When going to market, on the important aspects for success is understand your product type for proper market selection! In this episode we explore what these are and how map your products for success! For a detailed video, please see: https://youtu.be/v_5bcQ_R4X4 and be sure to visit us at: http://diy3dtech.com/ for more information and updates!

1. Biz Talk
101
Product
Types!
Copyright © 2019 www.DIY3DTech.com

2. Copyright © 2019 www.DIY3DTech.com
disclaimer
The information contained in this program / video is for general information
purposes only. The information is provided by DIY3DTech.com and while we
endeavor to keep the information up to date and correct, we make no
representations or warranties of any kind, express or implied, about the
completeness, accuracy, reliability, suitability or availability with respect to the
website or the information, products, services, or related graphics contained
on the website for any purpose. Any reliance you place on such information is
therefore strictly at your own risk.
In no event will we be liable for any loss or damage including without limitation,
indirect or consequential loss or damage, or any loss or damage whatsoever
arising from loss of data or profits arising out of, or in connection with, the use
of this program / video.

3. introduction:
“You’ve got to start with the customer
experience and work back toward the
technology – not the other way around”
Steve Jobs

4. Worth note, a consumer product is a product which is bought by the final consumers for personal
consumption yet not all consumer products are the same. This being the case we can classify
them into four different types being:
•Convenience products
•Shopping products
•Specialty products
•Unsought products
Each of the 4 product types all have differing characteristics that involve a different consumer
purchasing behavior. Meaning that the types of consumer products will differ in the way
consumers make their purchasing decision and, for that reason, each will have their own
marketing tact which is most effective.
Product types:

5. Convenience products:
Of the four types of consumer products covered, the convenience product is
purchased most frequently. A convenience product is a consumer product or service
that customers normally buy frequently, immediately and without great comparison
or buying effort. Examples include utility or novel purposed items which strike a
fancy in a moment. as convenience products are typically:
1. low-priced / quick sale
2. placed in many locations to make them
readily available
3. While utilitarian are more novel in design

6. Shopping products:
These products are ones which customers will usually compare on attributes such
as quality, price and style before selecting and purchasing. As the primary difference
between a convivence verses a shopping product is the later is usually less
frequently purchased while be more carefully compared. In sort, consumers will
spend both more time as well as effort to gather information and comparing
alternatives to each other. Types of products that fall within this category of products
are:
1. higher-priced / slower sale
2. placed in few place to create
scarcity
3. mixed novel & utilitarian in design

7. Specialty products:
These products are ones with unique characteristics or brand identification for
which a significant group of consumers is willing to make a special purchase
effort. Again these products will require a special purchase effort and typically
will only apply only to certain consumers. Typically these are special use or
application offerings:
1. Higher-priced / limited sales
potential
2. placed in few place to create
scarcity
3. extremely novel over utilitarian in
design

8. Unsought products:
These products are those products which a consumer either does not regular know
about or knows about yet does not consider buying under normal day to day
conditions. In short, these are products which consumers do not think about
normally, at least not until they need or want them. Most new innovations are
unsought until consumers become aware of them and carry the attributes of being:
1. moderate-priced / limited sales
potential
2. Requires selective placement
3. mixed novelty with utilitarian design
4. Could have a fade tipping point

9. Please submit your questions below for future episodes!