Snappy Fun is a new brand of chewing gum. The company knows product location is very important since consumers want to buy this type of product with a minimum of effort. Snappy Fun represents a(n)
The correct answer and explanation is:
Snappy Fun represents a(n) Convenience product.
Explanation:
Snappy Fun chewing gum fits the definition of a convenience product. Convenience products are consumer goods that customers typically buy frequently, immediately, and with a minimum of comparison and buying effort. They are usually low-priced and purchased regularly.
The key characteristic highlighted in the prompt is that consumers want to buy this type of product with “a minimum of effort.” This is the defining trait of a convenience good. People don’t spend significant time or effort researching or comparing different brands of chewing gum. The purchase is often routine, habitual, or even impulsive, happening when the consumer sees the product at a convenient location.
Because consumers are unwilling to expend much effort to find chewing gum, the product location is paramount. Snappy Fun must be easily accessible wherever potential customers might be. This necessitates an intensive distribution strategy, which means stocking the product in as many outlets as possible. This includes supermarkets, convenience stores, gas stations, drugstores, vending machines, and even places like newsstands or restaurant exits. The goal is to ensure that when a consumer feels the impulse to buy gum, Snappy Fun is readily available right there, requiring minimal time or travel.
Therefore, Snappy Fun’s nature as a convenience product directly dictates its distribution strategy and emphasizes the critical importance of product location to cater to the consumer’s demand for minimal purchase effort.