convenience good

Examples of convenience good in the following topics:

• Shopping Products

  • Convenience goods are those that require little effort on the part of the buyer, while shopping goods require research and comparison.
  • In this section, we will differentiate between convenience and shopping goods.
  • A convenience good is one that requires a minimum amount of effort on the part of the consumer.
  • Vending machines typically dispense convenience goods.
  • From the consumer's perspective, little time, planning, or effort go into buying convenience goods.

• Specialty Products

  • Specialty goods represent the third product classification (after convenience and shopping goods).
  • This classification system is based on the definition that convenience and speciality goods are both purchased with a predetermined pattern in mind.
  • In the case of the convenience good, the pattern is that the most accessible brand will be purchased.
  • For example, if the customer utilizes an outlet because it is the most accessible, it would be considered, for that customer at least, a convenience store.
  • Speciality goods have higher profit margins and higher prices relative to convenience or shopping goods.

• Distribution Centers vs. Direct Store Delivery

  • Furthermore, chains are able to attract many customers because of their convenient locations, made possible by their financial resources and expertise in selecting locations.
  • Online vendors, such as Amazon, or a good example of non-store retailers.
  • It is particularly useful with convenience goods.
  • The vast majority of all goods produced in an advanced economy have wholesaling involved in their marketing.
  • Warehousing - the receiving, storage, packaging, and the like necessary to maintain a stock of goods for the customers they service.

• Business Products

  • Business products are sold to other businesses, as opposed to convenience, shopping, and specialty products, which are sold to consumers.
  • These are goods that are sold to other businesses, and used to produce other goods.
  • The demands for manufactured industrial goods are usually derived from the demands for ultimate consumer goods.
  • There are a number of specific types of manufactured industrial goods.
  • These products are normally purchased as convenience products with a minimum of effort and evaluation.

• Defining Price

  • Price is both the money someone charges for a good or service and what the consumer is willing to give up to receive a good or service.
  • Price is the money charged for a good or service.
  • Bartering is an exchange of goods or services in return for goods or services.
  • That person is also willing to sacrifice choice for greater convenience.
  • Derived from a bartering system (exchanging goods of equal value), the monetary system of each society provides a more convient way to purchase goods and accumulate wealth.

• B2C Channels

  • A business-to-consumer market, or B2C, is the sale of goods and services from individuals or businesses to the end user.
  • The types of product features consumers desire include value, convenience, efficiency in operation, dependability in use, and/or improvement in earnings.
  • Sometimes known as "click-and-mortar," this channel is rapidly expanding, as more people use the Internet for purchases of both goods and information.

• Value of Retailing

  • Retailing goods or services goes back to the beginning of recorded history.
  • It creates jobs for the people who supply the raw materials and to factory workers who actually make the products, for the people transporting goods to the marketplace, the construction companies that build the stores and malls and for an entire service sector that maintains goods purchased by individuals.
  • Retailing second hand or used goods, it enables consumers to purchase goods at deeply discounted prices or to borrow against and using the value of the product as collateral against a cash loan.
  • In most cases the price paid for the goods or the goods donated are often recognized as a tax-deductible item.
  • E Bay changed the way second hand goods are sold and bought

• Determining Segmentation Variable(s)

  • Geography provides a convenient organizational framework.
  • Gender has historically been a good basis for market segmentation.
  • Measurements of demographic, personality, and attitudinal variables are convenient measurements of less conspicuous motivational factors.
  • Motives can be positive (convenience), or negative (fear of pain).

• Nonprice Competition

  • Non-price competition typically involves promotional expenditures (such as advertising, selling staff, the locations convenience, sales promotions, coupons, special orders, or free gifts), marketing research, new product development, and brand management costs.
  • For example, brand-name goods often sell more units than do their generic counterparts, despite usually being more expensive.

• Distribution Intensity

  • This strategy is commonly observed for more specialized goods that are carried through specialist dealers, such as brands of craft tools or large appliances .
  • This strategy is typical of luxury goods retailers such as Gucci .
  • Not only does it provide convenience and availability to consumers, it also increases their brand preference and loyalty.
  • Snack food is a good example of a product that is intensively distributed.