BUSINESS ADMINISTRATION
BUSINESS LAW
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Buyers
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Sellers
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Consumers
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Detailed explanation-1: -The consumer market refers to buyers who buy goods and services for personal consumption rather than resale. However, not all consumers have the same tastes, preferences, and purchasing habits because of various characteristics that distinguish certain consumers from others.
Detailed explanation-2: -A customer is an individual or business that purchases another company’s goods or services.
Detailed explanation-3: -A consumer is the one who purchases the product for his/her own need and uses or consumes it. A consumer cannot resell the good, product or service but can consume it to earn his/her livelihood and self-employment. Definition of consumer. The consumer is the one who is the end-user of any goods or services.
Detailed explanation-4: -There are four types of products and each is classified based on consumer habits, price, and product characteristics: convenience goods, shopping goods, specialty products, and unsought goods.