Asked by
Peyton Trost
on Dec 15, 2024
Verified
Consumer products are classified into four categories based on the effort the consumer spends on the decision, the frequency of purchase, and the
A) amount of money the customer is willing and able to spend.
B) number of competing or substitute products.
C) demographics of the consumer.
D) attributes used in making the purchase decision.
E) consumer segmentation characteristics.
Consumer Segmentation
The approach of partitioning a potential consumer market into segments, each defined by distinct attributes.
Consumer Products
Goods that are purchased for personal use or consumption by the general public.
Demographics
Statistical data relating to the population and particular groups within it.
- Map out the types of consumer products by scrutinizing consumer behavior.
- Identify the classification of products based on frequency of purchase and effort in the decision-making process.
Verified Answer
HP
Learning Objectives
- Map out the types of consumer products by scrutinizing consumer behavior.
- Identify the classification of products based on frequency of purchase and effort in the decision-making process.