1. Consumers’ products:
Products, which are purchased by the ultimate consumers for satisfying their personal needs and wants are referred to as consumer products. Consumer products are classified as
Shopping efforts involved Durability of products
2. Industrial Products:
Industrial products are those products, which are used as inputs in producing other products. The examples of such products are raw materials, engines, lubricants, machines, tools, etc.
Types of industrial products:
1. Materials and Parts –
These include goods that enter the manufacture’s products completely.
2. Capital Items –
These goods are used in the production of finished goods.
3. Supplies and Business Services –
These are short lasting goods and services that facilitate developing or managing the finished product.
