Download Life Cycle of Products

Chpt 21 – Nature and Scope of Marketing
Types of Consumer Products
Industrial Good – products designed for use by another business; purchased in large quantities,
made to special order for a specific customer; many industrial goods are used to produce other
products or are incorporated into the products being purchased
Consumer goods – products designed for personal or home use
Four categories
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Convenience Goods – inexpensive items; purchase regularly w/o great deal of thought
Shopping Goods – purchase less frequently than convenience goods; higher price, require
some buying thoughts
Specialty Goods – products that customers insist upon having and are willing to search for
until they find them
Unsought Goods – customers do not shop for some products because they do not have a
strong need for them; present a difficult marketing problem; company making such goods
have to usually go to the customer and use personal selling to discuss the need for the
product
Millions of businesses worldwide engage in marketing – some these organizations include retailers
and wholesalers
Retailers – businesses that sell directly o final consumers
Wholesalers – businesses that buy products from businesses and sell them to other businesses.
Marketing Activities:
Buying, Selling, Transporting, Storing, Financing, Researching, Risk taking, Grading and valuing.
Assignment
1. Review the types on consumer goods. Give two examples of industrial goods and give two
examples of each type of consumer goods (there will be 8)
2. Give two examples of retailers and two examples of wholesalers
3. Give a brief explanation of each marketing activity (pg. 547) or listed above.