Characteristics of Shopping Products, Specialty Products and Convenience Products
The important characteristics of shopping products are as below:
- The shopping products are usually of resilient nature, i.e., they usually endure many uses;
- The unit price as well as profit margin of shopping products is usually high;
- As these products have high unit cost, consumers evaluate the products of diverse companies before making selection;
- Purchases of shopping products are usually pre-planned and there is small degree of impulse buying in these products;
- Retailers generally play an important role in the sale of shopping products as lot of persuasive effort is needed to convince the buyers to purchase them.
Some of the important characteristics of the specialty products may be summed up as follows:
- The demand for specialty products is partial as moderately little numbers of people purchase these products;
- These products are normally expensive and their unit cost is very high;
- These products are obtainable for sale at few places as the number of consumers is little and are eager to take additional efforts in the buy of these products;
- A forceful promotion is necessary for the sale of specialty products, in order to notify people about their accessibility, features, etc.
- After sales services are very significant for many of the specialty products.
Some of the significant characteristics of Convenience Products are:
- These products are purchased at well-situated locations, with slightest efforts and time;
- Convenience products have a usual and constant demand, as these usually comes under the class of vital products;
- These products have little unit of buy and low prices. Like eggs; pens glasses etc.
- Convenience products have consistent cost as most of these products are recognized products;
- The opposition in these products is high as the supply is larger than the demand. The marketers have, therefore, to closely promote for these products.