Answer to Question #80006 in Management for bongan gerald

Question #80006
Identify and discuss the key customer markets by using examples of businesses/ companies who sell their goods in those markets as well as examples of goods/ services sold in those markets.
Expert's answer
1. Business Markets: Goods and services sold by the companies usually face a qualified buyer skill through evaluation of a viable offering.
Most buyers in business buy and sell goods and services for profits.
There should be a demonstration of the outcome of the products. The advertisement may play a significant role, but the company reputation, sales prices and the sales ability play a greater role.
2. NGOs and Governmental Markets: Companies that sell goods and services to organizations that are nonprofit with a limited power acquisition like universities, churches, Organizations that are generous and government organizations should price cautiously. Prices that are sold at a lower cost may affect quality and features that the seller accumulates as a contribution.
3. Global Markets: This is a type of company that decides on the country to enter, how to enter such nation, how to get familiarized on the features of goods and services and how to communicate based on different cultures. They encounter different requirement for disposal and buying of products, political and legal difference and fluctuation of the currency. Though their payoff is enormous.
4. Consumer Markets: This is the involves the company that sell consumer goods and services in mass like cosmetics, juices, shoes for athletics and air traveling. They usually develop products of superiority as well as packaging, ensure availability and back them with an engagement of services that are reliable and communications.

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