Page 39 - EBOOK DPM 10013 POM-FINAL 25.10.2021

LEARNING OBJECTIVES:

Explain consumer and business market

Examine the characteristic between consumer and
business market.

3.0 OVERVIEW OF CONSUMER AND BUSINESS MARKET

For both consumer and business marketing, the core notions of marketing (in terms of
exchange processes between consumers and sellers) remain the same. There are,

however, distinctions between consumer and business marketplaces.

These distinctions must be grasped by business marketers who wish to reach and please

clients better and faster than their competitors in order to meet the company's goals.

Business markets refer to as business to business marketing. Business marketing is the

marketing of products and services to business organizations. Business organizations
include manufacturing companies, government undertakings, private sector

organisations, educational, institutions, hospitals, distributors, and dealers. Business

organisations buy products and services to satisfy many like production of other goods
and services, making profits, reducing costs, and so on. (Havaldar, 2005)

In contract, consumer market is the marketing of products and services to individual,
families, and households. The consumers buy products and services for their own

consumption. (Havaldar, 2005)

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