Question

Homes, Inc. Kurt McKinney has just received a large inheritance and wants to have his "dream" home built. He knows exactly the architectural design he wants. He wants a particular Reflections home. The type of consumer product he wishes to buy is best classified as a(n):

Answer 1

Answer: Specialty product

Explanation: The type of consumer product he wishes to buy is best classified as a specialty product. While a product is defined as everything, both favorable and unfavorable, that a person receives in an exchange which can be tangible, intangible, a service, an idea, or a combination of these things, specialty products are products that are searched for extensively, and for which substitutes are not acceptable, may be quite expensive, and often limited in distribution.