Consumer Packaged Goods
What are the four types of consumer products?
- Convenience: This type of consumer product is purchased routinely and involves very little thought. Think candy bars, toothpaste, a hairbrush, or a soda can. These types of CPG products often inspire brand loyalty.
- Shopping: A shopping product takes a bit more thought. This type of product requires a consumer to research and compare brands. There are two types of shopping products: homogeneous and heterogeneous. Homogeneous means two things that are alike. When trying to decide on a homogeneous product, price will be a big factor in your decision. Heterogeneous products can be quite different and require considerations other than price.
- Specialty: This type of product has unique qualities and is brand specific. In this case, customers not just looking for any product; they want a high-quality, luxury item with a specific reputation.
- Unsought: This type of product is either one that a consumer doesn't know exists or doesn't ever think about of buying. A new technology tool not yet on the market is an unsought product, as is a cemetery plot, both for different reasons.