Types of Consumer Products & How to Sell Them

Marketers sell a variety of products. Here we discuss four specific types of products people see in the market. There are convenience products, like candy and toilet paper. There are specialty products such as brands people specifically search for. Shopping products that consumers compare and search for a lot of information on. Unsought products, these are products that consumers do not even realize they need.
Filmed in Prague, The Czech Republic
Copyright Mark Wolters 2019
#marketing #principlesofmarketing #prague
Dear Marketing Student, Entrepreneur, or Interested Person, I am Dr. Mark Wolters an Associate Teaching Professor in Business Administration and I have been teaching marketing and business courses around the world since 2002. I hope that these marketing & business videos can help you learn more about business and help you succeed in class or in the business world. And yes, this is the same Mark Wolters from the KZbin travel channel Wolters World.
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[@woltersworld]

First!!! And if you have marketing topics or KZbin questions you would like us to make videos on please let us know in the comments so we can develop more helpful videos.

[@tosht2515]

Ah, Kampa. Great spot for filming...the Charles Bridge and Tower look cool from this vantage point. Another fun video, Mark. 👍

[@ProfessorWolters]

Thanks Tosh. Trying to film a bunch of marketing videos while I am traveling to help make the videos a bit more interesting and hopefully help my students remember the information better

[@difense-waterproof3660]

I love this video!

[@ProfessorWolters]

Thanks

[@theghasynchroduck]

How do you narrow down a niche and determine your ideal customer/target market?

[@ProfessorWolters]

That is coming in our segmentation videos

[@dx5018]

The best line: "why do I need a mobile phone, I have a phone at home" 🤣🤣🤣

[@ProfessorWolters]

That is what people said back in the dark ages ;)

[@asamakarn]

1 Convenience Products 2 Specialty Products 3 Shopping Products 4 Unsought Products

[@szymonzielinski7160]

With special products, it is worth considering whether we definitely want to spend money on something that is often unnecessary for us. The best historical example is the tulip fever from the seventeenth century. Tulip bulbs cost more than homes in Amsterdam. Pure madness led to a speculative bubble. Mark, you are a specialist in economics. Currently, a trade war between the US and China is already leading to an economic slowdown in the world. Germany already has economic problems and certain brands may have problems with sales. I do not think you want to say anything about the current situation in the world for obvious reasons. Could you tell us more about trade wars from the past? We live in restless times and it is not worth spending money on luxury items if we do not have too much money. It is worth considering twice before buying something.

[@ProfessorWolters]

These are actually topics I will be speaking on this fall in new videos. Right now I am just putting more basic stuff out to give a foundation of information. The hope is I can make this channel a place where people can learn independent of politics and such.

[@szymonzielinski7160]

@@ProfessorWoltersI just see what's happening in the world. The Chinese have a plan to change the entire flow of capital called the "new silk route". For me, it's great news because, without my country, nothing can be done in Europe, and that means money. I'm just afraid that the commercial war can turn into a world war. It was the same with Great Britain and Germany in the late nineteenth and early twentieth century. The sanctions on Huawei will not change anything - the Chinese dragon woke up. Maybe then you will say something more about the "new silk route" from Uzbekistan or Istanbul. Will you tell me something about Mackinder's theory in autumn? This is about controlling trade routes and, consequently, controlling the world and new goods for sale.

[@ProfessorWolters]

I will touch on some issues you brought up but others are a bit beyond what I will covering on this channel. At least for the summer and fall.