which of the following is a service business within the industrial market course hero

What is an industrial market?

An industrial market involves one business dealing goods or services to another business instead of a consumer base. Also known as the business-to-business market, this market encompasses three distinct variations, including businesses selling goods, businesses selling raw materials and businesses selling services.

What are the different types of businesses in the market?

Also known as the business-to-business market, this market encompasses three distinct variations, including businesses selling goods, businesses selling raw materials and businesses selling services. Each of these three happen in a variety of individual businesses.

Why do some companies specialize in selling to other industries?

Many companies within an industrial market specialize in selling goods to other industries in order to help them produce an end product. These companies normally do not offer these products to the general public, because there would be little use for them to an individual consumer.

What are some examples of businesses using the industrial market?

A company producing an industrial loom for creating garments would be one example of a company utilizing this market. Computer programs are another example, especially networks or specialized programs that aid in the production of goods and services.

How many stages are there in the consumer purchase decision process?

Which countries trade in manufactured goods?

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How many stages are there in the consumer purchase decision process?

There are 5 stages in the consumer purchase decision process. The 2 stage is

Which countries trade in manufactured goods?

The US western, europe, canada, china, and japan together account for more than two-thirds of world trade in manufactured goods and commodities.

What is the third type of industrial market?

The third type of industrial market deals solely with selling services to other businesses. These groups do not provide any physical goods but supply manpower and expertise in particular areas. This can be a physical act, such as cleaning up hazardous materials that are produced by industrial machinery. It also can be more data-based, such as providing business accounting for companies.

What is industrial market?

An industrial market involves one business dealing goods or services to another business instead of a consumer base. Also known as the business-to-business market, this market encompasses three distinct variations, including businesses selling goods, businesses selling raw materials and businesses selling services. Each of these three happen in a variety of individual businesses. There are many advantages of this type of market over the traditional consumer market.

What is the advantage of industrial over consumer?

Size is the one great advantage that the industrial market has over the consumer market. This does not refer to the size of the product but to the pool of potential outlets. Unlike consumer products that must be marketed to fit many lifestyles and preferences, these products and services are aimed a a handful of specific business models. This makes refining a product and communicating to buyers much simpler.

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How many stages are there in the consumer purchase decision process?

There are 5 stages in the consumer purchase decision process. The 2 stage is

Which countries trade in manufactured goods?

The US western, europe, canada, china, and japan together account for more than two-thirds of world trade in manufactured goods and commodities.