Definition of Convenience Goods
Convenience goods are consumer items bought often, immediately, and with little thought. They are characterized by widespread distribution for easy purchase at an expected cost.
Features and Classification of Convenience Goods
Convenience goods have frequent purchase habits and low to moderate pricing, making them affordable staples. They require minimal shopping effort and are sold in high volume through mass promotion. Examples include staples, impulse purchases, and emergency items.
Types and Strategies of Convenience Products
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Types of Convenience Products:
- Staple products bought routinely like food
- Impulse products bought spontaneously
- Emergency products needed urgently
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Strategies for Convenience Goods:
- Widespread distribution
- Convenient locations like stores and supermarkets
- Prior consumer knowledge reducing the need for extensive advertising efforts
- Mass promotion to remind consumers of availability and deals.