What are fast-moving consumer goods?

What are fast-moving consumer goods? These are the products that individuals buy. From a marketing perspective, there are four types of fast-consuming consumer goods, and there are classifications and characteristics of consumer goods, so what are they? These are what we will mention in detail in the following lines on the website EnglishShop.

What are consumer goods?

They are products that are purchased for consumption and are not later used to produce other consumer goods.

It is called a final good because it ends up in the hands of the consumer or end user. When economists and statisticians calculate GDP.

They do it based on Consumer Goods. For example, microwave ovens, refrigerators, shirts, and washing machines.

They are used in contrast to intermediate goods in those intermediate goods to create the final consumer good.

Raw materials such as copper, coal, iron or other raw materials are not considered consumer goods because they are used to make a final consumer good.

For example, copper can be used to make copper trays, bowls, and other containers that are also consumer products.

What are fast-moving consumer goods?

We will mention in the following lines the types of consumer goods, which are fast-consuming goods:

Durable: Fast-consumed goods have a relatively long life, such as tools and various appliances of all types.

Non-durable: The useful life of this type is about three years, as well as foods and beverages packaged for consumption.

Services: This type of intangible goods includes various services such as consulting and cleaning services.

The difference between consumer goods and productive goods

Economic goods are divided into consumer goods and produced goods as follows:

Consumer Goods

In the following lines, we will discuss complete information about consumer goods:

1. Consumer goods directly meet human needs without the need for transformations such as bread and clothing.
2. They are all consumer goods because, when used, they satisfy the immediate needs of consumers.
3. Likewise, the services provided by hotels, retailers, barbers, etc. to consumers are consumer services.
4. Police departments, courts, public parks and public lighting are consumed by people in large numbers.
5. Consumer goods preserve the basic goal of the economy, i.e., maintaining consumption of the entire population of the economy.
6. It is known that humans must consume substances in order to survive and function.
7. It is the consumption of the basic necessities of life, food, clothing and shelter that makes us work.
8. Consumer goods are classified into durable and non-durable goods.
9. Durable goods are those that can be used for consumption again and again over a long period of time.
10. Non-durable goods such as single-use goods that a company's consumers use for consumption.

Goods produced

As for production goods, they are goods purchased by institutions and intended for industrial projects to assist in production or to achieve savings in the production process, that is, they are not supplied to the final consumer. Therefore, they are not suitable for directly meeting human needs. But it contributes to the production of consumer goods. For example land, machinery and raw materials. Such as “factories, heavy equipment, basic equipment, and heavy machinery.” These products are characterized by the following:

1. Purchased according to advance plan.
2. A large number of civil servants are involved in issuing the procurement decision.
3. These goods are consumed after a long period of time.
4. The number of buyers is relatively limited.
5. Its financial value is very high.

The difference between consumer goods and industrial goods

In the following lines, we will mention the difference between consumer goods and industrial goods in detail as follows:

• The difference between consumer goods and industrial goods is clear. Industrial goods are the basis of the production of consumer goods.
• As for fast-consuming goods, the products are ready for human consumption and use in various fields.
• Industrial goods are the basis in the commercial and industrial fields.
• It boils down to factories that manufacture and transform from one form to another, such as factories for electronic gadgets and bicycles.
• For example. In contrast, consumer goods are short-lived in their final state, such as ready-made clothing and food.
• If we compare the number of consumers of consumer goods and the number of consumers of industrial goods, the weight of consumer goods will be higher.
• The demand for these two products is different, so it is directed directly to the consumer, while for the industrial product, it is released in large quantities on the market.

Characteristics of consumer goods

Key features of these products include:

1. Buy often.
2. Available in abundance.
3. Its price is relatively low.
4. Not permanent.

in the endIn today's article, we talked about fast-consuming goods, and we mentioned the features of these goods and their components, the consumer's view of them, and their characteristics in terms of their availability, price, and duration of their presence in the markets. We mentioned the difference between consumer goods and industrial goods, and we also mentioned the difference between consumer goods and productive goods. We hope that we have provided useful information. To you, our dear visitors.