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What are Tools of Product Differentiation?
Product Classification or Tools of Product Differentiation:
As products have many tangible and intangible attributes so products should be consider in identifiable groups, formally using a classification pattern which aids marketing planning.
Tools of Product Differentiation
Consumer goods are additionally divided in four groups that are describes as under: convenience goods, shopping goods and speciality goods.
i. Convenience Goods: These are generally inexpensive items.
ii. Shopping Goods: Shopping goods comprises durable and semi durable items.
iii. Speciality Goods: Consumers of area goods pay for prestige and also product itself. For example: Jewelly, branded designer, clothes and watches.
iv. Unsought Goods: The customer not taken as these goods before made conscious of them or goods that are unaware.
Open 'Cover: Open Cover is an insurance arrangement designed specifically to the need of those firms which have substantial import/export turnover and frequent transactions. Such
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