What is NOT a consumer good categorized under the shopping effort and involvementQuestion 2Answera.Convenience Goodsb.Specialty Products c.Raw Materiald.Unsought Goods

Consumer goods are classified into raw materials, materials and parts, capital goods, and operating services.Group of answer choicesTrueFalse

What term describes goods which are both non-rivalrous and non-excludable by nature? Group of answer choicespublic goodsprivate goodscommon resourcesmarket good

Statement 1: Convenience Goods are purchased frequently, immediately and with minimal effort.Statement 2: Shopping Goods are the goods that consumer characteristically compares on such bases as suitability, quality, price, and style.Statement 3: Unsought Goods have unique characteristics or brand identification for which enough buyers are willing to make a special purchasing effort. All the statements are True. Statement 1 and Statement 3 are true, and Statement 2 is false. Statement 1 is False, and Statement 2 and Statement 3 are True. Statement 1 and Statement 2 are true, and Statement 3 is false.

Which statement best describes the appropriate marketing strategy for nondurable goods?Question 14Answera.Nondurable goods should be made available in many locations, charged with a small markup, and advertised heavily to induce trial and build preference. b.Nondurable goods typically require more personal selling and service, command a higher margin, and require more seller guarantees. c.Nondurable goods should be marketed with a focus on exclusivity and limited availability to create a sense of urgency among consumers.

Which of the following is NOT an element required for goods to be of acceptable quality, according to the assessment of a reasonable person? Select one: a. The goods must be free from defects b. The goods must be safe c. The goods must be durable d. The goods must be fit for the consumer’s purpose