BUSINESS ADMINISTRATION
MARKETING MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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True
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False
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Detailed explanation-1: -Industrial goods are bought and used for industrial and business use. Consumer goods are ready for the consumption and satisfaction of human wants. While industrial goods are made up of machinery, plants, and raw materials, consumer goods are commodities purchased by a buyer like clothing, food, and drinks.
Detailed explanation-2: -Consumer products are sold to individuals to satisfy personal or family needs. Business products are sold to businesses to satisfy their needs or bought by a form to make into other products. The majority of all products or services fall under these two categories.
Detailed explanation-3: -A consumer is a person who purchases/buys any goods or services for his personal use that is not for further selling them or manufacturing. The consumer pays price for the product or service he purchases.