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    • I: Marketing and the marketing process
      • Definition: What is Marketing?
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        • Market Segmentation
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        • Differentiation and Positioning
          • Differentiation
          • Positioning
      • The Marketing Mix – The 4 Ps
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      • SWOT Analysis
      • Definition of Product and Service
    • II: Understanding the marketplace
      • The Macro Environment
      • The Buyer Black Box – Buyer’s Characteristics
      • The Buyer Decision Process
      • B2B Market Characteristics
      • Customer Lifetime Value
      • Customer Relationship Groups
    • III: Designing a marketing strategy
      • How to create a Marketing Plan – 8 Steps
      • The Consumer Product
        • Three Levels of Product
        • 4 Types of Consumer Products
        • Different Types of Consumer Products
      • Product Line and Product Mix Decisions
        • Individual Product Decisions
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        • The New Product Development Process
        • New Product Development Strategies
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        • What is a Price?
        • 3 Major Pricing Strategies
          • Customer Value-based Pricing
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        • Additional Pricing Considerations
          • New Product Pricing
          • Product Mix Pricing Strategies
          • Price Adjustment Strategies
          • Initiating price changes
      • Product Life Cycle (PLC)
        • Product Life Cycle Stages (PLC)
        • Product Life Cycle Strategies
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      • Characteristics of Services
    • Interesting
      • New View on Marketing
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      • How to write a good Marketing Plan
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Popular
The Macro Environment – Six Forces in the Environment of...
The New Product Development Process (NPD) – Obtain new Products
4 Types of Consumer Products and Marketing Considerations – Convenience,...
Three Levels of Product – Core Value, Actual Product, Augmented...
Characteristics of Services: What is a Service – And what...
Branding Decisions – 4 Brand Strategy Decisions to Build strong...
Product Mix decisions – Width, length, depth and consistency
Product Life Cycle Stages (PLC) – Managing the Product Life...
Characteristics of the Product Life Cycle Stages and their Marketing...
Cost-based Pricing – Pricing based on Costs
Categories of New Products – What is a New Product?
Market Segmentation Criteria – How to segment markets
Marketing-Insider
  • Home
  • Updates
  • Marketing Explained
    • I: Marketing and the marketing process
      • Definition: What is Marketing?
      • The Marketing Process
      • The 5 Marketing Concepts
      • The Marketing Strategy
        • Market Segmentation
        • Market Targeting
        • Differentiation and Positioning
          • Differentiation
          • Positioning
      • The Marketing Mix – The 4 Ps
      • Marketing Instruments
      • Portfolio Analysis: Boston Matrix
      • Portfolio Planning: Growth and Downsizing
      • SWOT Analysis
      • Definition of Product and Service
    • II: Understanding the marketplace
      • The Macro Environment
      • The Buyer Black Box – Buyer’s Characteristics
      • The Buyer Decision Process
      • B2B Market Characteristics
      • Customer Lifetime Value
      • Customer Relationship Groups
    • III: Designing a marketing strategy
      • How to create a Marketing Plan – 8 Steps
      • The Consumer Product
        • Three Levels of Product
        • 4 Types of Consumer Products
        • Different Types of Consumer Products
      • Product Line and Product Mix Decisions
        • Individual Product Decisions
        • Product Line Decisions
        • Product Mix Decisions
      • New Product Development (NPD)
        • The New Product Development Process
        • New Product Development Strategies
      • Pricing Strategies
        • What is a Price?
        • 3 Major Pricing Strategies
          • Customer Value-based Pricing
          • Cost-based Pricing
        • Additional Pricing Considerations
          • New Product Pricing
          • Product Mix Pricing Strategies
          • Price Adjustment Strategies
          • Initiating price changes
      • Product Life Cycle (PLC)
        • Product Life Cycle Stages (PLC)
        • Product Life Cycle Strategies
      • Branding Decisions
      • Characteristics of Services
    • Interesting
      • New View on Marketing
      • Next-Gen Marketing Tool: Virtual Reality
      • Advertising Evolution
      • The 5 Don’ts of Presentations
      • Successful Mobile Marketing
      • Why Most Marketing Strategies Fail
      • How to create a Marketing Plan – 8 Steps
      • How to write a good Marketing Plan
      • 5 Don’ts of LinkedIn
      • Using Social Media in Marketing
    • SEO
      • What is SEO?
      • How Search Engines work
      • How to do SEO?
      • SEO Rules for 2016
  • About Marketing-Insider
Monthly Archives

