Anything for you sweety. So, consumer products are goods and services ready for personal consumption while industrial products are bought and used for industrial business use.
Thanks for coffee. Dad, what is the difference between industrial and consumer products?
Can you define the groups of industrial and consumer products?
Consumer products have four groups. Convenience products, customers usually buy them frequently. Shopping products, customers compare their suitability, quality, price and style before buying.
Now, industrial products only have three groups. Materials and parts, raw and manufactured materials and parts sold directly to industrial users.
Where was I? Oh yes! Specialty products, customers will pay high prices for these. last but not least unsought products, customers doesn't know about or knows about it but doesn't normally buy them.
Ok, very informative.
Capital items, aid in the buyer's production or operations. Supplies and services include operating supplies and maintenance and repair items. Is that all you wanted?
No Dad, can you give me some examples of the groups of industrial and consumer products?
Ok, convenience products; newspapers, candy and fast-food. Shopping products; furniture, cars and appliances. Specialty products; medical services, high-end electronics and designer clothes. Unsought products; life insurance, funeral services and blood donations.
Those were the consumer products, right?
Thanks Dad, love you.
Materials and parts; copper wire, natural gas, steel sheets, etc. Capital items; installations and accessory equipment. Supplies and services; paper, pens, ladders, paint, etc. And that's everything you need to know.
Love you, too. Well it looks like it's about to rain.