What makes consumer market differ from business market and the factors that influence the buying behaviour of the business and consumer market
Can't find what you're looking for?
Ask a Question, Get an Answer ASAP
Consumer market consists of individual customer whereas the Business market comprises of businesses as customers. The differences between the two are:
- The products for the two markets are essentially different.
- The consumers buy small quantities whereas the businesses buy in bulk.
- Consumer market requires more marketing on mass media whereas the Business market requires more personalized marketing
The factors that influence Buying behavior are as follows:
- Financial strength of the consumers
- Number of product options available
- Prices in the market
- Attitudes, beliefs and perceptions
- Peer and family pressure
- Product conformity to social status (esp for consumer market)
answered 9 months ago
Add Comment
Ask questions on any topic, get great answers from real people for FREE. Blurtit has hundreds of thousand of members so your sure to get the answer your looking for.
