{"id":1076,"date":"2022-04-10T21:59:00","date_gmt":"2022-04-10T19:59:00","guid":{"rendered":"https:\/\/support.centreforelites.com\/nature-and-scope-of-the-business-market\/"},"modified":"2024-03-14T09:43:45","modified_gmt":"2024-03-14T07:43:45","slug":"nature-and-scope-of-the-business-market","status":"publish","type":"post","link":"https:\/\/support.centreforelites.com\/ru\/nature-and-scope-of-the-business-market\/","title":{"rendered":"NATURE AND SCOPE OF THE BUSINESS MARKET"},"content":{"rendered":"

 The business market consists of all business users, organizations that buy goods and services <\/span>for one of the following purposes:<\/p>\n

<\/o:p><\/p>\n

<\/a>(i)     <\/span><\/span><\/span>To make other goods and services. FFF buys wood to make furniture.<\/o:p><\/p>\n

<\/a>(ii)      <\/span><\/span><\/span>To resell to other business users or to consumers.<\/o:p><\/span><\/p>\n

<\/a>(iii)      <\/span><\/span><\/span>To conduct the organization’s operations. The Obafemi Awolowo University buys <\/span>office supplies and electronic office equipment for use in registrar’s office, and her Teaching Hospital buys supplies to use in the surgical operating rooms.<\/o:p><\/span><\/p>\n

In the business market we deal with both consumer products and business products.<\/o:p><\/span><\/p>\n

Business marketing, then, is the marketing of goods and services to business users, as contrasted to ultimate consumers.<\/o:p><\/span><\/p>\n

About 50 percent of all manufactured products are sold to the business market. In addition, about 80 percent of all farm products and virtual y all minerals, <\/span>forest and sea products are business goods. These are sold to firms for further processing.<\/span><\/p>\n

Every retail store and wholesaling establishment is a business user. Every bus company airline, and railroad is part of this market. So is every hotel, restaurant, <\/span>bank, insurance company, hospital, theater and school.<\/o:p><\/span><\/p>\n

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Table of Contents<\/p>\n