Question

- The business market consists of all the organizations that acquire goods and services used in the production of other products or services that are sold, rented, or supplied to others. List and discuss the major industries that make up the business market.

Answer 1

Answer:

Examples : B2B business processes firms [Marketing, Finance, Warehousing, Finance] etc

Explanation:

Business Market consist of organisations that - procure goods & services used in production of goods & services, further sold to final consumers.

Implicatively, these consist of B2B markets. 'B2B' means 'business to business' trade of goods & services. These refer to businesses which serve other businesses for their business processes, not the final consumers (like B2C i.e Business to consumer) businesses.

There are many industries illustrations of business market (B2B). Business processes service industries - are important examples. Eg : Marketing, Finance, Human Resource firms assist businesses with their business processes. Other examples are : auxiliaries to trade - like warehousing, insurance, communication (BPOs - Business processes outsourcing, like call centres)