Classification of Consumer Goods

Consumer goods are goods that are purchased by the end-user for personal consumption. The classification of consumer goods is important in the field of marketing and is based on the customer's buying behavior, the frequency of purchase and the level of customer involvement.

1. Convenience goods: Convenience goods are the goods that are easily available and are purchased frequently. They require low involvement of the customer and are usually purchased for immediate consumption. Examples of convenience goods are bread, soft drinks, etc.
   
   
2. Shopping goods: Shopping goods are the goods that require more effort from the customer in terms of time, money, and effort. The customer is more involved in the buying process and compares different products before making a purchase. Examples of shopping goods are clothes, appliances, etc.
   
   
3. Specialty goods: Specialty goods are the goods that are unique and are not easily available. The customer is highly involved in the buying process and is willing to pay a premium price for the product. Examples of specialty goods are luxury goods, designer clothes, etc.
   
   
4. Unsought goods: Unsought goods are the goods that the customer may not know about or may not be actively searching for. They are usually purchased in response to an advertisement or as a result of some other marketing effort. Examples of unsought goods are life insurance, funeral services, etc.
   
   
5. Industrial or Business goods: Industrial or business goods are goods that are used in the production of other goods and services. They are not intended for personal consumption. Examples of industrial or business goods are machinery, raw materials, etc.
   
   

In conclusion, the classification of consumer goods is important for companies to understand their target market, customer behavior, and marketing strategies. This information can be used to create effective marketing campaigns and increase the sales of the company's products.