Saturday, October 24, 2009

Differences between consumer and business markets

Hey guys, I studied consumer and business markets in the book and I came upon some conclusions about both these markets. First of all consumer markets are all those markets which cater to the needs and wants of those consumers who buy goods and services for final consumption. One good example is the bookstores where consumers come to buy books for themselves.
Business markets are those markets which produce those goods which are sold to other producers who use these goods in their own production processes or sell them at a profit. For example, my father has a construction firm and he buys bricks, concrete and steel from various different producers to use these materials in the construction of houses.
So, these are the major differences between the consumer and business markets.


Cindy said...

Well done! I was just reading chapter 6 and you made a really good summary on the 2 markets!

Haider said...

Great work.... the first post that seems to be self written rather than referenced. A very comprehensive summary indeed.

Syed Ahmad Hashmi said...

Very timely information that you have shared with all of us. Good work my friend