What are the characteristics of products

& how do marketers classify them ?

Product comprises of both tangible and intangible components.

Product Levels-Customer Value Hierarchy

CLASSIFICATION

OF PRODUCTS

I. DURABILITY AND

TANGIBILITY

I.1 NON

DURABLE

GOODS

I.2 DURABLE

GOODS

I.3 SERVICES

II. CONSUMER GOODS

CLASSIFICATION

II.1

CONVINENCE

GOODS

II.2

SHOPPING

GOODS

II.3

SPECIALITY

GOODS

II.4

UNSOUGHT

GOODS

III. INDUSTRIAL GOODS CLASSIFICATION

III.1 RAW

MATERIALS

III.2

MANUFACTURED

MATERIALS &

PARTS

III.3 CAPITAL

ITEMS

PROF. SAMEER MATHURIndian Institute Of Management, Lucknow

Professor in Marketingwww.IIMInternship.com

Created By;

SIDHANT PATINATIONAL INSTITUTE OF

TECHNOLOGY, ROURKELA

As an intern, under the guidance of,