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What is a consumer good?

A consumer good, or final good, is a finished product ready for purchase from a retailer. Consumer goods can be classified as durable, non-durable, or services. Marketing of consumer goods depends upon the use, price, and features of the item. A consumer good, or final good, is the end product a business produces for purchase by a consumer.

Who is a consumer?

Consumers are people or other entities that buy goods or services. A person who uses a good or services that he or she buys is a consumer. Consumers do not sell what they bought – they ‘consume’ them. Hence, the name. In the marketplace, consumers are key figures.

What are consumer goods?

Consumer goods are finished products bought by individual buyers for their use. Also called final goods or retail goods, consumer goods are the end result of production and manufacturing. Clothing, food products, and appliances are all common consumer goods. Consumer goods are broadly categorized as durable, non-durable, and service goods.

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