Describe the characteristics of each type of consumer product and give examples of each.
Definition of Consumer Products:
Consumer products, also known as final goods, are objects purchased for personal use by individuals or households. In other words, consumer items are goods purchased by the average person for personal use. There are four categories of consumer goods in terms of marketing, each with its own set of marketing factors.
Or we can say that,
Consumer goods are items purchased by the average person for personal use. Consumer products, also known as final goods, are the end result of manufacture and processing and are what a customer can find on the store shelf. Market products include items like clothes, food, and jewellery. Since basic or raw materials, such as copper, must be converted into usable items, they are not considered consumer goods.
There are 4 Types of consumer products:
- Convenience products
- Shopping products
- Specialty products
- Unsought products
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