Examples of shopping goods in the following topics:
- Discuss the characteristics of shopping products as a specific type of product
Convenience goods are those that require little effort on the part of the buyer, while shopping goods require research and comparison.
- Cars, houses and laptops are all examples of shopping goods.
- In this section, we will differentiate between convenience and shopping goods.
- Shopping goods do not necessarily have to be distributed widely.
- An example of a shopping good is a car.
- convenience good (noun) a good that requires a minimum amount of effort on the part of the consumer.
- shopping good (noun) goods that consumers will want to be able to compare and contrast with others before they make a purchasing decision.
- Line pricing is beneficial to customers because they want and expect a wide assortment of goods, particularly shopping goods.
- Traditional five and dime stores followed a line pricing strategy, where all goods were either 5 cents or 10 cents.
- Customers want and expect a wide assortment of goods, particularly shopping goods.
- basing-point pricing (noun) goods shipped from a designated city are charged the same amount
- product line pricing (noun) the practice of charging different amount for goods or services that are variations on a base good or service
- shopping goods (noun) Goods that require more thought and comparison than convenience goods.
Consumers compare multiple attributes such as price, style, quality, and features.
- Some goods may be considered shopping goods by some buyers, and specialty goods by other buyers.
- Specialty goods represent the third product classification (after convenience and shopping goods).
- If consumers shop at a store even if they have to go considerably out of their way to get there, it would be considered a speciality store that sells specialty goods.
- Whether a good is a shopping or a speciality good depends on the consumer's socioeconomic background.
- Speciality goods have higher profit margins and higher prices relative to convenience or shopping goods.
- specialty good (noun) Products that are considered so unique by the consumer that they will go to any length to seek out and purchase them.
- As opposed to convenience, shopping, and luxury goods, consumers do not actively seek out unsought goods.
- Unsought Goods are goods that the consumer does not know about or does not normally think of buying.
- Once the consumer is well-educated about the product, the good goes on to become a sought good.
- Even though it is a classic example of an unsought good, it is quickly growing into a sought good.
- This was to prevent the good from becoming an unsought good.
- Unsought good (noun) Goods that a consumer does not seek out, but purchases out of fear, precaution, or need.
- Distinguish between the different types of business products
Business products are sold to other businesses, as opposed to convenience, shopping, and specialty products, which are sold to consumers.
- Business products are marketed differently than convenience, shopping and specialty products, due to their different nature as well as the different nature of the prospective buyers.
- These are goods that are sold to other businesses, and used to produce other goods.
- The demands for manufactured industrial goods are usually derived from the demands for ultimate consumer goods.
- There are a number of specific types of manufactured industrial goods.
- Retail shops connect customers and products
Retailing helps to fulfill all types of needs; some essential to economic and personal survival, others recreational and luxury oriented.
- Though referred to by a number of different labels throughout the globe, the pawn or second hand shop is a staple of most communities.
- Retailing second hand or used goods, it enables consumers to purchase goods at deeply discounted prices or to borrow against and using the value of the product as collateral against a cash loan.
- In most cases the price paid for the goods or the goods donated are often recognized as a tax-deductible item.
- E Bay changed the way second hand goods are sold and bought
Anchor Stores in Malls and shopping centers draw customer dollars
- retailer (noun) purchases goods or products in large quantities from manufacturers directly or through a wholesale, and then sells smaller quantities to the consumer for a profit.
- People in the same social class tend to have similar attitudes, live in similar neighborhoods, dress alike, and shop at the same type of stores.
- Generally, the rich have the ability to purchase more consumer goods than those with less income, and those goods are of higher quality .
- There is also a distinction in the type of goods purchased.
- For example, the upper class tend to be the primary buyers of fine jewelry and often shop at exclusive retailers.
- Material goods often take on major symbolic meaning for this group.
- Clearly, without the existence of people or businesses to buy and consume goods, services, and ideas, there would be little reason for marketing.
- More and more consumers are shopping online, rather than traditional (and physical outlets) such as stores and shopping malls.
- Common practices in the competition between firms (such as supermarkets and other stores) include the following: traditional advertising and marketing, store loyalty cards, banking and other services (including travel insurance), in-store chemists and post offices, home delivery systems, discounted petrol at hypermarkets, extension of opening hours (24 hour shopping), innovative use of technology for shoppers including self-scanning, and internet shopping services.
- Amazon.com makes shopping and researching products, prices, and seller reliability quick and easy for its customers.
- For example, brand-name goods often sell more units than do their generic counterparts, despite usually being more expensive.
- Translate the meaning of the EDLP (everyday low price) pricing strategy
Everyday low price is a pricing strategy offering consumers a low price without having to wait for sale price events or comparison shopping.
- Everyday low price (EDLP) is a pricing strategy promising consumers a low price without the need to wait for sale price events or comparison shopping.
- supermarket (noun) a large self-service store that sells groceries and, usually, medications, household goods and/or clothing