Definition: Consumer products are a set of goods that are specifically designed for daily consumption within the household environment or routine activities. They are not bought for commercial purposes.
What Does Consumer Product Mean?
These items are categorized depending on their purpose as is the case for house cleaning, health care, skin care, food storage or dental care products or they could also be classified depending on their nature like soap, vinegar or oil. These classifications are important for companies to identify which market they are actually serving. Consumer products are bought with different frequencies depending on the individual or household dynamics and traditions.
Some people are used to buy them once per month and others do it on a weekly basis. This is also an important marketing element, since the frequency in which the products are bought is a key factor to consider what should be the size of the product. A big sized item normally serves a lower frequency and smaller sized presentations are usually aimed at higher frequency purchases.
This is also determined by the household budget, which is the amount of money available each month or year that is devoted to these purchases. Items such as tobacco are excluded from this concept.
Example
The O’Neill family is used to visit the supermarket at least twice a month. They are very loyal to certain brands that they purchase religiously each time they have to buy all the different products they need within their home. Among the most frequent consumer products they buy are deodorant, toilet paper, plastic bags, shaving cream and tooth paste.
They often purchase these items at a big supermarket that sells mid-sized presentations of each of the products they love. They are not used to visit big warehouses that sell bigger-sized presentations because their budget is not enough to cover such purchases.
