The document discusses different ways to classify products. Products can be classified based on use into consumer goods or industrial goods. Consumer goods are further divided into convenience goods, shopping goods, and specialty goods depending on consumer buying behavior. Products can also be classified based on durability as durable goods which are used for months or years, or non-durable goods which are consumed quickly. A third classification is based on tangibility, where products are either tangible goods that can be touched, or intangible services.