What are unsought goods?

Business

1 answer:

dangina [55]3 years ago

4 0

Answer:

Unsought goods are goods that are not in demand either because consumers are not aware of them, or because they do not see an immediate need for them.

Explanation:

There are certain goods that <em>consumers are not aware of and as such, are not interested in purchasing</em>. These goods are called unsought goods. New products just entering the market are examples of unsought goods and awareness for such products can be generated through advertising and extensive marketing.

In some cases, <em>consumers are aware of unsought goods but are not interested in buying them at the moment as they do not have immediate benefits</em>. An example of such is accident insurance.

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