MANAGEMENT

Detailed explanation-1: -Grading is the process of classification of products into different groups based on its characteristics.

Detailed explanation-2: -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-3: -Grading is the process of classification of products according to similar characteristics and/ or quality.

Detailed explanation-4: -Product classification is a marketing and business term that categorizes products based on how and why consumers purchase them. These distinctions can change the way companies market their products and affect other aspects of sales, such as pricing and distribution.