Answer to Question #146930 in Marketing for Ali

Question #146930
Q3 – Identify atleast two differences between Consumer and Business Markets. Use Examples to explain.
1
Expert's answer
2020-12-01T09:06:01-0500

Differences between Consumer and Business Markets with Examples

In consumer markets, purchasers buy goods and services to consume and not to resell them. An example of a consumer market is a hospital, which provides health services to sick patients. On the other hand, in business markets, businesses buy goods and services from other firms to resell or use them to produce other products to sell. An example of a business market is a timber yard that buys wood; hence, use them to create timber products for sale.

In consumer markets, several purchasers buy products in small amounts. An example is a grocery store that sells food items. In business markets, fewer purchasers purchase products in large quantities. An example is an accounting organization that provides services to various firms.


Need a fast expert's response?

Submit order

and get a quick answer at the best price

for any assignment or question with DETAILED EXPLANATIONS!

Comments

No comments. Be first!

Leave a comment

Ask Your question

LATEST TUTORIALS
New on Blog
APPROVED BY CLIENTS