Product Classification

Different kinds of products are marketed in different ways. How products are classified tells us a lot about how they can be marketed. Product classification recognizes that people buy a product for various reasons. This is why it is said that a product is more than the sum of its physical attributes. A product classification also involves consideration of servicing, warranties, and delivery terms, as well as, the important image attributes of prestige, reputation, and perceived quality. In a product classification, buyer perceptions are just as important as the manufacturer’s specifications.

The most basic distinction is between consumer products and industrial products, because they are marketed in different ways.

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