MGTA05H3 Lecture Notes - Lecture 2: Communication Studies, Innovation Works, Takers
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MGTA05H3 Full Course Notes
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Buyers of industrial products: consumer products: products purchased by the end user, for personal use. They are marketed differently than consumer products as they are intended for different reasons: industrial goods are sold to a much smaller number of buyers. Convenience products: inexpensive consumer products which are purchased frequently and with little expenditure of time and effort: the key to marketing convenience products is that they must be inexpensive, easy to find and perform their function well, 2. Shopping products: moderately expensive and purchased infrequently causing consumers to spend time comparing features, benefits and price. 5: the key to selling shopping products is that they must offer good value in terms of the features that they offer, 3. He believes that when a business launches a new product, it needs to adopt different approaches to appeal to each category of consumer: 1. Innovators: small percentage of the population who actively want to be the first to try something new.
