Principles of Marketing, 17/e

6 Reviewing and Extending the Concepts

Objectives Review and Key Terms

Objectives Review

Business markets and consumer markets are alike in some key ways. For example, both include people in buying roles who make purchase decisions to satisfy needs. But business markets also differ in many ways from consumer markets. For one thing, the business market is huge, far larger than the consumer market. Within the United States alone, the business market includes organizations that annually purchase trillions of dollars’ worth of goods and services.

Objective 6-1 Define the business market and explain how business markets differ from consumer markets. (pp 164–166)

The business market comprises all organizations that buy goods and services for use in ...