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Assignment example - Luxury and convenience commodities
Finance & Accounting
Pages 4 (1004 words)
Week 6 Discussion Contents Contents 2 Luxury and Convenience Commodities 3 Management of Online Branding Activities for Luxury and Convenience Products 4 References 7 Luxury and Convenience Commodities The discussion commences from the identification of consumer goods in convenience and luxury categories…
Extract of sample
Now the building up of the habit to gain access to such convenience products happens to cite different alternatives or substitutes of such products to the consumer. The consumer of convenience products in addition to building up a relationship with the product category also tends to reflect a passion for a certain brand relating to the same. However in absence of the specific brand of such convenience product the consumer in the light of other possible alternatives tends to frequently switch over to other available brands. Hence the marketer of the brand of such convenience product needs to develop strategies to attract and sustain the consumers of such products in the global marketplace. The marketer needs to further understand that the total gamut of convenience products available in the marketplace can be generally sub-divided into three parts like Staple, Impulse and Emergency. Staple type of convenience products are refereed to such that tend to reflect a very large availability in the market like grocery commodities and even merchandises like petrol and diesel. Again Convenience products are categorized as being Impulse type where the consumers tend to get largely impulsive in gaining the same from market outlets. ...
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