Specialty goods hold a unique place in the hierarchy of product classifications in that they __________.

Question

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Specialty goods are products that are unique and not widely available, which makes customers willing to search for them. These goods may include luxury products, exotic items or products that serve niche markets. Customers who seek specialty goods are often willing to pay a premium price for the unique features or value that these goods offer. Therefore, specialty goods focus on total value rather than price, and their stores may be located in peculiar places that match the unique preferences of their target customers.

Specialty Goods Hold a Unique Place in the Hierarchy of Product