December 2018

    Most Important Consumer Product Characteristics - What is a Product?
    Marketing Explained

    Most Important Consumer Product Characteristics – What defines a Consumer Product?

    by Maximilian Claessens 28th December 2018
    written by Maximilian Claessens

    It is critical for businesses to make sure that they have good services and products to market. Obviously only then, they will be able to make their target audience purchase from them and eventually earn profits. 
    In order to develop products that provide value to consumers, it is important to understand the key consumer product characteristics. What are the criteria to think of when designing a new product? In the following, we will take a brief look at the most important consumer product characteristics.

    Key Consumer Product Characteristics 

    Understanding the most important consumer product characteristics is key to providing superior consumer value.

    These characteristics include the following points: 

    1. Physical Look: What does the product look like? One needs to be able to describe the product in terms of its physical criteria, including color, shape and size, in as much detail as possible. Obviously, this criterion must be altered depending on the product, and may only partly be applicable to services.

    2. Purpose: What is the purpose of the product, and what will it do? This should be as specific as possible because a potential consumer will need to know how the product adds value. In what way does this particular product make the life of the consumer easier, more fun, …?

    3. Craftsmanship: The product needs to be made well. It should be durable so that it will last. It should come with directions for use and warranty information, if applicable. A consumer will need this information to determine the total quality of the product.

    4. Price: The price of a product is very important. A consumer wants to get the very most for their money. A business needs to make sure that the price is fair if they want to get their share of the market. Once they figure out a decent price, they can work with sales, promotions and discounts in order to entice customers to buy from them. 

    5. Comparing criteria: A business should be able to tell their potential customers why their product is the best. It should try to find out as much as possible about competitors and be able to state clearly why the particular product is better than competitors’ offerings. This step is of crucial importance in order to shape the USP and communicate the superior value to consumers.

    Hiring Help for Shaping Consumer Product Characteristics 

    Sometimes, a business may need assistance in knowing how to describe and market the product. There are companies that specialise in helping businesses determine their consumer product characteristics.

    Having clearly defined consumer product characteristics for every single product is key to success in the marketplace. A business must know its own product in as much detail as possible from different angles. Likewise, it should know as much as possible about competing products in the marketplace. With good positioning and marketing, the business can communicate superior consumer value and reach more consumers.

    28th December 2018
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  • Marketing Explained

    Cutting Edge Marketing Automation Tools – How to automate Marketing ?

    by Maximilian Claessens 17th December 2018
    by Maximilian Claessens 17th December 2018

    Marketing has become 24/7/365, especially with Social Media websites. Consumers want more frequent, relevant and personalized content. Learn how the latest marketing automation tools can be used to keep your customers happy.

    1 FacebookTwitterPinterestLinkedinRedditWhatsappEmail
  • Marketing Explained

    Key Marketing Strategies for Startups – How to kickstart your business?

    by Maximilian Claessens 11th December 2018
    by Maximilian Claessens 11th December 2018

    Starting a new business can be an exciting, but also daunting experience. While your startup may be based on a great idea, and have a ton of potential, there are…

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Popular

  • 1

    The Macro Environment – Six Forces in the Environment of a Business

  • 2

    The New Product Development Process (NPD) – Obtain new Products

  • 3

    4 Types of Consumer Products and Marketing Considerations – Convenience, Shopping, Speciality and Unsought Products

  • Three Levels of Product – Core Value, Actual Product, Augmented Product

  • Characteristics of Services: What is a Service – And what makes it so special?

  • Branding Decisions – 4 Brand Strategy Decisions to Build strong Brands

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