What Is a Convenience Product?
In the book Principles of Marketing, convenience products are described as a “product that the customer usually buys frequently, immediately, and with a minimum of comparison and buying effort.”
Convenience products usually have low prices, and to turn a decent profit, they have to be sold in large volumes.
Convenience products tend to have a widespread distribution strategy and are usually sold in outlets like supermarkets and malls.
What Are the Types of Convenience Products?
There are many different types of convenience products. Some of them are more obvious than others.
Some convenience products are food-based and include:
- Soft drinks
- Vegetables and fruits
These are often referred to as staple products.
Another type of convenience product are emergency products. Emergency products are purchased by consumers without any prior research because they’re needed immediately.
Some examples would be:
- An umbrella that needs to be purchased when there is a sudden downfall of rain
- A mobile battery when the consumer’s current one suddenly stops working
The third type of convenience product is often referred to as impulse products. Impulse products are items that the consumer didn’t intend to purchase when they entered the shop but may have been swayed to buy by advertisements or seeing the product on the shelf.
Examples of impulse products would be:
- Candy bars that you buy at checkout
- Magazines with attractive covers or headlines
- Perfumes that are displayed near the counter
Other convenience products aren’t so obvious; items that can be easily misplaced or lost can be classed as convenience products. These can include, but are not limited to:
- Power cords
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