Products and services fall into two broad classes based on types of consumers that use them. Name these two broad classes and describe how they are different from each other.

Please limit essay to 500 words.

Please use terminology as stated in the text book which states the two broad classes are based on the consumers that use them: consumer products and industrial products.

Consumer products are bought by the final consumers for personal use. Consumer products are further broken down into subcategories of convenience product, shopping products, specialty products and unsought products.

Industrial products are those purchased for further processing or for use in conducting a business. The three groups of industrial products/services include materials and parts, capital items, and supplies and services.

Thank you for your help as it is greatly appreciated.

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