PRODUCTS G, S, & I. Cluster of Satisfactions. Consumer Products: Personal or family needs (paper clip). Business Products: Used in business operations (paper clip).
MARKETINGGOLDENCHAPTER 11 CLASSIFYING CONSUMER PRODUCTS Convenience –Relatively inexpensive –Frequently purchased –Minimal purchasing effort –Available at lots of outlets –High turnover and low margin Soda, Candy, Gasoline, Newspapers
MARKETINGGOLDENCHAPTER 11 CLASSIFYING CONSUMER PRODUCTS Shopping –Purchased less frequently –Considerable amount of search effort –Available in fewer outlets –Lower turnover and higher margins Clothes, Shoes, Furniture, Electronics, House
MARKETINGGOLDENCHAPTER 11 CLASSIFYING CONSUMER PRODUCTS Specialty –I–Items with unique characteristics –B–Buyers will not accept substitutes –E–Expend considerable effort to obtain –A–Available at only a few outlets –V–Very low turnover and very high margin Signature Gibson, Les Paul Guitar
CLASSIFYING CONSUMER PRODUCTS Unsought –Purchased to solve an unexpected problem –Not at all planned Replacement tire
MARKETINGGOLDENCHAPTER 11 PRODUCT MIX Item: Specific version of a product (Bud). Line: Group of closely related items (AB’s Beer Line includes Bud, Bud Lite, Bud Dry, Busch, etc.). Mix: Organization’s entire array of products. Width: Number of lines in mix. Depth: Number of items in any line.
PRODUCT LIFE CYCLE Used as a guide to help management make strategic marketing decisions. It is the typical cycle that most products follow. 1.Introduction 2.Growth 3.Maturity 4.Decline