What is the business market, and how does it differ from the consumer market??
Business Market
Business market consist of all the organisation that acquire goods and services used in the production of other products or services that are sold, rented or supplied to others.
Brands belong to Business Market
Consumer market
Points of differencePoints of difference
BusinessMarket
Consumer market
Fewer, larger buyer Close supplier-customer relationship Professional purchasing Multiple buying influences Multiple sales calls Derived demand Inelastic demand Fluctuating demand Geographically concentrated buyers Direct purchasing
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Fewer and larger buyers in comparision to consumer market
Close supplier-customer relationship
Proffesional purchasing
Multiple buying influences
Multiple sales call
Derived and inelastic demand
Fluctuating demands
Geographically concentrated buyers
Direct purchasing
created BY-Shruti BansalUIT- RGPV, BHOPAL
Forduring an Internship with Prof. Sameer Mathur, IIM Lucknowwww.IIMInternship.com