Answer to Question #129253 in Marketing for lemlem

Question

A product like refrigerator, macaroni etc. can be both consumer and industrial product regardless of their characteristics. Discuss the reasons why a single product can be consumer as well as industrial product

Answer 1

Consumer products include the goods and services utilized by individuals and households while industrial products are used by other businesses. A product can be both consumer and industrial depending on who purchases them. For example, a company can purchase support goods such as a refrigerator to cool down products as part of the production process of consumer goods. Additionally, a consumer good can be used in the operation and maintenance of equipment used in industries.