Tag: Convenience products

What is Convenience Product? A convenience product is a product that consumers frequently purchase, is inexpensive, and with little effort and time. Consumers require convenience products on a regular basis and they usually have prior knowledge about the products as such they think less while picking the products. Examples of convenience products include foods, milk, salt, toothpaste, detergent, etc. These products are easily available in the markets, consumers can easily compare the products, and choose the convenience for them. Mostly these products are of low prices. As such, companies have to involve in mass production, mass promotion, and mass distribution. They place products in different locations to make it easy for consumers to buy the products. Consumers show little involvement in purchasing while buying convenience products as they purchase frequently. And, there are also different similar brands available as such consumers rarely compare the products. https://www.youtube.com/watch?v=lPhx-sWs0xc Characteristics of Convenience Product A convenience product is one of the types of consumer products and other includes shopping, specialty, and unsought products. The followings are its main features: Low Price - Usually, convenience products have low prices. These include the normal products people use regularly. Easy Availability - These products are easily available in different locations, retail stores, and shops as such consumers can easily buy from the place convenient to them. Consumable - Most convenience products are consumable in nature such as milk, rice, vegetables, etc. Frequently Purchased - These products are frequently purchased by consumers to meet their daily needs. High Competition - There is high competition in the selling of convenience products. Consumers have different product options available. Non-Durable - The life cycle of these products is for a short period as they are consumed and used immediately. 15 Examples of Convenience Products Let's look at the 15 most common convenience product examples: Bread Milk Eggs Toothpaste Soap Shampoo Detergent Rice Flour Cooking oil Bottled water Chewing gum Snacks (chips, cookies, etc.) Magazines Pain reliever tablets Related: What is Shopping Product? Types of Convenience Products Staples, impulse, and emergency are the three main types of convenience products. Staples Products These include the products that are low priced and consumers purchase most frequently or on a regular basis. They spend very little time and effort purchasing staples products. Examples of staple products include purchasing vegetables, fruits, dairy products, rice, flour, oil, etc. which consumers need on a regular basis. Impulse Products Impulse products are not necessary as staple products and are impulsive in nature. Consumers do not usually think of buying these products when they are shopping but they end up buying. For example, you may go to a store, buys grocery items, and while paying the bill you have left Rs. 3, you probably buy chocolate for this amount. It wasn't on your shopping list however you bought the chocolates. Buying impulse products is mainly influenced by advertisements. Examples of impulse products include cake, ice cream, chocolate, chewing gum, candy, magazines, newspapers, etc. Emergency Products Emergency products include products that are required to meet unexpected needs. Consumers usually do not think of buying emergency products but the situations force them to do that. For example, when you have a headache you need to buy a pain reliever pill, when you are walking on the street and suddenly rain starts you need to buy an umbrella, etc. Customers frequently don't have time to explore their best selection because they buy these things in times of emergency, so they instead opt for what is available where they are. Also Read: What is Actual Product? Strategies For Promoting Convenience Products Let's discuss some of the strategies following which you can promote convenience products. Since consumers do not spend much time and effort on buying these products. You must put an effort to ensure that consumers buy your convenience products. For this, you should consider the following five strategies. Mass Advertising Campaigns Use extensive advertising through multiple channels such as television, radio, social media, and billboards. Highlight the product’s availability, affordability, and convenience. Focus on catchy slogans, engaging visuals, and memorable jingles to make the product top-of-mind for consumers. Mass advertising creates awareness and builds brand recall, which is essential for products with low involvement purchasing behavior. In-Store Promotions Leverage in-store promotions such as discounts, buy-one-get-one-free offers, and product bundling. Use attractive packaging and point-of-sale displays at checkout counters to encourage impulse purchases. These promotions not only boost sales but also help introduce new customers to the product, solidifying its position in the convenience product market. Also Read: What is Augmented Product? Widespread Distribution Channels Ensure the product is available in a variety of locations such as supermarkets, convenience stores, pharmacies, and online platforms. Partner with retailers and distributors to stock the product in high-traffic areas. Accessibility is crucial for convenience products, so the wider the distribution, the more likely consumers will purchase them without hesitation. Sampling and Free Trials Offer free samples or trial-sized versions of the product to consumers in retail stores, public events, or through mail. Sampling allows customers to experience the product’s quality firsthand, increasing the likelihood of repeat purchases. This strategy is particularly effective for new brands trying to establish a presence in a competitive convenience product market. Loyalty Programs and Coupons Introduce loyalty programs where consumers can earn points for repeat purchases, redeemable for discounts or free products. Distribute coupons through newspapers, digital platforms, or in-store promotions. These incentives encourage repeat buying behavior and foster brand loyalty, which is essential in markets with numerous competing convenience product options. Also Learn About: What is Specialty Product?

Tag: Convenience products

Convenience Products – Definition, Features, Types, Examples, and Strategies

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