GK
MARKETING MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Industrial goods
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Speciality goods
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Consumer goods
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None of the above
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Detailed explanation-1: -Industrial goods are materials used in the production of other goods, while consumer goods are finished products that are sold to and used by consumers. Industrial goods are bought and used for industrial and business use.
Detailed explanation-2: -producer goods, also called intermediate goods, in economics, goods manufactured and used in further manufacturing, processing, or resale. Producer goods either become part of the final product or lose their distinct identity in the manufacturing stream.
Detailed explanation-3: -The industrial goods sector includes companies involved with aerospace and defense, industrial machinery, tools, lumber production, construction, waste management, manufactured housing, and cement and metal fabrication.
Detailed explanation-4: -What are Industrial Goods? Raw materials-Example: Cotton, timber, etc. Manufactured parts-Example: Radiator, battery, etc., needed by a car manufacturer. Supplies or Consumables-Example: Lubricants, oils, etc.
Detailed explanation-5: -Industrial products are classified into three groups: materials and parts, capital items, and supplies and services.