All of the following are differences between business and consumer markets EXCEPT ________.?

Question

All of the following are differences between business and consumer markets EXCEPT ________.

types of decisions

type of credit extended

the decision process involved

nature of the buying unit

market structure and demand

Answer 1

I would say a), although I think this is a poorly worded question by whoever origionally wrote this!

Reasoning:

In any market the "type of decision" can really be either to go ahead, not go ahead, or postpone, I can't see any other possiblity.

Type of credit extended is different - B2B is usually 30 days or similar, B2C is normally cash upfront.

Decision process is different - with consumers it's normally a quicker decision, with business purchasing it can involve proposals, quotations, presentations, reviews, decision by committee etc.

Buying unit for B2C is one person - B2B is usually several people "signing off on something".

Market structure is very different - one is people buying for themselves usually through retail situations, the other is people buying on behalf of a business, usually through representitives or existing company relationships.

Again it's not clear from the way the question is worded but this is my take on it.

Best of luck

Matthew Cummins

Global Advertising Products

http://www.adproducts.com.au

Answer 2

The market structure and demand principles that businesses and consumers follow are very similar. All of the other options you list are differences between the two groups.

Good luck!

Answer 3

a