A consumer product for which buyers will not accept a substitute, for which purchasers do not compare alternatives, and that is purchased infrequently and with extra effort on the buyerâs part is a ____ product.
The answer that completes the blank above is LUXURY. Luxury product is the product that consumers purchase in which they will not accept a substitute. Luxury goods are considered to be superior goods and therefore, their quality is incomparable. This means that the buyers cannot compare it to alternatives. Since luxury goods have high prices, these are not purchased frequently and therefore needs extra effort on the part of the buyer.
