Product classification can be broadly categorized into several types: consumer products, industrial products, and services. Consumer products are further divided into convenience, shopping, specialty, and unsought products, each with distinct purchasing behaviors and marketing approaches. Industrial products, on the other hand, include materials, capital goods, and supplies used in production.
Understanding these classifications allows marketers to develop tailored marketing strategies that resonate with different audiences. For instance, while convenience products require quick and frequent purchases, specialty products often involve more extensive decision-making processes. This nuanced understanding of product types enables businesses to create more effective marketing campaigns.