Why product classification is essential for your marketing strategies?
Posted on Feb 07th 2021
Consumer Product Classification
Based on similarity to other brands and your customers' buying behavior, product classification can be divided into four categories. These categories help marketers target the right consumers based on their expectations. Also, it helps them implement more effective methods to facilitate customers.
Let’s dive into each category for more details:
1. Convenience Products
Convenience goods are the products that consumers repeatedly buy without any second thought. For instance, I go to the store and pick the same toothpaste brand without looking for a new taste. Once a consumer selects his brand of choice and does not switch unless he sees a reason. Soap, shampoo, toilet paper, and toothpaste are examples of such products.
To market this kind of product, you need to consider that many people will purchase these items hastily. Setting your items close to the checkout line at a store could be a smart thought for these items — which is the reason you will frequently discover candies and gum at the front of a store.
2. Shopping Products
Shopping products are commodities you probably consider when you hear the word "shopping." They may be higher-end things like vehicles or houses or more modest things like apparel and hardware.
Buyers regularly invest more energy directing examination, contrasting costs, and visiting with sales associates when they're hoping to buy shopping merchandise. These are more irregular purchases and usually are more significant and higher economic impact items contrasted with tissue or cleanser.
For example, while you will purchase bathroom tissue again and again for the rest of your life, you'll probably buy a house a couple of times during your whole life. What's more, since it's a costly and significant buy, you'll invest a decent measure of energy thinking on it, going to various open houses, talking with different retailers, and looking at the upsides and downsides of your last choice.
3. Specialty Products
A specialty product is like the only product in the market, and consumers do not need to compare with other brands like regular products. Here iPhone can be an example. Most smartphone users in the US purchase only iPhone. They would go to the same mobile company every time they need a new model. This might be due to the brand recognition and quality features that other mobile brands lack.
Thus, when you are selling a specialty product, you need to convince customers that your product is better than other brands. Instead, your company should focus on research and development to introduce new features consistently.
4. Unsought Products
Unsought products are those that consumers are not excited to purchase and don’t buy on impulses, such as fire extinguishers and life insurance.
When marketing an unsought product, you need to remind your consumers of this particular product and tell them it will leave them with a better security sense.