Practicing Success

Target Exam

CUET

Subject

Business Studies

Chapter

Marketing

Question:

Read the following case study and answer the questions.

Sonali, on completing her class XII, planned to start 'pickle making' business with the help of her mother and elder sister. Firstly, she went to the market to analyse the consumer trends, tastes and competitor's products. After the analysis, she started her work on a small scale. She finalised that her pickles would be known by the name of "Chatpata". Her mother suggested that the pickles should be packed in air tight glass jar to ensure freshness as well as purity. Also, these glass jars should be sealed and a hologram should be put on the tag.

The type of consumer products discussed in the above case are:

Options:

Shopping products

Convenience products

Speciality products

Intangible products

Correct Answer:

Convenience products

Explanation:

The correct answer is Option (2) - Convenience products.

Pickle is a convenience product.

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.

Shopping Products: Shopping products are those consumer goods where buyers devote considerable time, to compare the quality, price, style, suitability, etc., at several stores, before making final purchase. Some of the examples of shopping products are clothes, shoes, jewellery, furniture, radio, television, etc.

Speciality Products: Speciality products are those consumer goods which have certain special features because of which people make special efforts in their purchase. These products are such, which have reached a brand loyalty of the highest order, with a significant number of buyers. The buyers are willing to spend a lot of time and efforts on the purchase of such products.

Intangible product cannot be seen or touched. Services are intangible product.