Convenience Products Are

question 133

Multiple Choice

Convenience products are

• A) relatively inexpensive, frequently purchased items for which buyers exert only minimal purchasing effort.
• B) frequently purchased items for which buyers are willing to exert considerable effort.
• C) frequently purchased items that are found in certain retail outlets.
• D) items that are expensive but are easy to purchase.
• E) items that require some purchase planning and for which the buyer often will not accept substitutes.

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Definitions:

Customer Wants

Specific desires or requirements of consumers that businesses aim to meet with their products or services in order to satisfy and retain their clientele.

JIT Environments

Settings or conditions where Just-In-Time inventory management and production practices are implemented to minimize inventory costs and waste.

Demand Rate

The rate at which goods or services are requested or needed by consumers in a given market or period.

Push System

A type of inventory control system where products are manufactured or acquired based on forecasted demand, pushing products towards the consumer without immediate demand signals.