1 Why might a tropical fish be classified by different consumers as a convenience good, a shopping good, OR a specialty good?

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Presentation transcript:

1 Why might a tropical fish be classified by different consumers as a convenience good, a shopping good, OR a specialty good?

2  Those purchased for further processing or for use in conducting business.

3 Supplies and Services Operating supplies, repair, and maintenance items Supplies and Services Operating supplies, repair, and maintenance items Materials and Parts Raw materials, manufactured materials, and parts Materials and Parts Raw materials, manufactured materials, and parts Capital Items Products that aid in buyer’s production or operations Major & Accessory Equipment and parts Capital Items Products that aid in buyer’s production or operations Major & Accessory Equipment and parts

 Product decisions vary by company.  Companies face different product decisions depending on the number of products involved.

Product decisions are different depending upon whether the decision to be made is in regards to:  Product items such as individual products and/or individual services.  Product lines.  Product mixes or assortments.

Companies often make adjustments to product items, lines, and mixes.  Modification: making a change  Repositioning: change in a market  Extensions: add to  Contraction: a reduction

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