Types of Product and Service in Marketing Management

There are different types of goods in the market and when planning and developing a product, it is important to take these types into account. This is due to the simple fact that different type of goods are bought at different times and for various reasons.

You have to take into account the purpose of your product and what it will be used for as these will translate into the reason why the customer will buy our product and when they will buy it. The types of goods in today’s market are: convenience goods, shopping goods and specialty goods.

Convenience Goods
Convenience goods are those that customer buy without putting a lot of thought into the decision to buy them. This is mainly because the customer already has all the information they need on the product before they go out to buy it. The customer is not really looking to go out and get more information on the product and will opt to taking a substitute of the product as opposed to having to visit more than one store looking for that product. Continue reading

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