Unsought products are those which customers are not wanting or even doesn’t know initially and are not looking to buy them in normal circumstances. These are the products which are not included in ones necessary requirement and one can do without it.
These unsought products need lot of advertisement and awareness so that people start thinking of buying it. There is one more type of product known in the market called as “unfamiliar invention” which is similar to unsought product. The only difference is these products are not known to the customers and have very high degree of capacity to fulfill ones necessity.
In this article:
Unsought products usually has following common factors
1. New to market
2. Lack of product understanding
3. Less advertisement
4. Luxury products
5. New category creation
6. Low word of mouth
Once these factors start to get resolved, the unsought products start picking up in market and no longer remain unsought.
Many a times new products in market or new category of product start with being unsought products. For example tablet PCs when they were first launched or normal touch screen devices initially unsought products in late 2000s but quickly became sought products when they offered a lot of value to customers.
Insurance product; Microwave oven are some of the examples of unsought products which need heavy advertisement campaigns to generate awareness.
Hence, this concludes the definition of Unsought Products along with its overview.
This article has been researched & authored by the Business Concepts Team. It has been reviewed & published by the MBA Skool Team. The content on MBA Skool has been created for educational & academic purpose only.
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