What are the types of consumer products and their classifications along with features of a product?
Understand the Problem
The question is asking for an overview of the types of consumer products and their classifications, along with features of a product as outlined in a midterm review material.
Answer
Consumer products: convenience, shopping, specialty, unsought. Product features: tangibility, intangible attributes, associated attributes, exchange value, customer satisfaction.
The types of consumer products are convenience, shopping, specialty, and unsought products. Features of a product include tangibility, intangible attributes, associated attributes, exchange value, and customer satisfaction.
Answer for screen readers
The types of consumer products are convenience, shopping, specialty, and unsought products. Features of a product include tangibility, intangible attributes, associated attributes, exchange value, and customer satisfaction.
More Information
Convenience products are bought frequently with minimal effort. Shopping products involve comparison. Specialty products are purchased for their unique features. Unsought products are not actively sought by consumers. Features enhance product appeal and influence consumer buying decisions.
Tips
Confusing the categories can affect marketing decisions. Ensure you understand each type's characteristics and consumer buying behavior.
Sources
- Consumer Products - Definition, Types, and Characteristics - corporatefinanceinstitute.com
- Main Types of Consumer Products (With Examples of Each) - Indeed - indeed.com
- 4 Types of Consumer Products and Marketing Considerations - eightception.com
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