Which of the following statements about convenience products is correct?
Answer & explanation
Correct answer: option 4
The correct answer is Option (4) → Convenience products have a low unit-value and are bought in small quantities.
Option (1) Convenience products are bought after comparing the quality, price and style at several stores. — Incorrect. Comparing quality, price and style at several stores before buying is the mark of shopping products, such as clothes, shoes and furniture.
Option (2) Convenience products have reached a brand loyalty of the highest order with many buyers. — Incorrect. Brand loyalty of the highest order belongs to speciality products, for which buyers make special efforts, like a favourite saloon or tailor.
Option (3) Convenience products command a higher per unit margin for the seller. — Incorrect. A higher per unit margin is a feature of durable products, such as refrigerators and bicycles.
Option (4) Convenience products have a low unit-value and are bought in small quantities. — Correct. Convenience products, such as toothpaste, newspapers and stationery, are bought often, at once and with little effort. Each unit costs little, and people buy a little at a time.
NCERT (2026-27 Edition): “1. Convenience Products: Those consumer products, which are purchased frequently, immediately and with least time and efforts are referred to as convenience goods. Examples of such products are cigarettes, ice creams, medicines, newspaper, stationery items toothpaste etc. These products have low unit-value and are bought in small qualities. |