CBSE BoardEnglish MediumSTD 12 CommerceEntrepreneurshipEnterprise Marketing1 Mark
Question
Give some methods of classifying the product.
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Answer
Products can be classified as:
Consumer products: It includes fans, vegetables, toothpaste, fruits, soaps, shampoos etc. these include final goods.
Capital goods: It includes all those goods needed by the producers for producing goods e.g. tools, equipment, nut-bolts, machines, etc.
Services: These are invisible and intangible goods provided by various entrepreneurs to the customers. For example, banking, transportation, tourism, movies, etc.
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