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Question:

Distinguish between convenience product and shopping product.

Answer:

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.

 


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