0107

Problem

Consumer products are frequently classified as convenience, shopping, or specialty goods. This classification system is based on how consumers shop for particular products. Would this classification scheme apply equally well in the business marketing environment?

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Step 1/3

Business Marketing:

It involves marketing of products and services across the globe in huge quantities to government bodies, institutions and businesses. The corporate procurement involves major share in terms of the marketing. It witnesses a single buyer can account for enormous level of purchasing activity.

Step 2/3

Convenience products:

The companies engaged in contracts and are recommended for the modifications of the products according to the needs and usage of products.

Shopping goods:

High demanded products are placed in common shopping carts, which helps purchasing personnel to define and grab relevant goods.

Specific goods:

It also helps in creating awareness about specific products with its established brands and provides a channel for choosing and selection.

Step 3/3

The classification scheme would be equally applied in the business marketing environment as on the following reasons:

• As the marketing of products involves in huge quantities to the major concerns

• These products reflects the functioning of the organization

• The goods would be more specific as it involves huge quantity demand

• These involve discounts and offers in the business marketing

• It is also convenient as single buyer involves in huge transactions

The business marketing environment possess convenience, shopping and specialty goods in its business transactions like consumer products. The historical business records and analysis also proves this statement widely. It is explained below in brief:

Cost reduction:

Business to business commerce is more loyal comparing to business to customers.

Through contacts and agreements, It is engaged in large exchanges of goods and services and provide cost reduction and convenience at one gathering.