what are goods that consumers buy after making some effort to gather information and compare options
specialty goods
raw materials
convenience goods
shopping goods
Shopping goods are goods that consumers buy after making some effort to gather information and compare options. They are typically more expensive and require more consideration before purchase. Examples of shopping goods include:
1. Electronics: Consumers usually research and compare different brands, features, and prices before buying products like smartphones, laptops, or cameras.
2. Furniture: Shopping for furniture often involves visiting various stores, comparing different styles, sizes, prices, and materials before making a purchase decision.
3. Cars: Consumers may spend time researching different models, brands, features, and prices of cars before making a purchase.
4. Appliances: For appliances such as refrigerators, washing machines, or televisions, consumers often gather information, compare specifications, read reviews, and compare prices before deciding which one to buy.
5. Clothing and footwear: Consumers may try on different clothes or shoes, compare prices, quality, and style options before making a purchase.
Ultimately, shopping goods require consumers to actively seek information, compare alternative options, and make thoughtful decisions based on their preferences and needs.
The goods that consumers buy after making some effort to gather information and compare options are typically referred to as "shopping goods." Unlike convenience goods that are easily and readily available, shopping goods require consumers to compare features, prices, and quality before making a purchase decision. Specialty goods, on the other hand, are unique or highly specific items that consumers actively seek out. Finally, raw materials are not typically purchased directly by consumers, but rather by businesses for further processing or manufacturing.
The goods that consumers buy after making some effort to gather information and compare options are known as shopping goods.
To understand this concept, let's break down the different types of goods you mentioned:
1. Specialty goods: These are unique or specialized products that consumers are willing to invest significant effort in finding. These goods are often associated with specific brands or stores. Examples include luxury items, high-end electronics, or designer clothing.
2. Raw materials: Raw materials are goods that are used in the production of other goods. They typically undergo further processing or manufacturing before they become finished products. Examples include wood for furniture, steel for construction, or cotton for clothing.
3. Convenience goods: Convenience goods are products that consumers buy frequently and with minimal effort or comparison. These goods are often readily available, low in cost, and do not require extensive research before purchase. Examples include daily groceries, toiletries, or impulse-buy items at a checkout counter.
4. Shopping goods: Shopping goods fall in between convenience goods and specialty goods. They are products for which consumers typically invest some time and effort in gathering information, comparing options, and making a considered purchasing decision. Examples include electronics, furniture, clothing, or household appliances. Consumers may conduct product research, read reviews, visit multiple stores or websites, and compare prices and features before making a decision.
When it comes to shopping goods, consumers make an active effort to gather information and compare options because these purchases tend to be more significant in terms of price, quality, or personal preference.