A-Z Popular Blog Marketing Search »
Product Marketing
 Advertisements
Related Guides
Product Management

Related Topics
Service Marketing

Marketing Experience

Product Culture

Product Metrics

Product Planning

Product SWOT

Product Examples

Product Market

Product Analysis

Product Development

105 Types of Product

 , updated on
A product is an offering of value that is sold on a market. These are traditionally physical things. However, it is increasingly common to refer to services and digital items that have no physical form as products. Products offer value to customers meaning that they fill a customer need and align to customer preferences. Products have several distinct types as follows:

Commodities

Commodities are goods that consumers and businesses view as undifferentiated. This means that they see no difference from one brand to the next such that they purchase based on price alone. Markets for commodities are extremely competitive. A basic level of quality is expected and there are no incentives for improving quality. Competing in a commodity market typically requires scale in order to achieve low costs.

Niche Products

Products that serve highly specific customer needs and preferences. Niche products are an important market for small firms that can often compete in this area by targeting customers who have specific tastes or needs. Large firms can and do pursue niche markets too with techniques such as customer segmentation. Technology such as mass customization may eventually allow large firms to customize every product for every customer.

Lifestyle Products

Goods that a customer views as part of their lifestyle or an expression of their identity. Lifestyle products are another important market for small firms as customers have strong preferences in this area and can be swayed away from large brands. Consumers can also be fiercely loyal to lifestyle brands that align to their way of life or personal image.

Fast Moving Consumer Goods (FMCG)

Supplies that are used up and regularly repurchased. Fast moving consumer goods are a high volume market that is dominated by businesses with scale and cost advantages. When consumers need to regularly repurchase things they tend to rely on brand recognition. Firms that dominate this industry advertise a lot and often do nothing more than try to associate a positive feeling with their brand.

Services

Services are a growing part of every advanced economy whereby people and businesses increasingly rely on services over products. For example, a streaming media service as opposed to buying physical media for movies and music. Services also include gigantic industries such as financial services, hospitality and travel.

Digital Products

Products that have no physical form such as an in-game item or digital movie stored in the cloud. These are essentially services that are sold as a convenient one-time purchase without recurring fees. In some cases, digital products are also downloaded locally as a one-time transaction.

Other Products

Additional types of products beyond those listed above.
An unsought Product is a product that has little or no demand. This can occur because the product is so innovative that customers don't understand it yet. This can also apply to products that fail to perk customer motivation such as prepaid funeral services.
A convenience product is an offering that makes the customer's life easier. Customers are often strongly motivated to save time and simplify purchases. Convenience products also include offerings that are labor saving, time saving or easy to use.
Complementary goods are products designed to add value to another product or service. This includes things that directly work with another firm's products such as an accessory for a mobile device.
Next: Examples of Products
More about products:
Brown Goods
Business Goods
Capital Goods
Club Goods
Commodities
Common Goods
Common Resources
Complementary Goods
Consumer Discretionary
Consumer Durables
Consumer Goods
Consumer Products
Consumer Staples
Digital Goods
Durable Goods
Economic Goods
Experience Goods
Fashion Goods
Final Goods
Finished Goods
FMCG
Goods & Services
Inferior Good
Information Good
Intangible Goods
Intermediate Goods
Knowledge Product
Luxury Goods
Market Goods
Merit Good
Natural Resources
Necessity Goods
Perfect Substitute
Public Goods
Search Good
Social Goods
Soft Goods
Sporting Goods
Substitute Good
Superior Goods
Supplies
Unsought Goods
Veblen Goods
Virtual Goods
White Goods
If you enjoyed this page, please consider bookmarking Simplicable.
 

Consumer Goods

The common types of consumer goods.

Consumer Products

The definition of consumer product with examples.

Product Category

The common types of product category.

Product Examples

A list of the common types of product with examples of each.

Marketing

A list of key marketing strategies.

Market Positioning

A list of common market positioning strategies.

Marketing Objectives

A list of common marketing objectives.

Marketing Risk

The common types of marketing risk.

Product Launch

The common elements of a product launch.

Customer Convenience

Common types of customer convenience.

Customer Marketing

The common types of customer marketing.

Authentic Marketing

A definition of authentic marketing with examples.

Market Size

The common types of market size.

Product Development

A guide to product development.

Marketability

The common types of marketability.

Proof Of Concept

The common types of proof of concept.

Market Development vs Product Development

The difference between market development and product development.

Product Risk

The common types of product risk.

Product Innovation

The basic types of product innovation.

Product Requirements

Common examples of product requirements.

Value Proposition

The common types of customer value proposition.
The most popular articles on Simplicable in the past day.

New Articles

Recent posts or updates on Simplicable.
Site Map