Types of Business Markets

The ________ consists of all the organizations that acquire goods and services used in the production of other services or products that are sold, rented or supplied to others.

• Consumer Market

• Organizational Market

• Government Market

• None of the above

Fewer, larger buyers is the key characteristic of _________

• Business market

• Consumer market

• Both a and b

• None of the above

What is the term for a market that is defined by specific characteristics?

• Market niche

• Market division

• Market characteristic

• Market segment

Bread and milk are which kind of products?

• Specialty Products

• Convenience products

• Shopping products

• Unsought products

Adding new features to a product is advocated by which of the approaches?

• Product Approach

• Production Approach

• Marketing Approach

• Selling Approach

Which of the following is considered a “key player” in the marketing industry?

• Marketer

• Suppliers or vendors

• Distributors or retailers

• All of the above

________ markets include a wide variety of profit and nonprofit organizations, such as hospitals, government agencies, and schools, which provide goods and services for the benefit of society.

• Consumer

• Business-to-business (Industrial)

• Reseller

• Institutional

Buying of supplies by the MIRA will be classified as:

• Business markets

• Reseller markets

• Government markets

• International markets

Which of the following is NOT considered a type of reseller?

• Wholesaler

• Retailer

• Manufacturer

• Distributor

The goods that are frequently and immediately bought by consumer's are called as:

• Unsought goods

• Convenience goos

• Shopping goods

• Specialty goods.