Differentiate between business market and consumer market

Question

Accepted Answer

Business market refers to organizations that buy goods and services for use in their own products or operations, while consumer market refers to individuals or households who buy goods and services for personal use.

Business market involves larger purchases and longer decision-making processes
Consumer market involves smaller purchases and shorter decision-making processes
Business market focuses on functionality and efficiency, while consumer market focuses on emotions and personal preferences
Examples of business market include B2B companies, government agencies, and non-profit organizations, while examples of consumer market include retail stores, online shopping platforms, and supermarkets

Differentiate between business market and consumer market

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