Final Project

Based on the types of consumers that use a companies products and services, products and services fall into two classes – Consumer products and industrial products. “Consumer products are products and services bought by final consumers for personal consumption.” p. 211 Marketing an Introduction Armstrong/Kotler. Company’s market products differently according to the way consumers buy them, such as, convenience products. Which is defined as a consumer product that customers usually buy frequently, immediately, and with a minimum of comparison and buying effort.  Or shopping products: A consumer product that the customer usually compares on such basses as suitability, quality, price, and style. There is also specialty products which are, consumer products with unique characteristics or brand identification for which a significant group of buyers is willing to make a special purchase effort. Lastly, there are unsought products. Defined as: A consumer product that the consumer either does not know about or knows about but does not normally think of buying. Industrial products are products bought by individuals and organizations for further processing or for use in conducting business. The distinction being based on the purpose for which the product is bought. “If a consumer buys a lawn mower for use around home, the lawn mower is a consumer product. If the same consumer buys the same lawn mower for use in a landscaping business, the lawn mower is an industrial product.”  p. 212 Marketing an Introduction Armstrong/Kotler. The three groups of industrial products and services include materials and parts, capital items, and supplies and services.  Industry uses manufactured materials, and parts and are sold directly to the industrial users. Branding and advertising tend to be less important than price and services for industry. Capitol items are defined as industrial products that aid in the buyer’s production or operation. Capitol items are things such as fixed equipment like forklifts, or buildings, desks, and escalators. Or, major purchases like office buildings or warehouses. Supplies and services are also in the industrial products group and they consist of things like office supplies, maintenance and repair services or consulting services or advertising, which are usually under contract.