Convenience Product

Posted in Marketing and Strategy Terms, Total Reads: 19831

Definition: Convenience Product

Convenience products are the products that are purchased by the consumers frequently and with minimum effort and thought. Hence, such convenience product purchases are also called as low involvement purchases. For buying these products, there is no planning required and these are purchased as a routine as it is useful to a very wide target market.

Depending upon the utility and situation, these products are classified as staple goods (staples), impulse goods and emergency goods. All these are discussed below as the different types of convenience products.

Convenience Product Types

These products are also known as convenience goods and are mostly available at all convenience stores. These can be classified into the following categories:

Staple products: Staple goods form the regular purchases for the consumer. Therefore, these are bought out of habit, without much thinking. For example: wheat, milk, sugar

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

Emergency products: Emergency goods 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.

Hence, this concludes the definition of Convenience Product along with its overview.

Browse the definition and meaning of more terms similar to Convenience Product. The Management Dictionary covers over 7000 business concepts from 6 categories.

Search & Explore : Management Dictionary

Share this Page on:
Facebook ShareTweetShare on Linkedin