Page 42 - EBOOK DPM 10013 POM-FINAL 25.10.2021

3.3 The characteristic between consumer and business market.

“The basic task of marketing management applies to both consumer and business

marketing. There tasks are:

a) Deciding the target markets,

b) Finding out the needs and wants of the target markets,

c) Developing products and services to meet the requirements of those markets, and
d) Evolving marketing programmes or strategy to reach and satisfy target

customers, better and faster than competitors ” (Havaldar, 2005)

EIGHT (8) Major Differences between Business Market & Consumer Market:

1) Market Characteristics
2) Product Characteristics

3) Services Characteristics

4) Buyer Behaviour

5) Channel characteristics

6) Promotional characteristics

7) Price characteristics

8) Demand

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