Concept explainers
To discuss: The way how market structure and demand differs for consumer market and business market.
The people who provide services behind the scene to the consumers are known as the business marketers. The business marketers buy the goods and services from different sectors. The people who directly sell the goods and services to the end consumers are the consumer marketers.
Explanation of Solution
The way how market structure and demand differs for consumer market and business market:
The market structure and demand is different for business marketers and consumers. This is because business marketers profit oriented and they have ensured that the products are in quality for the purpose of resale to consumers. Under business market the marketers will purchase in bulk and not like the consumers who purchases only to satisfy their needs.
Bulk purchase will give the marketers more offers and discounts.
The main differences of market structure and demand in business and consumer market are as follows:
- Business market deals with fewer for larger consumers compared to consumer market.
- Geographical concentrations differs for both markets
- Business market has derived demand that is fluctuating and inelastic.
- Seller and buyer dependency
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