Durables
Definition
Durable goods are those products that do not quickly wear out and are chacterised by a long useful service life. They yield utility over time rather than being completely consumed in one use.
Key Findings
- Many durables markets are characterised by longer inter-purchase intervals and greater irregularity of purchase.
- Because of the longer useful life of a durable good and the longer time periods between successive purchases, many durable markets are subscription markets, where customers tend to ‘subscribe’ to a single provider that meets 100% of their share of category requirements, rather than clearly dividing their purchases between a repertoire of competing brands.
- Because of the subscription nature of the typical durable product category, brand performance metrics like SCR and average purchase frequency are meaningless over the usual analytical time periods of years or quarters. However, metrics like repeat purchase rate and defection are important and these follow the same, predictable patterns as do other metrics in repertoire markets, such as the Law of Double Jeopardy, Duplication of Purchase, lack of brand segmentation and so on.
Best Practice
- Despite the obvious differences between durable and non-durable goods, the marketing role is very much the same: build mental and physical availability.
