Classification of Product

Marketing S.S.S 1 First Term

WEEK 8

Classification of Product

Performance Objectives

Students should be able to explain:

      1. Meaning of product

      2. Classification of product

      3. Industrial goods

       4. Consumer goods

       5. Differences between goods and services

Content

1. Meaning of product

2. Classification of product

3. Industrial goods

4. Consumer goods

5. Differences between goods and services

Meaning of Product

A product could be defined or described as anything that can be offered to a market for attention, acquisition, use or consumption. It includes physical objects, services, personalities, places, organisations and ideas. Generally, a product refers to anything that can be offered to a market to satisfy a need or want.

Kotler (1994)…