PSYCH-114 : Business 4.3.docx
Document Summary
Describes the variety of the different product lines that a business: marketing has a large role in adding value to a product, through the use of production differentiation methods such as quality, packaging and/or branding, functional value refers to what the product actually does for the customer, the second form of value added is called emotional value, consumer products can be further classified into four categories, fast moving consumer goods which are everyday convenience products that are sold in retail outlets such as supermarkets, consumer perishables are products that do not last for a very long time such as fresh flowers or fresh seafood, consumer durables are products that are purchased irregularly because they tend to last for a relatively long time and take up a relatively large proportion of a consumer"s income, producer products or industrial goods are those that are purchased by businesses rather than aimed at consumers.
