Convenience Products Henry 2011 defines this class as the products that

Convenience products henry 2011 defines this class as

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Convenience Products-Henry, (2011) defines this class as the products that customers seek frequently. This is because these products have been embedded in the daily routine of the consumers. As such, consumers do not have any obligation to invest heavily mentally or physically to shop for products in this class. Most of the products will be perishable and inexpensive. They will include products such as vegetables, medicine or soap. Companies that deal with convenience products should engage in rampant showcasing and distribution to capture a big market share to gain competitive advantage (Boone & Kurtz, 2011). Shopping Products-In this class, comparison of different products by the consumer is key. In this, a consumer considers factors such as quality, price or value of the various products in the market. Jin & Liu (2016) notes that shopping products tend to be more expensive than the convenience products. As such, before getting a shopping product, a consumer will tend to do prior planning. The products in this class will be durable and will include objects such as electronic appliances, furniture or even clothing. Firms in this niche will tend to engage in strategies such as advertising or even point of sale service to woo customers (Suh et al, 2018). Additionally, tools such as coupons and discounts will be used to stimulate the choices of the consumer. Specialty Products-These are the products that have certain unique features which in turn makes them very costly. It is critical to note that the buyers of products in this class will not be tied down by factors such as money or time (Jin & Lin, 2018). The fact that they are relatively expensive to shopping products makes them be afforded by a few. Products will include automobiles, jewelry or even hotels. Aggressive marketing that highlights the differentiation values will work for firms dealing with products in this class (Suh et al, 2018). From the above, it is essential to note that the electronic food processor by Company G will be classified under the shopping products category. This is because the pricing is relatively high to that of convenience products. Moreover, it is durable. Consumers of this niche are also likely to engage in industry-comparisons that are based on factors such as quality, style, or price before making purchases. Besides, important features such as warranties or even discounts will be of high concern to the consumers before they make purchasing decisions. For Company G to command the market, it must be willing to engage in key strategies such as advertising and personal selling. The Target Market For this company to initiate its marketing plan, it should define its target market. Target market refers to the likely buyers of a product that is offered by a firm in a specific industry (Dibb & Simkin, 2016). To understand the target market, a firm must be willing to identify a group of consumers that can effectively solve their problems using their product. As such, it is ideal to
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  • Professor Obura Oluoch
  • Marketing

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