Convenience products refer to those types of consumer products and services that consumers buy more frequently with minimum buying efforts and comparisons. These types of purchases are also known as low involvement purchases.
Convenience goods require almost little or no planning when the purchase is required, for example, sugar, milk, toothpaste, soap and hairbrush. These types of products have some brand loyal consumers because many time consumers want to use a certain brand, for example, a certain type of soda and chocolate bar.
Convenience Product Definition
Convenience product is “A consumer product that the customer usually buys frequently, immediately, and with a minimum of comparison and buying effort.”
Principles of Marketing
Mostly these products and services have low prices. To make a reasonable profit, companies try to sell a large volume to these products in the target market.
Convenience products normally require widespread distribution strategy and available at convenient locations like convenience stores, supermarkets, drug stores.
Consumers purchase these products in a routine that is why convenience products not required too much information in the ads. Marketers use mass promotion strategy that ensures and remind consumers about different deals and availability of these products.
Types of Convenience Products
These types of products are easily available on convenience stores and can be classified as Staple, Impulse and Emergency Products.
Staple products also known as staple goods or necessity goods are those products consumer purchases in routine. As the consumer purchased these products on regular basis, many buyers take little time and efforts in decision making process.
- Purchasing dairy products on a daily basis
- Vegetables and fruits preferably fresh
- Bread and Cereal like rice, maize, bread, sugar, wheat, oats
- Poultry, meat and fish
Impulse products are those types of consumer products that buyers purchase without any planning. When consumers enter a store or mall they don’t have any intention to buy it. The motivational factor behind purchasing impulse products is different forms of advertisements like radio and tv commercials.
- Perfumes and body spray near the cash counter
- Chocolate bar and candy when paying cash at the counter
- You like a magazine cover photo and buy it
Emergency products also emergency goods are purchased by customers in case of emergency. In many cases, consumers do some research when buying a product but in case of emergency products, they have no option left. These types of convenience products don’t have anything unique, but a certain situation makes it critical to purchase.
- A good example is a raincoat and umbrella when heavy rain starts suddenly
- When your mobile and laptop battery is dead you have no option but to purchase the new one on an emergency basis.