Product category marketing is a very broad concept involving a lot of scientific principles which helps to provide the necessary purchasing decision to the buyer and the profitability to the retailer at large. Consumer products are classified into 4 groups which are related to different types of buying decisions. The major categories are as follows
- Convenience products
- Shopping products
- Specialty Products
- Unsought Products
These are the products which are generally inexpensive and require minimum efforts on part of the consumer to select & purchase it. Some common examples are bread, soft drinks, pain reliever, Coffee etc. Products like headphones, power cords etc which are easily misplaced is also included in this category.
In this product category marketing, a very little time is involved in the planning for buying these goods as these are specially convenience products. Often purchases are made on impulse and hence the availability of these products is of prime importance. These products often have an easy online purchase option and more over the costs are really low. The primary marketing strategy of these types of products is extensive distribution. Market competition being high a high level of brand awareness & branding recognition is essential.
Product comparison is the most important aspect when it comes to shopping products. These products are generally expensive. In these products the customer likely compares number of options to assess quality, cost & features.
Shopping goods are highly advertised in the market as a part of the marketing strategy but the way the retailer positions these products as per the competition ensures a better sale value. It all depends on the value add the retailer offers to its customer that will influence his buying decisions.
Further these are classified into homogenous & heterogeneous. Heterogeneous shopping products are unique in nature whereas homogenous products are more or less similar in nature for eg: Refrigerators.
Specialty goods represent the 3rd category of product classification. These products are absolutely unique in nature and the customer with the appetite would go to any lengths to find & purchase them. Although these products may be a custom made or a very item, marketers have to make it successful to differentiate the product in the minds of the consumer.
For eg: Some people would have a fixation to visit a particular high end hair stylist which could mean waiting for the appointment for that particular stylist which is unique. It is generally desirable for a marketer to lift her product from the shopping to the specialty class-and keep it there. With the exception of price-cutting, the entire range of marketing activities is needed to accomplish this.
Unsought products are those products which a customer never plans to buy or hopes to buy. This may be because the customer is not aware whether the product ever exists and hopes he is not in need of these.
Unsought products tend to follow a very aggressive sales strategy so that the attention of the buyer is sought and purchase of that product is made.
So considering the following points we really need to have a clear understanding the product type we offer so that the best product marketing strategy could be established for the betterment of customer sales & retailer development.