BUSINESS ADMINISTRATION
BUSINESS ENVIRONMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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individuals that buy goods and services to resell
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companies that produce products to sell to consumers
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households that buy goods for personal consumption
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government agencies that buy goods to produce public services
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Detailed explanation-1: -The consumer market consists of all the individuals and households that buy or acquire goods and services for personal consumption. The simplest model of consumer buyer behavior is the stimulus-response model.
Detailed explanation-2: -Consumer markets consist primarily of products that people use as part of their everyday lives. Anytime someone purchases a product for their own use, they become part of the consumer market. The market typically is divided into four different categories: food, beverages, transportation and retail.
Detailed explanation-3: -The consumer market refers to the market in which people buy goods and services for personal consumption rather than resale.
Detailed explanation-4: -consumer market. noun [ C ] ECONOMICS, COMMERCE. the activity of selling goods or services to people for their own use, or a situation in which this happens: The company entered the consumer market last year.