Prof. Copeland gives a following classification of ‘Goods’: 1. Consumer Goods: Consumer goods of different classes are discussed below: 1. Convenience Goods: Convenience Goods, usually of semi-durable nature, refer to those comparatively high value items which the customers buy after paying consideration as to quality, price, design, etc. The buying motives of the customers exhibit a high degree of differentiation [...]
The choice of an appropriate channel of distribution, as an important marketing decision, depends on a variety of considerations like nature and type of products, nature of services to be rendered, stability of production, costs involved, and the type of promotional efforts undertaken by the marketing management. So, the distribution channels to be employed should be different for consumer goods, [...]
In this article we will discuss about the concept of product mix and the factors influencing it. Concept of Product Mix: Product mix refers to the depth and width of product policy of a company. It is concerned with product diversity, i.e. how far a company can or should diversify its products. It is defined as "the composite of products [...]