1.

Distinguish between convenience product and shopping product.

Answer»
Basis of DifferenceConvenience ProductShopping Product
DemandConvenience products have a continuous and frequent demand.Shopping products have a relatively less frequent demand.
Nature of ProductsEssential commodities come under the category of convenience goods.Generally, such goods are durable in nature
Unit of Purchase and PriceThese products are available in small units and have low unit price. Thereby, such products have low profit margin.These products usually come in bigger units and have high unit prices. Thereby, the profit margin is also high.
Nature of PurchaseSuch products are brought impulsively without devoting much time and effort.Such products are not brought impulsively and the consumer devotes considerable time and effort to compare the price, quality, etc. of the product.
ExampleIce-creams, medicines, newspaper, stationary items.Jewellery, furniture, clothes, etc.


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