Question

Identify which statement is true of specialty products. a. They are made directly available to a consumer through direct mail. b. They are distributed to only a few outlets in a geographic area. c. They are relatively inexpensive and merit little shopping effort. d. They are easily substituted with other products.

Answer 1

They are usually distributed to only a few outlets in a geographic area, is the true statement of specialty products.

What are specialty products?

Marketing studies have become comprehensive, categorizing products based on product characteristics, price, and consumer habits. Specialty products are primarily brand-associated goods and have unique features that attract a particular group of buyers who are brand loyal. Consumers who seek specialty goods purchase them based on two factors:

• Brand Focus — The type of brand matters to consumers searching for specialty products. Consumers of specialty goods are loyal to particular brands and often do not want to accept similar products as substitutes.
• Product Features — Product attributes are essential when it comes to specialty goods; they should offer uniqueness and quality.

What are the characteristics of specialty products?

• They are brand products — Most products are typically product categories but not specialty goods. Their brand enables them to develop a consumer franchise that makes them specialty goods.
• They are high priced — Compared to other goods of a similar category, specialty goods often sell at the highest price.
• They have an inelastic demand — The demand for specialty goods remains the same regardless of price changes.

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