Final answer:
The goods that require brand or product comparison across different retailers are known as shopping goods. They often involve consumers considering many factors like price, quality, and style, influenced by intangible aspects like guarantees and brand reputation.
Step-by-step explanation:
The goods for which consumers compare alternative brands or the same brands across multiple retail settings before making a purchase decision are known as shopping goods. These are typically more expensive items that buyers spend time comparing for quality, price, and style among various sellers. Unlike convenience goods,
which are bought frequently and with minimal effort, or specialty goods, which are unique and often have brand-loyal buyers, shopping goods encourage comparison shopping. Intangible aspects such as guarantees, a reputation for high quality, and advertising play significant roles in differentiating these products in consumers' minds.
Consumers benefit from a wide variety of goods and services offered in a market-based economy, despite the debate over whether the range of product differentiation is optimal. Shopping goods offer consumers significant choice and cater to individual preferences shaped by those intangibles.