4A : consumer, trade and seasonal markets

Question 1

what are consumer goods ?

Answer 1

products and services bought by consumers for their own or family use

Question 2

what are some categories of consumer goods ?

Answer 2

*fast-moving consumer goods : high volume , low unit cost value , fast purchase goods e.g. ready meals , baked beans , newspapers

*consumer durables :low volume but high value

*soft goods : similar to consumer durables but wear out more quickly ( shorter replacement- cycle . e.g. clothes shoes.

*Services

Question 3

list the types of consumer durables

Answer 3

• white goods : fridges , cookers dishwashers , microwaves

*brown goods : DvD-player , game console , computers

Question 4

define trade/industrial markets

Answer 4

the sale of goods between businesses (b2b)

Question 5

what do trade/industrial markets include of ?

Answer 5

They sell
*finished goods : office furniture, computer system

*raw materials : coal
, gas , timber

*services : waste disposal , security

Question 6

what makes trade markets different from consumer markets ?

Answer 6

*personal relationships are more important in trade markets

*use of trade fairs and exhibitions are very important methods of marketing

*they have smaller number of customers -whom they know!

*customers are usually long term

Question 7

what are seasonal markets ?

Answer 7

products sold during a particular season or time e.g. Christmas cards , Easter eggs