Question

Identify the type of products in the following cases and given one example of each type.
`(i)` Purchase of goods, in which buyers devote considerable time to compare quality, price and style.
`(ii)` Consumer products, which are purchased frequently, immediately and with least time and efforts.
`(iii)` Consumer goods having attained brand loyalty with some specific features because of which people make more efforts in their purchase.

Answer 1

The consumer products are classified as follows :
`(i)` Shopping products :They are the products that require considerable time and effort. E.g. Jewellery, television, etc.
`(ii)` Convenience products: These products require minimum time and effort and are purchased frequently by the customers e.g. Bread, butter, salt, etc.
`(iii)` Speciality products: These products have certain special features, due to which the buyers are willing to spend a lot of time and effort. e.g. Designer clothes, antique jewellery, etc.