The classification of goods—physical products— is essential to business because it provides a basis for determining the strategies needed to move them through the marketing system. The two main forms of classifications are consumer goods and industrial goods.

Consumer Goods

Consumer goods are goods that are bought from retail stores for personal, family, or household use. They are grouped into three subcategories on the basis of consumer buying habits: convenience goods, shopping goods, and specialty goods.

Consumer goods can also be differentiated on the basis of durability. Durable goods are products that have a long life, such as furniture and garden tools. Nondurable goods are those that are quickly used up, or worn out, or that become outdated, such as food, school supplies, and disposable cameras.

Convenience Goods Convenience goods are items that buyers want to buy with the least amount...