MANAGEMENT

Detailed explanation-1: -A convenience product is a consumer product that takes little thought, is routine, purchased often, appeals to a large target market, and the consumer purchases with little planning.

Detailed explanation-2: -Convenience products A convenience product is typically purchased often and appeals to a large market base. Consumers regularly buy convenience products to meet their needs and tend to have little concern for where they buy the product. For example, a candy bar would be considered a convenience product.

Detailed explanation-3: -A convenience good is a consumer item that is widely available and purchased frequently with minimal effort. Since a convenience good can be found readily, it does not typically involve an intensive decision-making process.

Detailed explanation-4: -There are four types of products and each is classified based on consumer habits, price, and product characteristics: convenience goods, shopping goods, specialty products, and unsought goods.

Detailed explanation-5: -Examples of convenience products are bread, soft drinks, pain reliever, and coffee. They also include headphones, power cords, and other items that are easily misplaced. From the consumer’s perspective, little time, planning, or effort go into buying convenience products.