MANAGEMENT

Detailed explanation-1: -Groceries, soft drinks and snack foods, toothpaste and toilet paper, laundry soap and pet food-you probably buy at least some of these every week without even thinking about it. These items are known as consumer staples, because we buy them regularly, through good economic times and bad ones.

Detailed explanation-2: -The term consumer staples refers to a set of essential products used by consumers. This category includes things like foods and beverages, household goods, and hygiene products as well as alcohol and tobacco.

Detailed explanation-3: -Convenience: This type of consumer product is purchased routinely and involves very little thought. Think candy bars, toothpaste, a hairbrush, or a soda can.

Detailed explanation-4: -Consumer Staples Examples: Food products (Campbell Soup Co., Archer Daniels Midland Co.). Beverages (The Coca-Cola Co., Anheuser-Busch Companies, Inc.). Soaps and toiletries (The Procter & Gamble Co., Colgate-Palmolive Co.).

Detailed explanation-5: -Convenience Goods These products include gum, toilet paper, soap, toothpaste, shampoo, milk, and other necessities that people buy regularly. To market a convenience good, you want to consider that most people will impulse buy these products.