A consumer product is generally any tangible personal property for sale and that is used for personal, family, or household for non-business purposes. The determination whether a good is a consumer product requires a factual finding, on a case-by-case basis. This basis will vary from one jurisdiction to another.
for sale to a consumer for use in or around a permanent or temporary household or residence, a school, in recreation, or otherwise..
Right product at the right place, with the right price and at the right time is the number one business imperative of all consumer products companies. As markets become more complex and consumers become more demanding, marketing consumer products needs to go through a sea change. With this paradigm change, the need of the hour is to bring in processes and systems that are able to handle all the emerging challenges and also exploit market opportunities as they come up. This includes being able to act rapidly on strategic initiatives that are often driven by changing consumer, shopper, customer, supply chain and technology demands and their potential impact on profitability and growth.
- Decline in returns on Trade Spending
- Demand for rapid innovation and coordinated product introduction
- Profit Pressure due to rising input costs
- Concern about Food Safety and Traceability
- Growing demands on business value delivery from IT
- Appropriate retail execution models for emerging markets
- Increased retailer power and proliferation of private labels
- Supremacy in sourcing the best quality products
- State of the art technology to convert materials into superior products at competitive prices
- Stringent quality control with technically qualified experts
- Unique arrangements to make attractive labels at competitive prices to add value to your products
- Display boxes/shippers at attractive prices
- Compact packing with material of your choice
- Expert stuffing for quality of delivery and cost effectiveness
- 100% customer satisfaction
Categories of Consumer Products
- Convenience Products
These are products that appeal to a very large market segment. They are generally consumed regularly and purchased frequently. Examples include most household items such as food, cleaning products, and personal care products. Because of the high purchase volume, pricing per item tends to be relatively low and consumers often see little value in shopping around since additional effort yields minimal savings. From the marketer’s perspective the low price of convenience products means that profit per unit sold is very low. In order to make high profits marketers must sell in large volume. Consequently, marketers attempt to distribute these products in mass through as many retail outlets as possible.
- Shopping Products
These are products consumers purchase and consume on a less frequent schedule compared to convenience products. Consumers are willing to spend more time locating these products since they are relatively more expensive than convenience products and because these may possess additional psychological benefits for the purchaser, such as raising their perceived status level within their social group. Examples include many clothing products, personal services, electronic products, and household furnishings. Because consumers are purchasing less frequently and are willing to shop to locate these products, the target market is much smaller than that of convenience goods. Consequently, marketers often are more selective when choosing distribution outlets to sell their products.
- Specialty Products
These are products that tend to carry a high price tag relative to convenience and shopping products. Consumption may occur at about the same rate as shopping products but consumers are much more selective. In fact, in many cases consumers know in advance which product they prefer and will not shop to compare products. But they may shop at retailers that provide the best value. Examples include high-end luxury automobiles, expensive champagne, and celebrity hair care experts. The target markets are generally very small and outlets selling the products are very limited to the point of being exclusive.