Question

the two types of shopping products are: group of answer choices unsought and convenience generic and family exclusive and intensive heterogeneous and homogeneous

Answer 1

The two types of shopping products are homogenous and heterogenous products. Hence the correct answer choice is option (d).

Enlist the features of a homogenous product.

Following are the features of a homogenous product :

• Market Structure: A crucial characteristic of a perfectly competitive market is homogeneous products. A market structure known as perfect competition is one that has numerous customers and sellers, homogeneous products, and no entry obstacles. Theoretically, homogeneous commodities cannot be distinguished from one another in a market with perfect competition.

• Price Determination -A homogenous product's pricing is the deciding factor in which one product should be chosen over another. When a customer is in front of a shelf filled with similar goods, they are searching for the one with the best deal.

• Consumer Loyalty: Referring to customers that favour a product brand, marketing strategy, or the company's ideals, consumer loyalty is important for products that are not uniform in nature. When a product, like laundry detergent or dish soap, is a recurring necessity, consumer loyalty may apply to homogeneous commodities. A consumer will frequently remain loyal to a homogeneous product in the future if they originally buy it based solely on pricing and are happy with it.

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The complete question is mentioned below :

The two types of shopping products are:

a. unsought and convenience.

b. generic and family.

c. exclusive and intensive.

d. heterogeneous and homogeneous.

e. consumer and business.