Product Classification Essay Example

wears and home furnishing.

Specialty goods are goods with unique characteristics or brand identification for which a sufficeint number of buyers are willing to make a special purchasing effort. They are mostly purchased by upper-class of society as they are expensive in nature. The goods don't come under the category of necessity rather they are purchased on the basis of personal preference or desire. Brand name, uniqueness and special features of an item are major attributes which attract customer attraction in buying them.

Examples of specialty products are: Antiques, jewelry and cars. Unsought goods are what consumers do not know about or do not normally think of buying. E. g smoke detectors. 3. Industrial goods classification. Materials and parts are goods that enter the manufacturer’s product completely. Raw materials can be farm products (wheat) or natural products (lumber). Farm products are sold through intermediaries; natural products are sold through long-term supply contracts, with price and delivery as key purchase factors.

Manufactured materials and parts are either component material (iron) or component parts (small motors); again, price and supplier reliability are important factors. Capital items are long-lasting goods that facilitate developing or managing the finished product, including installations (factories) and equipment (trucks), both sold through personal selling. Supplies and business services are short-lasting goods and services that facilitate developing or managing the finished product; these include maintenance and repair services and business advisory services.