Consumable Product
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A Consumable Product is a economic good that may be destroyed, dissipated, wasted, or spent in the process of being used to fulfill its intended purpose.
- AKA: Consumable Good, Non-Durable Good, Soft Good.
- Context:
- It can typically provide Customer Value through one-time usage or limited-use application.
- It can typically require Product Replacement after complete consumption or functional depletion.
- It can typically support Business Operation through recurring purchase cycles and replenishment processes.
- It can typically maintain Revenue Stream through repeated sales patterns and continuous demand.
- It can typically handle Resource Utilization through transformation or physical alteration.
- ...
- It can often facilitate Business Model through razor-blade strategy and consumable-dependent product ecosystems.
- It can often provide Market Opportunity through high-frequency purchase and customer retention.
- It can often implement Pricing Strategy through low-margin hardware with high-margin consumables.
- It can often support Supply Chain Management through inventory turnover optimization and replenishment forecasting.
- ...
- It can range from being a Single-Use Consumable Product to being a Limited-Use Consumable Product, depending on its usage capacity.
- It can range from being a Low-Cost Consumable Product to being a Premium Consumable Product, depending on its quality tier.
- It can range from being a Generic Consumable Product to being a Proprietary Consumable Product, depending on its compatibility design.
- It can range from being a Rapidly Consumed Product to being a Gradually Consumed Product, depending on its consumption rate.
- ...
- It can have Product Lifecycle with shortened durations compared to durable goods.
- It can have Environmental Impact through waste generation, disposal requirements, and resource intensity.
- It can have Usage Pattern based on depletion tracking and replacement timing.
- It can have Economic Classification as a non-durable good with recurrent purchase behavior.
- ...
- Examples:
- Physical Consumable Products, such as:
- Office Consumables, such as:
- Fast-Moving Consumer Goods, such as:
- Industrial Consumables, such as:
- Energy Consumable Products, such as:
- Fuel Consumables, such as:
- Battery Consumables, such as:
- Digital Consumable Products, such as:
- ...
- Physical Consumable Products, such as:
- Counter-Examples:
- Durable Goods, which lack consumption-based depletion and instead provide extended functional lifespans.
- Capital Equipment, which lacks single-use design and instead delivers long-term operational capability.
- Permanent Assets, which lack inherent expendability and instead maintain persistent value.
- Reusable Products, which lack consumption through use and instead support repeated application.
- See: Disposable Product, Razor and Blades Model, Consumable Supply Chain, Product Replenishment System, Consumable Dependency Strategy.
References
2019
- (Wikipedia, 2019) ⇒ https://en.wikipedia.org/wiki/Consumables Retrieved:2019-1-25.
- Consumables (also known as consumable goods, non-durable goods, or soft goods) are goods that are intended to be consumed. John Locke specifies these as "consumable commodities". People have, for example, always consumed food and water. Consumables are in contrast to durable goods. Disposable products are a particular, extreme case of consumables, because their end-of-life is reached after a single use. Consumables are products that consumers use recurrently, i.e., items which "get used up" or discarded. For example consumable office supplies are such products as paper, pens, file folders, Post-it notes, and toner or ink cartridges. This is in contrast to capital goods or durable goods in the office, such as computers, fax machines, and other business machines or office furniture. Sometimes a company sells a durable good at an attractively low price in the hopes that the consumer will then buy the consumables that go with it at a price providing a higher margin. Printers and ink cartridges are an example, as are razors and blades, which gave this business model its usual name (the razor and blades model). For arc welding one uses a consumable electrode. This is an electrode that conducts electricity to the arc but also melts into the weld as a filler metal. [1] Consumable goods are often excluded from warranty policies, as it is considered that covering them would excessively increase the cost of the premium. [2]
- ↑ Consumable electrode, example as part of industrial process.
- ↑ e.g. batteries in computers: ,
2018
- (Wikipedia, 2018) ⇒ https://en.wikipedia.org/wiki/durable_good Retrieved:2018-1-24.
- Nondurable goods or soft goods (consumables) are the opposite of durable goods. They may be defined either as goods that are immediately consumed in one use or ones that have a lifespan of less than three years.
Examples of nondurable goods include fast-moving consumer goods such as cosmetics and cleaning products, food, condiments, fuel, beer, cigarettes and tobacco, medication, office supplies, packaging and containers, paper and paper products, personal products, rubber, plastics, textiles, clothing, and footwear.
While durable goods can usually be rented as well as bought, nondurable goods generally are not rented. While buying durable goods comes under the category of investment demand of goods, buying non-durables comes under the category of consumption demand of goods.
- Nondurable goods or soft goods (consumables) are the opposite of durable goods. They may be defined either as goods that are immediately consumed in one use or ones that have a lifespan of less than three years.