Marketing - What Types of Product are there?

The video tutorial discusses how marketers differentiate products as goods or services and categorize them as consumer or business products. It highlights the reasons behind consumer and business purchases, emphasizing the concepts of direct and derived demand. These distinctions significantly influence marketing strategies, depending on whether the target is consumer or business products.

What is one way marketers can categorize products?

• By their price

• As goods or services

• By their size

• By their color

Why do consumers typically purchase products?

• To give them away

• To display them

• To use them personally

• To resell them

What is a common reason businesses purchase products?

• To consume them

• To donate them

• To use them in operations or resell

• To discard them

What type of demand is associated with consumer products?

• Derived demand

• Indirect demand

• Direct demand

• Fluctuating demand

How does consumer demand affect business product demand?

• It drives business product demand

• It decreases business product demand

• It stabilizes business product demand

• It has no effect