Question: Of the 4 types of consumer products, which would Neuro Sonic be? Explain the 4Ps that relate to this product type & the typical consumer buying behavior associated with it. (Chapter 10)

4 types of consumer products:

Convenience product, shopping product, specialty product, unsought product and 4Ps (Promotion, Product, Price, Place)

Classification of Consumer Goods TYPE OF CONSUMER PRODUCT BASIS OF CONVENIENCE SHOPPING SPECIALTY UNSOUGHT COMPARISON PRODUCT PRODUCT PRODUCT PRODUCT Cameras, TVs. briefcases. Rolls-Royce cars, Rolex Burial insurance, thesaurus Product Toothpaste, cake mix, hand soap, ABM cash withdrawal airline tickets watches, heart surgery Price Relatively inexpensive Fairly expensive Usually very expensive Varies Widespread; many outlets Large number of selective Very limited Often limited Place (distribution) outlets Price, availability, and Differentiation from Uniqueness of brand and Awareness is essential Promotion awareness stressed competitors stressed status stressed Brand loyalty of Aware of brand but will Prefer specific brands but Very brand loyal; will not Will accept substitutes consumers accept substitutes will accept substitutes accept substitutes Purchase Frequent purchases; little time Infrequent purchases; Infrequent purchases; needs Very infrequent purchases; behaviour of and effort spent shopping needs much comparison extensive search and some comparison consumers shopping time decision time shoppingTYPE OF CONSUMER PRODUCT BASIS OF CONVENIENCE SHOPPING SPECIALTY UNSOUGHT COMPARISON PRODUCT PRODUCT PRODUCT PRODUCT Toothpaste, cake mix, hand Cameras, TVs, briefcases. Rolls-Royce cars, Rolex Product Burial insurance, thesaurus soap, ABM cash withdrawal airline tickets watches, heart surgery Price Relatively inexpensive Fairly expensive Usually very expensive Varies Widespread; many outlets Large number of selective Very limited Often limited Place (distribution) outlets Price, availability, and Differentiation from Uniqueness of brand and Awareness is essential Promotion awareness stressed competitors stressed status stressed Brand loyalty of Aware of brand but will Prefer specific brands but Very brand loyal; will not Will accept substitutes consumers accept substitutes will accept substitutes accept substitutes Purchase Frequent purchases; little time Infrequent purchases; Infrequent purchases; needs Very infrequent purchases, behaviour of and effort spent shopping needs much comparison extensive search and some comparison consumers shopping time decision time shopping