StudentShare
Contact Us
Sign In / Sign Up for FREE
Search
Go to advanced search...

Product Classifications - Essay Example

Cite this document
Summary
In these categories, products that have similar attributes are placed together and this is done basing on the assumption that such products can be marketed similarly. …
Download full paper File format: .doc, available for editing
GRAB THE BEST PAPER98.8% of users find it useful
Product Classifications
Read Text Preview

Extract of sample "Product Classifications"

Download file to see previous pages

Organizational goods are those goods that firms purchase and use them to develop a final product. It includes office products, tools, equipment or parts that go into the final product. Raw materials and agricultural products are those goods that come directly into the earth not having gone through any human modification. Consumer goods are those goods that consumers are able to purchase and utilize them. The three main product classifications are further sub-divided into smaller categories for purposes of developing good market mixes.

For instance, consumer goods are subdivided into specialty goods, shopping goods and convenience goods. According to Peter and Donnelly (2011), a marketing manager can utilize a product classification scheme as an important analytical device to assist them in planning marketing programs and strategies. As noted above, product classifications are developed basing on the assumption that such products can be marketed similarly. From the developed product classifications, a marketing manager will be able to strategize on their marketing strategies to ensure that a marketing program covers products that require the same type of promotion and marketing channels.

This is to say that a product classification enables a marketing manager to device a marketing mix strategy. Goods under the same classification have similar attributes that make it possible to market them using a single marketing program or strategy. This is because such goods could either be destined for the same market or undergone the same degree of processing or transformation. These classifications are therefore important in enabling a marketing manager to place products appropriately when developing marketing strategies and marketing mixes.

...Download file to see next pages Read More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Product Classifications Essay Example | Topics and Well Written Essays - 750 words”, n.d.)
Product Classifications Essay Example | Topics and Well Written Essays - 750 words. Retrieved from https://studentshare.org/marketing/1579950-product-classifications
(Product Classifications Essay Example | Topics and Well Written Essays - 750 Words)
Product Classifications Essay Example | Topics and Well Written Essays - 750 Words. https://studentshare.org/marketing/1579950-product-classifications.
“Product Classifications Essay Example | Topics and Well Written Essays - 750 Words”, n.d. https://studentshare.org/marketing/1579950-product-classifications.
  • Cited: 0 times

CHECK THESE SAMPLES OF Product Classifications

Teaching Adult Learners

The students are taught the different Vitamin names and the corresponding food and other Product Classifications that will supply the human body's vitamin needs.... Teaching Adult Learners Roy Killen (2006) emphasized teaching strategy focuses on maximizing the current class hour to bring knowledge to the students....
3 Pages (750 words) Case Study

Evolutionary Trends to Transform Your Loyalty Strategy

The three Product Classifications are durability and tangibility, consumer goods, and industrial goods.... The telephone is an example of a product that follows Metcalf's law.... There are three dimensions that customers use to evaluate a product or service.... The three dimensions are service mix and quality, product features and quality, and price.... There are different levels of product's features, benefits, and quality....
4 Pages (1000 words) Essay

Yamaha Business Strategy Analysis

The examination of various businesses is one which can identify the strengths and weaknesses of the company while looking at ways in which the corporation can move forward.... hellip; The examination of various businesses is one which can identify the strengths and weaknesses of the company while looking at ways in which the corporation can move forward....
41 Pages (10250 words) Research Paper

NSA Information Security Standards

IPS and IDS classifications can protect the internal essential and physical technology from the external environment.... This standard articulates the measurement of nominal security needs for federal data and data classifications.... National Security Agency Institution Name Instructor Course Date The National Security Agency (NSA) is United States' cryptologic institution....
3 Pages (750 words) Research Paper

What is behind Amazon.com

Web has become a necessary tool of many institutions today.... The growth of internet commerce is more than a hundred percent and this is predicted to continue on for at least until 2005 (Burnham, 2001).... … What is behind Amazon.... om?... But until the present years, it is still continually grows in magnitude....
11 Pages (2750 words) Essay

E-Commerce Strategy for Sports Goods Retailer

Describing the Product Classifications have a important impact on clients' choices for purchasing on the Internet, and the value they designate to the Internet retailers' characteristics.... As Internet retail sales persist to enhance at a slower rate than expected, business practitioners and Internet practitioners alike are looking for the product kind that consumers will purchase from the Internet (Aspinwall, 2001).... The preferences of customers for shopping on the Internet may be based on the product type, which will in turn affected the need to acquire the information of product easily and at reasonable price....
5 Pages (1250 words) Essay

How to design fashion psychologically

This study “How to design fashion psychologically” seeks to identify how designer fashions in terms of clothing and accessories influence the women who wear them both physically and psychological in terms of their social status and sense of identity....  … The author states that clothing and accessories are a demonstration of people's feelings and perceptions, and the manner in which they hope to be perceived by others....
23 Pages (5750 words) Dissertation

A Method for Increasing Cost Estimates

As soon as the cost of the activities is known, the cost of each one of the activities is accredited to each one of the products to the degree that the product makes use of it.... … Is Activity Based Costing Fruitful For The Company?... method for increasing cost estimates in which the arrangement or project is diversified into distinct, quantifiable activities is known as Activity Based Costing (ABC)....
8 Pages (2000 words) Essay
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.
Contact Us