Convenience Product

Posted in Marketing and Strategy Terms, Total Reads: 9305
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Definition: Convenience Product

These are the products that are purchased by the consumers frequently and with minimum effort and thought. Hence, such purchases are also called as low involvement purchases. These can be classified into the following categories:

-          Staple products: These products form the regular purchases for the consumer. Therefore, these are bought out of habit, without much thinking. For example: Lux soap, Britannia Marie biscuits.

-          Impulse products: They are the goods purchased without any planning. For example: Chocolates, candies etc.

-          Emergency products: They are the goods produced when there is urgent need. For example: umbrellas, raincoats etc.

For all these categories, the consumer does not execute the full buying cycle.

 

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