CandleFocus Glossary Editor
Consumer goods, often referred to as final goods or just simply goods, are items that are purchased by consumers to meet their needs or wants. These goods can be categorized into three different types: durable goods, nondurable goods, and services.
Durable goods are items that have a longer life and can be used repeatedly. Examples of durable goods include furniture, electronics, appliances, and motor vehicles. Nondurable goods are items that have a shorter life and are used up quickly. Examples of nondurable goods include food items, clothing, and toiletry items. Services are intangible items that are purchased for the use of certain activities. Examples of services include banking, eating at a restaurant, and having a car wash.
Consumer goods are also categorized based on consumer behavior. They are typically marketed by type of good such as convenience products, shopping products, specialty items, and unsought products. Convenience products are basically the items that are needed in day-to-day life and are usually purchased on impulse because of familiarity. Examples of convenience products include milk, bread, and eggs. Shopping products are products that require more effort on the part of the consumer to research in order to make a purchase. Examples of shopping products include cars, furniture, and TVs.
Specialty items are either expensive or rare and require that customers have intention to buy them. Examples of specialty items include jewelry, watches, and antiques. Unsought products are items that customers don’t think they need, but once they see it or learn about it, they decide to purchase it. Examples of unsought products include life insurance, fire extinguishers, and smoke detectors.
In conclusion, consumer goods are goods sold directly to consumers to meet their wants and needs. Consumer goods can be classified into three separate types: durable goods, nondurable goods, and services. Additionally, consumer goods are categorized based on consumer behavior, such as convenience products, shopping products, specialty items, and unsought products. All of these types of goods and items are essential for any business.
Durable goods are items that have a longer life and can be used repeatedly. Examples of durable goods include furniture, electronics, appliances, and motor vehicles. Nondurable goods are items that have a shorter life and are used up quickly. Examples of nondurable goods include food items, clothing, and toiletry items. Services are intangible items that are purchased for the use of certain activities. Examples of services include banking, eating at a restaurant, and having a car wash.
Consumer goods are also categorized based on consumer behavior. They are typically marketed by type of good such as convenience products, shopping products, specialty items, and unsought products. Convenience products are basically the items that are needed in day-to-day life and are usually purchased on impulse because of familiarity. Examples of convenience products include milk, bread, and eggs. Shopping products are products that require more effort on the part of the consumer to research in order to make a purchase. Examples of shopping products include cars, furniture, and TVs.
Specialty items are either expensive or rare and require that customers have intention to buy them. Examples of specialty items include jewelry, watches, and antiques. Unsought products are items that customers don’t think they need, but once they see it or learn about it, they decide to purchase it. Examples of unsought products include life insurance, fire extinguishers, and smoke detectors.
In conclusion, consumer goods are goods sold directly to consumers to meet their wants and needs. Consumer goods can be classified into three separate types: durable goods, nondurable goods, and services. Additionally, consumer goods are categorized based on consumer behavior, such as convenience products, shopping products, specialty items, and unsought products. All of these types of goods and items are essential for any business.