Distinguish between convenience product and shopping product.
Basis | Convenience products | Shoppong products |
---|---|---|
Time and efforts | They are usually standardize goods, which are purchased at convenient locations, with least time and efforts. | These are purchased after a detailed comparison of various products, which involves a lot of time and efforts of the consumer. |
Unit price and profit margin | Their unit and profit margin is low. | Their unit price and profit margin is usually high. |
Demand | They have a regular and continuous demand. | They are durable in nature and survive many uses, thus no regular demand. |
Competition of product | Competition in these products is usually high. | Competition is not so high as in case of convenience products. |
Promotion of sales | Sales promotion techniques help to promote the sale of such products. | Saleman and retailers help to promote their sales. |
Example | Stationery, medicines, newspaper, books, etc. | Jeweler, furniture, electronics goods, etc. |
NCERT questions are designed to test your understanding of the concepts and theories discussed in the chapter. Here are some tips to help you answer NCERT questions effectively:
Welcome to the NCERT Solutions for Class 12 Business Studies - Chapter . This page offers a step-by-step solution to the specific question from Excercise 2 , Question 5: Distinguish between convenience product and shopping product.....
Comments