A3

Products and services fall into two broad classes based on the tupes of consumers that use them

A - (1) Consumer Product

B - (2) Industrial Product

01. Consumer Product:- “Product bought by final consumer for personal consumption”

Its includes or consumer products divided into four classes.

i. Convenience product
ii. Shopping Product
iii. Specially Products
iv. Unsought Product

i) Convenience Product:-

Consumer product that the customer usually buyers frequently, immediately, and with a minimum of
comparison and buying effort consumer products can be divided further into staples, impulse
products, and emergency products.

Staples Products are those product that consumers buy on a regular basis, such as ketchup, tooth path
etc., impulse products are those product that purchased with little planning or search effort, such as
Candy bar, and magazine, emergency product is those when consumer need is urgent, e.g. umbrellas
during a rainstorm etc.

ii) Shopping Product

Consumer good that the consumer, in the process of selection and purchase, characteristically
compares as such bases as suitability, quality, price, and style. Example: Furniture, clothing, used
cars, major appliances and hotel and motel services.

iii) Specialty Products

Consumer product with unique characteristics or brand identification for which a significant group of
buyers is willing to make a special purchase effort. e.g. Specific brands and types of cars, high-
pricedphotographic equipment, designer clothes etc.

iv) Unsought Products:-

Unsought products are consumer products that the consumer either does not knows about or knows
about but does not normally think of buying.

Most major new inventions are unsought until the consumer become aware of them through
advertising. Classes example of know but unsought products and services are life insurance and blood
donations to the Red Cross.

B)Business Product

A product bought for resale, for making other products, or for use in a firm’s operation
Examples

Set out below are some suggested examples of products that are currently at different stages of the
product life-cycle:

INTRODUCTION GROWTH MATURITY DECLINE

Third generation mobile
Portable DVD Players Personal Computers Typewriters
phones
E-conferencing Email Faxes Handwritten letters
Breathable synthetic
All-in-one racing skin-suits Cotton t-shirts Shell Suits
fabrics
iris-based personal identity
Smart cards Credit cards Cheque books
cards