Name and briefly define the four categories of consumer products. For each category, list three specific examples of products that would most likely be classified in that category

Question

What will be an ideal response?

Answer 1

ANSWER: Convenience products are relatively inexpensive items that require little shopping effort. The products are bought regularly, usually without significant planning. Convenience products may include candy, soft drinks, aspirin, small hardware items, dry cleaning, car wash services, and so on. Shopping products are usually more expensive than convenience products and are found in fewer stores. Consumers spend some effort comparing brands and stores. Shopping products may include washers, dryers, refrigerators, televisions, furniture, clothing, housing, choice of university, and so on.Specialty products are those exclusive items for which consumers are willing to search extensively. Consumers are extremely reluctant to accept substitutes for specialty products. Brand names and service quality are important. Fine watches, luxury cars, expensive stereo equipment, gourmet restaurants, and specialized medical services could all be considered specialty products.Unsought products are those that the buyer does not know about or does not actively seek to buy. These products include insurance, burial plots, and other similar items.