January 31, 2024

What Goods Are Similar in Quality But Different Enough in Price to Justify Shopping Comparisons?

The consumer typically buys convenience products frequently, immediately and with a minimal search effort--cigarettes, soap, newspapers, chewing gums and grocery products. They are usually inexpensive and purchased primarily out of habit. Specialty goods are those for which the consumer must make a considerable shopping comparison process on such criteria as suitability, quality, price and style. Examples include insurance, cemetery plots and smoke detectors. Shopping products are less frequent and are seen by the buyer as non-standardized, so he or she spends a significant amount of time inspecting alternative brands for suitability, quality, price and style. They are either homogeneous or heterogeneous.

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