The consumer product classification system for classification of products is a model commonly presented in most marketing principles textbooks. This model classifies as consumer products into one of four classes. Furthermore, product classification is on the basis of consumer goods or industrial goods. Consumer product’s four classes include convenience products, shopping products, specialty products, and unsought products. The key to success for convenience products is a strong brand and intensive distribution. The key marketing mix elements for shopping products include place mix and promotional mix. Specialty products rely on product mix. Lastly, the consumer product classification system for the classification of products we have unsought requires a promotional mix.
consumer product classification system for classification of products
CLASSIFICATION OF PRODUCTS BY MARKETERS
Apart from the consumer product classification system for the classification of products, marketers have had their traditional means. Marketers have traditionally classified products based on durability, tangibility, and use. Goods or products are either consumer goods or industrial goods. The production of consumer goods is for the personal use of the ultimate consumer. The production of industrial goods, on the other hand, is for industrial purposes. Goods such as typewriters and stationery, however, are both industrial and consumer goods. Consumer goods include convenience goods, shopping goods, specialty goods, impulse goods, and emergency goods. The classification of products for industrial goods includes raw materials, fabricating materials, installations, accessory equipment, supplies, and services.
classification of products by marketers
PRODUCT CLASSIFICATION FOR EITHER CONSUMER GOODS OR INDUSTRIAL GOODS
The consumer product classification system for the classification of products is not the only method of classification. In every part of the world, there are different systems of product classification. The classification of product concept consists of dividing products according to specific characteristics to form a structured portfolio. In general, manufacturers use an informal product classification system, but there are also many standardized methods of product classification. Examples of standardized methods of classification of products include the GS1 Global Product Classification and North American Product Classification System. Lastly, basic product classification can be made based on consumer goods or industrial goods.
product classification for either consumer goods or industrial goods
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