Question

Identify and discuss the key customer markets by using examples of business/companies who sell their goods in those markets as well as examples of goods /services sold in those markets

Answer 1

Various customer markets:

Consumer markets: Market where the consumer buy day to day usable products. They sell mass products such as juices, shoes clothes, watches etc.

Business market: Here the products or services are sold to any business. For example, medical equipments such as x-ray, ecg scan machines are sold to hospital for their service business. This is called as business markets. Here, raw materials, agricultural products are also bought for manufacturing a product.

global market: Here the products are sold internationally, we have to carefull aboabout pricing the product at different places, communicating the product information etc.

Government or non profit organisation market: the products are sold to government or NGO Etc. We have to be careful when a product is priced low because the product quality may get affected.