Class 12 Business Studies - Chapter Marketing NCERT Solutions | What are industrial products? How are th

Welcome to the NCERT Solutions for Class 12th Business Studies - Chapter Marketing. This page offers a step-by-step solution to the specific question from Exercise 2, Question 4: what are industrial products how are they differe....
Question 4

What are industrial products? How are they different from consumer products? Explain.

Answer

The products which are used as inputs to produce consumer products are known as industrial products, e.g. raw material, machinery, tools, etc.

Difference between industrial and consumer products:

Basis Industrial Products Consumer Products
Meaning

These products are used for further production of other goods.

These products are used for final consumption by the direct consumers.

Number of buyer

The buyers of industrial goods are limited.

The buyers of consumer goods are many in number.

Buying decision

Decisions of buyers are influenced by technical specification and goodwill.

Decisions of buyers are influenced by advertising and various sales promotional schemes.

Nature of demand These products have derived demand. These products have direct demand.

 

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