption by individuals, as opposed to organizations, companies or businesses. Consumer goods are generally divided into subcategories according to the method by which they are†¦show more content†¦For price-based shopping goods, consumers judge product attributes to be similar and look around for the least expensive item/store. Consumers will exert effort in searching for information, because shopping goods are bought infrequently. Hyundai Automobile and store-brand clothes are marketed as price-based shopping goods. Because customers are going to shop for these goods, a fundamental strategy in establishing stores that specialize in them is to locate near similar stores in active shopping areas, in other words, shopping goods require selective distribution. Ongoing strategies for marketing shopping goods include the heavy use of advertising in local media, including newspapers, radio, and television. Advertising for shopping goods is often done cooperatively with the manufacturers of the goods. Specialty Goods: Specialty goods are items that are unique or unusual—at least in the mind of the buyer. Buyers know exactly what they want and are willing to exert considerable effort to obtain it. These goods are usually, but not necessarily, of high value, and they may or may not be durable goods. They differ from shopping goods primarily because price is not the chief consideration. Often the attributes that make them unique are brand preference (e.g., a certain make of automobile) or personal preference (e.g., a food dish prepared in a specific way). Other items that fall into this category are wedding dresses, antiques, fine jewelry, and golfShow MoreRelatedMarketing Plan of Lux2484 Words   |  10 Pagesfor Unilever products. Our brands are trusted everywhere and, by listening to the people who buy them, weve grown into one of the worlds most successful consumer goods companies. In fact, 150 million times a day, someone somewhere chooses a Unilever product. Highlights Unilever is one of the worlds leading suppliers of fast-moving consumer goods. Here are some recent highlights from our three global divisions - Foods, home  care and  personal care. Vision Unilever products touch the lives of over 2Read MoreCommodity School1154 Words   |  5 Pageseconomic-noneconomic. In first dimension, for the noninteractive schools selling is the essential concept whereas relationship is main source for interactive schools. In second dimension, for economic classification, the focus is economic variables such as production and distribution efficiency, prices of inputs and outputs, and consumer income levels. At the other dimension, participants of marketing activities cannot be explained by sole economic influence. It can be clarified by social and psychological factors thatRead MoreThe Terms Of A Contract1312 Words   |  6 Pagesclarify, this act encompasses the Sale of Goods Act 1979, Unfair Contract Terms Act 1977, and the Supply of Goods and Services Act 1982. The Consumer’s Rights Act 2015 focuses on the rights of the consumer in relation to the trader. Accordingly, this statute involves three situations: trader supplying goods to t he consumer, trader supplying services to the consumer, or trader supplying digital content to the consumer. In s(2), the statute defines a consumer as a person acting for purposes outside theirRead MoreEconomic Indicators Of The Disney Company1401 Words   |  6 Pagescase, the Disney Company will use the following economic indicators: consumer price index; productivity and cost; employment cost index; producer price index; consumer confidence level; Manufacturing and trade inventories and sales and corporate profits. Consumer price index Consumer price index is an economic indicator that is used by Disney to measure the estimation of price changes goods and services. The Disney uses the consumer price index to measure the prices changes of its different productsRead MoreService Management Essay1084 Words   |  5 Pagesstrategic classification of services. Discuss the role of a service manager from an open-systems view of service. An Integrated Approach to Service Management The Eight Components †¢ Product Elements †¢ Place, Cyberspace, and Time †¢ Promotion and Education †¢ Price and Other User Outlays + Process + Productivity and Quality + People + Physical Evidence Require the Integration of Marketing, Operations, and Human Resources Service/Product Bundle Element Business Core Goods Example Read MoreStereotyping in Marketing: Good or Bad?1413 Words   |  6 PagesStereotyping in Marketing: Good or Bad? It s Monday morning at a well-to-do marketing company. You have an 11:00am meeting to interview a potential buyer for an Asian product line. It is now Ten-thirty. Your potential client s flight arrives into Metro Airport. Prior to their arrival to your office you douse the air with a light sent of orange. The meeting goes as expected, very well. Instead of a hand shake you bow to the group. You and the team leader exchange business cards. You askRead MoreHow Do Living Things Interact1733 Words   |  7 PagesTask one A). How do living things interact? Living things find a way to live off the land. Not with artificial flavouring or stuff like that. But it may not last unless we take good care of it. Living things interact by: 1). Viruses Learn about viruses and their surroundings, and how they are created. What is a Virus A virus s a small, NONLIVING particle that invades and then reproduces inside a living cell. Viruses are considered nonliving because they are not cells. They cannot: * use energyRead MoreSwot Analysis : Business Marketing Essay1485 Words   |  6 Pagesinternet Key Competitive Advantages It is healthy, has an image of being for active lifestyle, own opinion Great taste and flavour amongst young children, attracts their attention Great taste and flavour amongst young children, attracts their attention Good for the price and strong brand image as well strong product with great sponsorship amongst well known teams. Brand Image Has strong brand image, It has a modest brand image it’s more common around the world than it is here. It has a modest brand imageRead MorePCI Compliance Analysis1055 Words   |  5 Pagesanything using a credit card, you are most likely aware that thousands of cardholders have had their data stolen by unethical hackers. For this reason, there are standards, which businesses that offer credit card payment as an option must follow. Consumers have the assurance that a business is working to protect their valuable information by adhering to Payment Card Industry, PCI compliance mandates. What is PCI Compliance? All major credit card issuers must adhere to the Payment Card Industry DataRead MorePrice Elasticity of Demand and Supply1102 Words   |  5 Pageselasticity of demand measures the sensitivity of the quantity demanded to price. The price elasticity of demand is the percentage change in quantity demanded brought by a 1 percent change in price. The value of price elasticity of demand for a normal good must always be negative, reflecting the fact that demand curves slope downward because of the inverse relationship of price and quantity. The price elasticity of demand can be an extremely useful piece of information for business firms, nonprofit