According to the Text, Consumer Product Classes

question 249

Multiple Choice

According to the text, consumer product classes:

• A) are based on how consumers shop for products.
• B) are interesting, but not helpful for planning marketing strategy.
• C) are based on how the products will be used.
• D) are based on the product features involved.
• E) can be broken down into goods, services, and ideas.

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Definitions:

Factory

A building or group of buildings where goods are manufactured or assembled chiefly by machine.

Work in Process

A part of the inventory account on the balance sheet that represents goods in various stages of production but not yet completed.

Finished Goods

Products that have completed the manufacturing process but have not yet been sold or distributed to the end customer.

Goods Sold

Represents the total quantity of goods that have been sold to customers during a specific accounting period.