Types of Products

A product is the tangible end result of a manufacturing process and is meant for satisfying human needs. The product can be classified as follows: -

• Convenience goods These are less expensive and are clustered around shops and restaurants. These can be purchased at consumer’s convenience. E.g. Cigarette, Candy, Magazines etc.

2. Shopping goods These are expensive and people buy it less frequently. E.g. Jewellary garments etc.

3. Specialty goods These are purchased, taking extra pain. E.g. Rare objects like stamps.

4. Industrial goods. these are items used in the production of other items. Eg. Raw  materials.