Certainly! Convenience products and shopping products are two types of consumer products, and they are differentiated primarily based on consumer buying habits, the effort expended during purchase, frequency of purchase, and how they are marketed. Here’s a breakdown of their differences:
Convenience Product: These are products that a customer buys frequently, immediately, and with minimal comparison and buying effort. Examples include everyday items such as bread, milk, or toothpaste.
Shopping Product: These are products that a customer feels are worth the time and effort to compare with competing products. Customers usually spend more time researching, comparing, and making decisions about these products. Examples include furniture, appliances, and electronics.
2. Purchase Frequency:
Convenience Product: Purchased frequently, often on impulse.
Shopping Product: Purchased less frequently. Consumers typically take time to make a decision.
3. Buying Effort:
Convenience Product: Minimal effort, with little to no comparison or information search.
Shopping Product: Significant effort in terms of research, comparison, and evaluation.
Convenience Product: Generally lower-priced.
Shopping Product: Often carry a higher price tag due to their nature and the value they offer.
Convenience Product: Widely available in various retail outlets, including supermarkets, convenience stores, and gas stations.
Shopping Product: Typically available in fewer outlets, like specialty stores or major appliance stores.
Convenience Product: Advertising is often done on a mass scale to stimulate primary demand. The focus might be on availability and recognition.
Shopping Product: Often advertised on the basis of features, performance, and specific benefits. Personal selling and relationship marketing are more prominent.
Convenience Product: Snacks, newspapers, soft drinks.
Shopping Product: Clothing, electronic gadgets, jewelry.
8. Brand Loyalty:
Convenience Product: Consumers might show brand loyalty, but they may also easily switch brands if their preferred choice isn’t available.
Shopping Product: Brand loyalty can be stronger due to the greater investment (both in terms of money and research effort) the consumer has made.
In the broader spectrum of consumer products, there are also “Specialty Products” (products with unique characteristics, where the buyer is willing to make special efforts to purchase, e.g., luxury cars or designer wear) and “Unsought Products” (products the consumer doesn’t necessarily think of buying, e.g., life insurance or funeral services).