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Definition

Specialty goods

Definition (1):

Specialty goods are goods with unique characteristics or brand identification for which enough buyers are willing to make a special purchasing effort.

Definition (2):

These goods are products that buyers prefer strongly because of their unique characteristics or image.

Definition (3):

These goods are unique because of their brand identifications or specific features and a specific buyer group doesn’t mind making a special effort for purchasing those.

They belong to one of the types of consumer goods such as convenience, shopping, and specialty.

Definite brands of luxury cars, fancy products, designer fashion clothing, stunning designs, exotic perfumes, famous paintings, and equipment for professional photography are some common examples of these goods. A BMW automobile, for instance, is a specialty good because generally, buyers are quite willing to travel long distances to buy one. Buyers usually do not compare these goods. They only invest the required time to reach the shop having the wanted goods.

Use of the Term in Sentences:

  • Generally, the elite class of the society is the buyers of specialty goods.
  • Buyers don’t mind paying high while buying specialty goods.
  • Many people are engaging in the business of specialty goods.
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