The goods, which the consumers buy regularly with less effort, less expense and less time, are called convenience goods. Breads, tea, milk, cigarette, light drinks, sweets, medicines, newspapers, soap, toothpaste etc. are the examples of convenience goods. Consumers buy these type of goods conveniently and in shorter time. Such goods are used regularly. They need to be bought daily. Mostly, Convenience goods are found at convenient places. Their price is less and consumers know everything about them. Demand and supply of such goods are regular. In the lack of these goods, daily human life become difficult.
The consumers do not need to make purchase plan and decision to buy such goods. They can easily buy necessary amount of such goods at accessible retail shop. While buying convenience goods, generally the buyers do not compare price or quality. These type of goods are produced in bulk quantity on the basis of demand estimation. Intense competition takes place among producers to produce such goods. Alternative goods can be easily found in market. Generally convenience goods are of perishable nature. The consumers buy such goods regularly in small quantity.
The producers use long distribution channels to sell convenience goods. Mostly, such goods are sold through retailers. Selling such goods through several retail stores of daily consumer goods, increases total sales volume. But aggregate profit becomes low due to low per-unit price.
Advertisement of convenience goods should be made more aggressive. The producer should take responsibility for advertisement. Decoration and packaging is important for convenience products. Convenience goods can be sold with brand name.
Features Of Convenience Goods
Features Of Convenience Goods
1. No Purchase Plan
Consumers do not need to make purchase plan for convenience goods. Only little effort is made to buy such goods.
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2. Low Quantity
Consumers buy such goods in small quantity.
3. Purchase Frequency
Consumers buy convenience goods frequently and regularly.
4. Convenient Outlets
Convenient or accessible shop/place is very important for costumers to buy such goods. Convenience goods are sold from many retail shops.
5. Price And Quality Comparison
While buying convenience goods, consumers rarely compare price or quality.
6. Brand Loyalty
Consumers have more awareness of brand, but less brand loyalty.
