Answer:

What are Consumer Goods?

Consumer goods are products BOUGHT for consumption by the AVERAGE consumer. ALTERNATIVELY called final goods, consumer goods are the end result of production and manufacturing and are what a consumer will see stocked on the store shelf. Clothing, food, and jewelry are all examples of consumer goods. Basic or raw materials, such as copper, are not considered consumer goods because they must be transformed into usable products.

KEY TAKEAWAYS

Consumer goods, or final goods, are goods sold to consumers for their own use or enjoyment and not as MEANS for further economic production activity.

From an economic standpoint, consumer goods can be classified as durable (useful for longer than 3 years), nondurable (useful for less than 3 years), or pure services (consumed instantaneously as they are produced).

For marketing purposes, consumer goods can be grouped into DIFFERENT categories based on consumer behavior, how consumers shop for them, and how frequently consumers shop for them.

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Consumer Goods

Understanding Consumer Goods

Consumer goods are goods sold to consumers for use in the home or school or for recreational or personal use. There are three main types of consumer goods: durable goods, nondurable goods, and