Which of the following statements is correct?

Answer & explanation

Correct answer: option 1

The correct answer is Option (1) → On the basis of durability, consumer products are classified into durable products, non-durable products and services.

Option (1) On the basis of durability, consumer products are classified into durable products, non-durable products and services. — True. On the basis of durability, consumer products are durable, non-durable and services. Durables last many years, non-durables are used up in one or a few uses, and services are intangible.

Option (2) On the basis of durability, consumer products are classified into convenience, shopping and speciality products. — False. Convenience, shopping and speciality products are classes on the basis of the shopping efforts involved.

Option (3) On the basis of durability, consumer products are classified into durable products, non-durable products and capital items. — False. Capital items, such as installations and equipment, are a class of industrial products. The third durability class is services.

Option (4) On the basis of durability, industrial products are classified into durable products, non-durable products and services. — False. The durability classes belong to consumer products. Industrial products are grouped into materials and parts, capital items, and supplies and business services.

NCERT (2026-27 Edition): “Classification of Products Products may broadly be classified into two categories — (i) consumers’ products, and (ii) industrial products. The consumer products may further be classified into different groups, as detailed below:”

“Durability Of Products On the basis of their durability, the consumer products have been classified into three categories— Durable, Non-durable and Services.
1. Non-durable Products: The consumer products which are normally consumed in one or few uses are called non-durable products. For example, products like toothpaste, detergents, bathing soap and stationary products etc. From the marketing point of view, these products generally command a small margin, should be made available in many locations and need to be heavily advertised.”