Unsought Goods are

goods In economics, goods are items that satisfy human wants and provide utility, for example, to a consumer making a purchase of a satisfying product. A common distinction is made between goods which are transferable, and services, which are not tran ...

that the

consumer A consumer is a person or a group who intends to order, or uses purchased goods, products, or services primarily for personal, social, family, household and similar needs, who is not directly related to entrepreneurial or business activities. T ...

does not know about or does not normally think of buying, and the purchase of which arises due to danger or the fear of danger and lack of desire. The classic examples of known but unsought goods are

funeral service A funeral is a ceremony connected with the final disposition of a corpse, such as a burial or cremation, with the attendant observances. Funerary customs comprise the complex of beliefs and practices used by a culture to remember and respect th ...

encyclopedia An encyclopedia (American English) or encyclopædia (British English) is a reference work or compendium providing summaries of knowledge either general or special to a particular field or discipline. Encyclopedias are divided into articles ...

fire extinguisher A fire extinguisher is a handheld active fire protection device usually filled with a dry or wet chemical used to extinguish or control small fires, often in emergencies. It is not intended for use on an out-of-control fire, such as one which ha ...

s and

reference book A reference work is a work, such as a paper, book or periodical (or their electronic equivalents), to which one can refer for information. The information is intended to be found quickly when needed. Such works are usually ''referred'' to f ...

s. In some cases even an airplane/helicopters can be cited as examples of unsought goods. The purchase of these goods may not be immediate and can be deferred. Hence, unsought goods require advertising and personal-selling support. Marketers have classified products on the basis of durability, tangibility and use (consumer or industrial). Based on the consumer products classification arise Unsought Goods.

Converting Unsought Goods to Sought Goods

New products such as frozen food items were unsought till they are advertised using media vehicles or by word of mouth marketing. Once the consumer is well educated about the product, the good goes on to become a sought good. For example: A new smartphone with exclusive features is an unsought good until the consumer hears about it. Once the smartphone is widely known among customers, it becomes a sought good. A classic example here is the Apple iPhone. Consumers are unaware that they want it unless told about it. Another example to note would be life insurance. Even though it is a classic example of an unsought good; it is fast growing into a sought good. With the conversion of life insurance from just insurance to an investment idea for your future, this good has shifted paradigms.

References

Consumer goods {{Industry-stub