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Foundations of Business - Standalo...

4th Edition
William M. Pride + 2 others
ISBN: 9781285193946

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BuyFindarrow_forward

Foundations of Business - Standalo...

4th Edition
William M. Pride + 2 others
ISBN: 9781285193946
Textbook Problem

What are the major requirements for a group of individuals and organizations to be a market? How does a consumer market differ from a business-to-business market?

Summary Introduction

To determine: The main necessities for a group of individuals and organizations to be a market and the ways in which consumer market vary from business-to-business market.

Introduction: A market is a gathering of people or businesses, or both, that require products in a given classification and that have the capacity, eagerness, and specialist to buy such items.

Explanation

The main necessities for a group of individuals and organizations to be a market are as follows:

A market is a gathering of people as well as associations that have requirements for items in a given classification and have the capacity, readiness, and specialist to buy such items.

The ways in which consumer market vary from business-to-business market are as follows:

  • Business-to-business markets: This market ...

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