Class09_HW_Assignment - 1. The four classifications of...

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1. The four classifications of consumer products are: (1) Convenience products: Convenience products are relatively inexpensive items that warrant minimal shopping effort. In other words, consumers are not willing to expend much time or effort shopping for these items. Convenience products typically require widespread distribution in order to bring in sufficient profits. Bottled water is one example of a convenience product. (2) Shopping products: Shopping products are typically pricier than convenience products and found in fewer stores. Consumers are typically willing to spend more time and effort on purchases of these products and consequently, will compare one product against others prior to making a purchase. Shopping products may be perceived as essentially similar (homogenous) or essentially dissimilar (heterogeneous). For example, a consumer may compare Panasonic, Sony, and Canon digital cameras (homogenous shopping products) or they may compare a community college with a private university (heterogeneous shopping
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Class09_HW_Assignment - 1. The four classifications of...

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