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What are the four classifications of products?
- Convenience goods.
- Shopping goods.
- Specialty goods.
- Unsought goods.
What are the 4 categories of new products?
New product developments can be grouped into four major categories: new-to-the-company, improvement of existing product, extension of product line, and new-to-the-market.
What is a product category example?
A group of products that offer similar benefits can be referred to as product categories. Products from a same product category will have similar physical features and will offer similar benefits. For example, in the luxury cars product category, cars such as the BMW, Mercedes, and Audi compete with each other.
