Final answer:
Product categories are influenced by consumer trends, have no impact on pricing, and can apply to both physical products and services.
Step-by-step explanation:
The correct statements regarding product categories are:
- They are influenced by consumer trends: Product categories can change over time based on the changing preferences and needs of consumers.
- They have no impact on pricing: Product categories do not directly determine pricing. Pricing is determined by factors such as production costs, competition, and demand.
- They only apply to physical products: Product categories can apply to both physical products and services. For example, there are different categories for cars, electronics, clothing, and even software services.