12 Types of Consumer Good

John Spacey, July 28, 2017

Consumer goods are tangible things that are sold to individuals as opposed to businesses. This includes products and assets that are enjoyed by people such as a swimming pool. It doesn't include services, although in a modern economy the distinction between products and services is often blurred. The following are common types of consumer goods.

Durable Goods

Products that last more than three years that can be used multiple times such as a camera.

Nondurable Goods

Things that last less than three years or that can only be used once such as an ice cream cone.

Private Goods

Things intended to be used by a limited number of people such as an apple that one person eats or a sofa that one family uses.

Club Goods

A resource that can be enjoyed by many people such as a theme park. Club goods have limited capacity and typically charge fees.

Public Goods

Resources that have great capacity relative to demand such that they can be enjoyed by all without constraint such as a beach. In many cases, public goods are free.

Convenience Goods

Products that people need to buy on a regular basis such that they tend to seek a convenience source. For example, bread that people buy from a neighborhood bakery.

Shopping Goods

Things that people tend to compare before buying such as fashion.

Specialty Goods

Things that people buy rarely and may put significant effort into researching and purchasing such as a wedding dress.

Unsought Goods

Products that have little demand for one reason or another. Innovative new products may be unsought goods until customers learn to appreciate them. For example, the microwave oven was an unsought good in the 1960s and 1970s until it finally took off in the 1980s.

Positional Goods

Goods that people value for their limited supply. This includes luxury products that limit supply by maintaining high prices. It also includes things that are inherently limited in supply such as gold. Positional goods are often used to display wealth as a form of social status.

Differentiated Goods

Products categories where customers see a difference in quality and value between different items. Most products fall into this category. For example, customers see a difference between low quality bicycle helmets and high quality helmets.

Commodity Goods

Commodities are product categories where customers see little difference between items and usually buy based on price. For example, corn is a commodity.

Overview: Consumer Goods
Type	Products
Definition	Tangible products that are sold primarily to individuals as opposed to businesses.
Related Concepts	Products » Product-as-a-Service » Durable Goods » Club Goods » Fast Moving Consumer Goods » Unsought Goods »