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