Question

Enumerate and define the different consumer products and give examples of each.

Answer 1

ANSWER-

Consumer products- Consumer products are final goods and services which are bought by consumer for personal use. Consumer products are bought to satisfy needs or wants not to produce another product.

There are 3 types of consumer products - Durable goods, Non Durable goods, and services.

1.) Durable goods - Durable goods are those consumer goods which are consumed for a long life spam ( more than 3 years). Example of durable goods - Furniture, car, jewelry, land, etc.

2.) Non Durable goods - Non Durable goods are those consumer goods which are consumed for a short life spam (less than 3 years). Example of non durable goods - Clothes, footwear, paper, food, etc.

3.) Services - Service is a consumer product in which no physical product is exchange. It is an intangible product which cannot be touched or seen but can be felt by experience. Example of services - Educational services, services of doctor, services of lawyer, consulting services, Entertainment services, etc.