What are the three categories of consumer products?
Understand the Problem
The question is asking for the classification of consumer products into three distinct categories. This involves understanding the different types of consumer products that exist in the market.
Answer
Durable goods, nondurable goods, and service goods.
The three categories of consumer products are durable goods, nondurable goods, and service goods.
Answer for screen readers
The three categories of consumer products are durable goods, nondurable goods, and service goods.
More Information
Durable goods are items with a long lifespan like appliances, nondurable goods are consumed quickly like food, and service goods refer to services like haircuts.
Sources
- Consumer Products | Definition, Types & Examples - study.com
- Consumer Products - Definition, Types, and Characteristics - corporatefinanceinstitute.com
- Product Categories: Classifying Consumer Goods | Indeed.com - indeed.com
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