Why classify consumer products?

Please note that this is one article on the consumer products classification system, which discusses why this classification system is helpful. There are also other articles on this website that discuss how products are classified and how the system guides marketing mix decisions – also please refer to Related Topics below. Most marketing textbooks will … Read more…

Consumer Products Classification System

The consumer products classification system is a model commonly presented in most marketing principles textbooks in the product mix chapter. This model classifies as consumer products into one of four classes, namely: Convenience products Shopping products Specialty products Unsought products There are numerous articles discussing the consumer products classification system on this website, please refer … Read more…

Customer Satisfaction Definition

Definitions of Customer Satisfaction A nice, easy-to-remember customer satisfaction definition is: Customer satisfaction is a consumer’s perception of how well an organization has delivered on their communicated value proposition. The key points to note about this definition are: Customer satisfaction is the perception of a consumer, It is primarily based on two top-level factors, namely … Read more…

Promotional Era example

  Marketing strategy in the promotional era Today most firms operate in line with the marketing concept or the societal marketing concept. However, if we go back in time, firms tended to operate with a sales and/or promotional focus. This video highlights Crocker Bank from 1970. It is taken from a documentary on the advertising … Read more…

The societal marketing concept

  The societal marketing concept builds upon the same philosophy as the marketing concept by adding the focus on giving back to the society by offering products or the business practices that will improve society overall. The marketing concept As the marketing concept is the basis of the societal marketing concept, it is worthwhile exploring … Read more…

About the production era

  Understanding the production concept Marketing textbooks usually describe five main eras, or philosophies, of how marketing evolved. The first accepted phase is the production era in marketing, which is based upon the assumption that consumers prefer available and affordable products. With this philosophy, broad distribution and cost leadership were winning strategy combinations. This concept … Read more…

About the Product era

  Understanding the product concept Following the production era of reduced production and distribution costs in order to deliver better value to consumers, firms had success with adopting a different philosophy – the product concept – which took the view that a good product will create its own market or consumers were willing to pay … Read more…