What are the different types of buyers and consumers?
1 What are the different types of buyers and consumers? How does the type of buyer or consumer impact marketing strategy? As part of your response, consider the characteristics of buyers and the factors that influence their purchasing decision. How can an organization ensure that their market strategy is appropriate for their target market?
2 As you stated, the consumer market consists of individuals and households who purchase goods and services for personal consumption. In the business market, good and services are purchased for the production of other products and services or for resale. Both the consumer market and the business market are similar in that they involve customers who make purchases to meet their needs.
in what ways are the consumer market and business market different from each other?
3 Micromarketing is a strategy which attempts to taylor products towards specific geographic, demographic, or psychographic segments of the consumer market. While this technique can be effective for some smaller businesses, do you believe larger businesses would have the same success?