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Consumer Goods ClassificationTweet
Consumer goods are products which are purchased for personal consumption. Consumer goods are classified into three areas.. These are:
Convenience Goods
Convenience products are inexpensive frequent purchases, there is little effort needed to purchase them. Examples may include fast food and confectionery products. Convenience products are split into staples, such as milk, eggs and emergency products which are purchased when the need arises e.g. Umbrellas.
Shopping goods
Shopping goods are usually high risk products where consumers like to shop around to find the best features and price for that product.. Examples include buying fridges, freezers or washing machines.
Specialty Goods
There are products that are purchased infrequently. The consumers will conduct extensive research to make sure that their purchase decision is right, because specialty goods are expensive and infrequent purchases. The organization will support the product with an extensive warranty package. Examples include watches and diamonds. There are usually little or no substitutes for these products.
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