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Distinguish Between Convenience Product and Shopping Product. - Business Studies

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ConceptNature of Product

Question

Distinguish between convenience product and shopping product.

Solution

Basis of Difference

Convenience Product

Shopping Product

Demand

Convenience products have a continuous and frequent demand.

Shopping products have a relatively less frequent demand.

Nature of Products

Essential commodities come under the category of convenience goods.

Generally, such goods are durable in nature

Unit of Purchase and Price

These 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 Purchase

Such 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.

Example

Ice-creams, medicines, newspaper, stationary items.

Jewellery, furniture, clothes, etc.

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Solution Distinguish Between Convenience Product and Shopping Product. Concept: Nature of Product.
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